SB 26-PERM. FUND: DEPOSITS; DIVIDEND; EARNINGS                                                                     
                                                                                                                                
3:33:26 PM                                                                                                                    
CHAIR DUNLEAVY announced the consideration of SB 26.                                                                            
                                                                                                                                
3:33:37 PM                                                                                                                    
CHAIR DUNLEAVY closed public testimony for SB 26.                                                                               
                                                                                                                                
3:33:41 PM                                                                                                                    
SENATOR GIESSEL moved to report  SB 26, version 30-GS1690\A, from                                                               
committee  with individual  recommendations  and attached  fiscal                                                               
note(s).                                                                                                                        
                                                                                                                                
CHAIR DUNLEAVY asked if there were objections.                                                                                  
                                                                                                                                
3:33:55 PM                                                                                                                    
SENATOR WILSON announced that he objected.                                                                                      
                                                                                                                                
CHAIR DUNLEAVY asked if he wished to speak to his objection.                                                                    
                                                                                                                                
SENATOR WILSON  answered yes.  He noted that  "not wanting  to do                                                               
harm to the  local economy" was addressed by  economists in other                                                               
presentations. He asserted  that he could not  in good conscience                                                               
pass  SB 26  due to  the devastating  effect a  reduced permanent                                                               
fund dividend has on the local economy.                                                                                         
                                                                                                                                
CHAIR  DUNLEAVY  asked  Senator   Wilson  if  he  maintained  his                                                               
objection.                                                                                                                      
                                                                                                                                
SENATOR WILSON answered yes.                                                                                                    
                                                                                                                                
SENATOR GIESSEL  asked Chair Dunleavy to  clearly articulate what                                                               
the committee was voting on.                                                                                                    
                                                                                                                                
SENATOR EGAN concurred with Senator Giessel.                                                                                    
                                                                                                                                
CHAIR  DUNLEAVY  clarified  that  the  committee  was  voting  on                                                               
whether to  move SB 26  out of  committee. He noted  that Senator                                                               
Wilson had objected and maintained his objection.                                                                               
                                                                                                                                
SENATOR GIESSEL asked if a "yes"  vote meant to move the bill and                                                               
a "no" vote meant not to move the bill.                                                                                         
                                                                                                                                
CHAIR DUNLEAVY answered correct.                                                                                                
                                                                                                                                
SENATOR  EGAN  asked  if  he   could  still  sign  the  bill  "no                                                               
recommendation."                                                                                                                
                                                                                                                                
CHAIR DUNLEAVY answered yes.                                                                                                    
                                                                                                                                
He asked for a roll call vote.                                                                                                  
                                                                                                                                
A roll call  vote was taken. Senators Giessel,  Egan, and Coghill                                                               
voted  in favor  of moving  SB 26  and Senator  Wilson and  Chair                                                               
Dunleavy voted  against it. Therefore,  the motion to move  SB 26                                                               
from committee passed by a 3:2 vote.                                                                                            
                                                                                                                                
CHAIR DUNLEAVY announced  that SB 26 moved from  the Senate State                                                               
Affairs Standing Committee.