HB 229-REINSTATEMENT OF NATIVE CORPORATIONS                                                                       
                                                                                                                                
CHAIR   GENE  THERRIAULT   announced  HB   229  to   be  up   for                                                               
consideration.                                                                                                                  
                                                                                                                                
4:21:02 PM                                                                                                                    
                                                                                                                                
PAUL LABOLLE, Staff to  Representative Richard Foster, introduced                                                               
the   bill  as   a   housekeeping  measure.   It  allows   Native                                                               
corporations  that have  been  involuntarily  dissolved under  AS                                                               
10.06.633 to reincorporate and maintain  the same assets, powers,                                                               
and  liabilities   as  granted   in  the  Alaska   Native  Claims                                                               
Settlement Act (ANCSA). It's a  one-time window that would sunset                                                               
in 2006.                                                                                                                        
                                                                                                                                
CHAIR THERRIAULT remarked this has been done before.                                                                            
                                                                                                                                
SENATOR WAGONER suggested going out to 2010.                                                                                    
                                                                                                                                
MR.  LABOLLE explained  that the  short  term is  related to  the                                                               
constitutional issue of not binding another legislature.                                                                        
                                                                                                                                
CHAIR THERRIAULT asked what led  the corporations to the point of                                                               
dissolution.                                                                                                                    
                                                                                                                                
MR.  LABOLLE  explained  that the  corporations  have  failed  to                                                               
complete necessary paperwork and file  with the state in a timely                                                               
manner.  Those that  didn't  file within  the  grace period  were                                                               
involuntarily dissolved.                                                                                                        
                                                                                                                                
CHAIR THERRIAULT questioned what harm might result.                                                                             
                                                                                                                                
MR. LABOLLE  explained that  the ANCSA land  grants given  to the                                                               
Native  corporations  would  no  longer  be  the  assets  of  any                                                               
corporations  were they  to reincorporate  as a  new corporation.                                                               
It's  unclear  what  would  happen  to  those  assets  if  a  new                                                               
corporation were formed.                                                                                                        
                                                                                                                                
CHAIR  THERRIAULT asked  if that's  because the  federal law  was                                                               
specific that  the land  was granted  to those  corporations that                                                               
were formed at that time.                                                                                                       
                                                                                                                                
MR. LABOLLE answered yes.                                                                                                       
                                                                                                                                
There were no further questions.                                                                                                
                                                                                                                                
SENATOR THOMAS  WAGONER motioned  to report  HB 229  and attached                                                               
fiscal  notes  from  committee with  individual  recommendations.                                                               
There being no objection, it was so ordered.