MINUTES                                           
            JOINT HOUSE AND SENATE FINANCE COMMITTEE                           
                             MEETING                                           
                        February 7, 1995                                       
                            9:10 a.m.                                          
                                                                               
                                                                               
  TAPES                                                                        
                                                                               
  SFC-95, #3, Side 1 (242-260)                                                 
                                                                               
  CALL TO ORDER                                                                
                                                                               
  Senator Steve Frank, Co-chairman, Senate Finance  Committee,                 
  convened  the  Joint  House  and  Senate  Finance  Committee                 
  meeting at approximately 9:10 a.m.                                           
                                                                               
  PRESENT                                                                      
                                                                               
  The following  Senate and  House  Finance Committee  members                 
  were present:                                                                
                                                                               
                 SENATE              HOUSE                                     
                                                                               
                 Sen. Frank          Rep. Brown                                
                 Sen. Halford        Rep. Grussendorf                          
                 Sen. Rieger         Rep. Kohring                              
                 Sen. Sharp          Rep. Navarre                              
                 Sen. Zharoff        Rep. Parnell                              
                                                                               
  Senators  Phillips  and Donley  and  Representatives Hanley,                 
  Kelly, Martin, Mulder, and Therriault did not attend.                        
                                                                               
  ALSO ATTENDING:  House Speaker Gail Phillips; Senator Adams;                 
  Senator Green; Representative  Brice; Representative  Elton;                 
  Representative    Finkelstein;     Representative    Davies;                 
  Representative B.  Davis; Bruce  Botelho, Attorney  General,                 
  Dept. of Law;  Wil Condon,  Commissioner, Dept. of  Revenue;                 
  Sen  Tan,  Supervising  Attorney,  Anchorage  Oil,  Gas, and                 
  Mining Section,  Dept. of  Law; Tina  Kobayashi, Supervising                 
  Attorney, Juneau Oil, Gas, and Mining Section, Dept. of Law;                 
  Deborah Vogt, Deputy  Commissioner, Dept. of Revenue;  Nancy                 
  Slagle, Director of Budget Review,  Office of Management and                 
  Budget; and Joan Kasson, Special Assistant, Dept. of Law.                    
                                                                               
  PRESENT FOR A PORTION OF THE PRESENTATION:  Senate President                 
  Drue  Pearce,  Representative  Foster,  Senator  Salo,   and                 
  Senator Hoffman arrived as the meeting was in progress.                      
                                                                               
  SUMMARY INFORMATION                                                          
                                                                               
                        Executive Session                                      
                   Department of Law Overview                                  
                     Oil and Gas Litigation                                    
                                                                               
                                                                               
  Co-chairman Frank advised  that the  purpose of the  meeting                 
  was to go into executive session for a Dept. of Law briefing                 
  on  pending  oil and  gas  litigation.   Co-chairman Halford                 
  MOVED that members meet in executive session.  The committee                 
  members and other participating legislators met in executive                 
  session from 9:12 a.m. to 10:55 a.m.                                         
                                                                               
  ADJOURNMENT                                                                  
                                                                               
  The meeting was adjourned at approximately 10:55 a.m.