SENATE FINANCE COMMITTEE                                                                                       
                      April 19, 2011                                                                                            
                        11:10 a.m.                                                                                              
                                                                                                                                
                                                                                                                                
11:10:15 AM                                                                                                                   
                                                                                                                                
CALL TO ORDER                                                                                                                 
                                                                                                                                
Co-Chair Stedman called the Senate Finance Committee                                                                            
meeting to order at 11:10 a.m.                                                                                                  
                                                                                                                                
MEMBERS PRESENT                                                                                                               
                                                                                                                                
Senator Lyman Hoffman, Co-Chair                                                                                                 
Senator Bert Stedman, Co-Chair                                                                                                  
Senator Lesil McGuire, Vice-Chair                                                                                               
Senator Johnny Ellis                                                                                                            
Senator Dennis Egan                                                                                                             
Senator Donny Olson                                                                                                             
Senator Joe Thomas                                                                                                              
                                                                                                                                
                                                                                                                                
MEMBERS ABSENT                                                                                                                
                                                                                                                                
None                                                                                                                            
                                                                                                                                
ALSO PRESENT                                                                                                                  
                                                                                                                                
Representative Anna Fairclough; Representative Mark Neuman.                                                                     
                                                                                                                                
SUMMARY                                                                                                                       
                                                                                                                                
SB  42    POWER PROJECT; ALASKA ENERGY AUTHORITY                                                                                
                                                                                                                                
          SB  42 was  REPORTED out  of committee  with a  "do                                                                   
          pass"  recommendation   and  with  two  new  fiscal                                                                   
          impact  notes  from  the  Department  of  Commerce,                                                                   
          Community and Economic Development.                                                                                   
                                                                                                                                
                                                                                                                                
SENATE BILL NO. 42                                                                                                            
                                                                                                                                
     "An  Act  relating  to  the   procurement  of  supplies,                                                                   
     services,  professional services,  and construction  for                                                                   
     the  Alaska Energy  Authority;  establishing the  Alaska                                                                   
     Railbelt   energy  fund  and   relating  to   the  fund;                                                                   
     relating  to and  repealing  the  Railbelt energy  fund;                                                                   
     relating  to  the quorum  of  the  board of  the  Alaska                                                                   
     Energy Authority;  relating to the powers  of the Alaska                                                                   
     Energy  Authority regarding  employees and the  transfer                                                                   
     of   certain   employees   of  the   Alaska   Industrial                                                                   
     Development  Export  Authority   to  the  Alaska  Energy                                                                   
     Authority;   relating  to   acquiring  or   constructing                                                                   
     certain  projects   by  the  Alaska   Energy  Authority;                                                                   
     relating  to the  definition of  'feasibility study'  in                                                                   
     the Alaska  Energy Authority  Act; and providing  for an                                                                   
     effective date."                                                                                                           
                                                                                                                                
11:10:39 AM                                                                                                                   
                                                                                                                                
Co-Chair Stedman acknowledged the bill on agenda.                                                                               
                                                                                                                                
Co-Chair Hoffman  MOVED to  report CSSB  42 out of  committee                                                                   
with individual  recommendations and the  accompanying fiscal                                                                   
note(s).                                                                                                                        
                                                                                                                                
Co-Chair Stedman  mentioned the two fiscal notes  attached to                                                                   
the legislation.  One fiscal note from the  Alaska Industrial                                                                   
Development  Export Authority  for $1,125,000 in  interagency                                                                   
receipts  for eight staff  positions in  the Susitna  project                                                                   
office.  The other  fiscal note  originated  with the  Alaska                                                                   
Energy Authority for $1,763,000 in CIP receipts.                                                                                
                                                                                                                                
CSSB  42 was  REPORTED  out of  committee  with  a "do  pass"                                                                   
recommendation  and with  two  new fiscal  impact notes  from                                                                   
the   Department   of  Commerce,   Community   and   Economic                                                                   
Development.                                                                                                                    
                                                                                                                                
(11:12 AM RECESS)                                                                                                               
                                                                                                                                
ADJOURNMENT                                                                                                                   
                                                                                                                                
The meeting was adjourned at 4:46 PM.