SJR 31-TAX EXEMPT BONDS TO FUND VETERANS LOANS                                                                     
                                                                                                                                
CHAIRMAN  THERRIAULT   announced  there  was  a   proposed  CS  in                                                              
committee member's packets.                                                                                                     
                                                                                                                                
SENATOR JERRY WARD,  sponsor, explained this resolution  urges the                                                              
United States  Congress to  support H.R. 959  and S. 615  to amend                                                              
the  Internal Revenue  code  to allow  veteran  home  loans to  be                                                              
issued to veterans that have served after 1977.                                                                                 
                                                                                                                                
CHAIRMAN THERRIAULT said his staff  has spoken with Senator Ward's                                                              
staff  to  discuss  the  proposed   CS.  First,  a  reference  was                                                              
corrected and  then one  "WHEREAS" was deleted.  His view  is that                                                              
they are asking Congress for favorable  action on the H.R. 959 and                                                              
S. 615 so any hint of antagonism should be avoided.                                                                             
                                                                                                                                
SENATOR WARD endorsed the CS then said:                                                                                         
        However, in  the eyes of some veterans,  I believe                                                                      
        that   some  past   Congresses   have  been   very                                                                      
        antagonistic and  not supportive of  veterans. For                                                                      
        veterans to  place their life on the line  and for                                                                      
        Congress  not to  do something as  simple as  home                                                                      
        ownership, yes, I might be  a little bit disturbed                                                                      
        in their action in the past  and many veterans are                                                                      
        too.  However, I  don't mind  being  polite if  it                                                                      
        gets the job accomplished.                                                                                              
                                                                                                                                
SENATOR  THERRIAULT said  that is  what he  is trying  to keep  in                                                              
mind.                                                                                                                           
                                                                                                                                
He asked  whether members  had questions for  John Bitney  of AHFC                                                              
regarding the housing loan method and there were none.                                                                          
                                                                                                                                
He extended  his apologies  to Senator Ward  for not giving  him a                                                              
copy of the CS  earlier but the draft amendment  was finished just                                                              
before the  meeting convened.  The CS simply  changes the  tone of                                                              
the "WHEREAS" on  page 2 lines 15 through 18.  The amendment reads                                                              
as follows:                                                                                                                     
                                                                                                                                
        BE IT RESOLVED that the Alaska State Legislature                                                                      
                                th                                                                                              
     respectfully  urges the 107   United States  Congress to                                                                   
     support  H.R. 959 and  S. 615 to  remove the portion  of                                                                   
     the  Internal Revenue  Code  which restricts  access  to                                                                   
     state  veterans'  home loan  programs  for veterans  who                                                                   
     served after  1976 so they and their families  may enjoy                                                                   
     the same benefits as their earlier counterparts.                                                                           
                                                                                                                                
SENATOR PHILLIPS made  a motion to adopt the  committee substitute                                                              
22-LS097\C Cook  2/12/02 as the  working document. There  being no                                                              
objection, the motion was adopted.                                                                                              
                                                                                                                                
SENATOR PHILLIPS  made a  motion to  adopt the proposed  amendment                                                              
#1. There being no objection, amendment #1 was adopted.                                                                         
                                                                                                                                
There was no additional testimony.                                                                                              
                                                                                                                                
CHAIRMAN  THERRIAULT called  attention  to the  zero fiscal  note.                                                              
There were no further questions or amendments.                                                                                  
                                                                                                                                
He asked for the will of the committee.                                                                                         
                                                                                                                                
SENATOR  PHILLIPS made  a motion  to move CSSJR  31(STA) and  zero                                                              
fiscal note from committee with individual recommendations.                                                                     
                                                                                                                                
There  being no  objection, CSSJR  31(STA) and  fiscal note  moved                                                              
from committee with individual recommendations.