SB 297-CONTRIBUTIONS FROM PERM. FUND DIVIDENDS  CHAIR GENE THERRIAULT announced SB 297 to be up for consideration. He asked for a motion to adopt Version L. SENATOR WAGONER moved Version L as the working document and there was no objection. 9:41:57 AM HEATHER BRAKES, Staff to Senator Therriault, outlined the following changes: · Page 2, line 1 - contribution amounts begin at $50 rather than $10. She mentioned there was some interest in amending the minimum contribution to $25. · Page 2, line 5 - allows the applicant to prioritize contributions to particular organizations. · Page 2, lines 17 and 24 - provides the date by which the organization must contact the department to be included on the list for the following January. She noted that the September 1 date might be too far out and amending to August has been suggested. · Page 3, line 14 - adds the requirement for a financial audit with an unqualified opinion from an independent CPA if the organization's annual budget exceeds $250,000. · Page 3, lines 21-27 - provides that a public agency filing for a dividend on behalf of a child in custody may not elect to contribute the dividend away. Subsection (g) adds an annual reporting requirement so the legislature has an idea how much is elected for contribution and to which organizations. 9:46:39 AM CHAIR THERRIAULT moved Amendment 1. On page 2, lines 17 and 24 change September 1 to August 1. SHARON BARTON, Director of the Permanent Fund Dividend Division in the Department of Revenue, said when she testified that the August 1 time might be too short, she hadn't heard from the United Way, the agency that would be handling the program through the Rasmuson Foundation. She has since received the fiscal note and it assumes a 10-month lead-time for processing the applications through to a list. She noted that at a higher cost the timeline could be shortened. Acknowledging that she didn't have the particulars she said it's clear that it will take more time than originally envisioned. CHAIR THERRIAULT questioned whether she was referring to the United Way organization. MS. BARTON clarified she spoke with Michelle Brown who Rasmuson had asked to calculate the costs for soliciting organizations, processing the applications, putting the list together, and distributing the money to the organizations. She hadn't spoken to Dianne Kaplan with the Rasmussen Foundation. CHAIR THERRIAULT asked if changing the date to August would allow enough lead-time. MS. BARTON responded it wouldn't help very much. CHAIR THERRIAULT withdrew Amendment 1. 9:50:56 AM CHAIR THERRIAULT referenced a question from the previous hearing and clarified that school districts are not classified as 501(c)(3), they're 501(c)(4)s and 501(c)(6)s so money that would potentially accrue to a school district would not impact the local contribution requirement. MS. BRAKES agreed. SENATOR THERRIAULT summarized and commented on the changes: the audit having no qualification makes sense; requiring a list and what money the organization has been able to generate is information the Legislature will want; not allowing someone in state personnel to check a box and make a contribution on a minor's application makes sense; there is the issue of adding back a $25 contribution; the Rasmuson Foundation is interested in having a paper application but he would like to avoid that expense at this point. SENATOR THERRIAULT found there were no further questions or comments and asked for a motion. 9:53:24 AM SENATOR WAGONER motioned to report CSSB 297(STA) and attached fiscal notes from committee with individual recommendations. SENATOR DAVIS questioned moving the bill on to the Finance Committee before receiving the information that had been discussed. CHAIR THERRIAULT said he wouldn't ask for a Finance hearing until he had received input from United Way regarding how much lead-time they would need. SENATOR DAVIS did not object. CHAIR THERRIAULT announced that without objection, CSSB 297(STA) would move from committee.