Alaska 30th Legislature (2017-2018) Status: To Executive

SB 97 — An Act relating to pension obligation bonds.

Last action — EFFECTIVE DATE(S) OF LAW 12/26/18

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 30th Legislature (2017-2018). It reached “To Executive” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

8 added · 8 removed

Plain-language change summary

In the revised version of Bill SB 97, the major changes include increased oversight before the issuance of pension obligation bonds by requiring a proposal to be submitted to the Legislative Budget and Audit Committee for review. Specifically, a 45-day waiting period has been established, during which the committee can recommend whether or not to proceed with the issuance. This change is meant to ensure greater transparency and accountability in how the state's pension liabilities are managed, potentially protecting taxpayer interests and maintaining financial stability. Additionally, the limit on the amount of bonds that can be issued has been reduced from $5 billion to $1.5 billion, which aims to further control financial risk.

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Alaska State Legislature The Alaska State Legislature menu Home Senate Current Members Past Members By Session Alphabetical House Current Members Past Members By Session Alphabetical Bills & Laws Bills All Introduced Actions by Date Awaiting Actions Bills sent to Conf Committee Bills in Committee Governor's Vetoes Passed Legislation Prefile Bill Summary Requestor Summary Statistics Sponsor Summary Subject Summary Laws Constitution Constitutional Convention Files Statutes Executive Orders - Current Executive Orders - Historical Administrative Code Journals Session Laws & Resolves Session Laws & Resolves 2017 Session Laws & Resolves 2018 - Previous Year Session Law - Previous Year Legislative Resolves Tools Statute Information Retrieval System Bill Tracking Management Facility Past Legislatures (Archives) Committees Hearing Schedule Standing Committees Finance Committees Special Committees Joint Committees Conference Committees Other Committees Minutes Publications Get Started Information Offices Legislative Affairs Legislative Agencies Links Legislative Branch Executive Branch Judicial Branch Alaska Delegation Home Bill & Laws Bills Enrolled SB 97 Detail FullText txt Enrolled SB 97:
"An Act relating to pension obligation bonds." HOUSE CS FOR SENATE BILL NO.
Relating to pension obligation bonds.
97(FIN) am H 01 "An Act relating to pension obligation bonds." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
00Enrolled SB 97 01 Relating to pension obligation bonds.
03 * Section 1.
02 _______________ 03 * Section 1.
Should the Legislative Budget and Audit Committee recommend within the 14 45-day period that the subsidiary corporation not proceed with the issuance of bonds, 15 the subsidiary corporation shall again review the proposal and, if the subsidiary 16 corporation decides to issue the bonds, the subsidiary corporation shall provide the 17 Legislative Budget and Audit Committee with a statement of the subsidiary 18 corporation's reasons for doing so before issuance under this section.
Should the Legislative Budget and Audit Committee recommend within the 14 45-day period that the subsidiary corporation not proceed with the issuance of bonds, 15 the subsidiary corporation shall again review the proposal, and, if the subsidiary 16 corporation decides to issue the bonds, the subsidiary corporation shall provide the 17 Legislative Budget and Audit Committee with a statement of the subsidiary 18 corporation's reasons for doing so before issuance under this section.
Should the Legislative Budget and Audit Committee recommend within the 07 45-day period that the committee not proceed with the issuance and sale of bonds, the 08 committee shall again review the proposal and, if the committee decides to issue and 09 sell the bonds, the committee shall provide the Legislative Budget and Audit 10 Committee with a statement of the committee's reasons for doing so before issuance 11 under this section.
Should the Legislative Budget and Audit Committee recommend within the 07 45-day period that the committee not proceed with the issuance and sale of bonds, the 08 committee shall again review the proposal, and, if the committee decides to issue and 09 sell the bonds, the committee shall provide the Legislative Budget and Audit 10 Committee with a statement of the committee's reasons for doing so before issuance 11 under this section.
Should the Legislative Budget and Audit Committee recommend within 06 the 45-day period that the corporation not proceed with the issuance and sale of bonds, 07 the corporation shall again review the proposal and, if the corporation decides to issue 08 and sell the bonds, the corporation shall provide the Legislative Budget and Audit 09 Committee with a statement of the corporation's reasons for doing so before issuance 10 under this section.
Should the Legislative Budget and Audit Committee recommend within 06 the 45-day period that the corporation not proceed with the issuance and sale of bonds, 07 the corporation shall again review the proposal, and, if the corporation decides to issue 08 and sell the bonds, the corporation shall provide the Legislative Budget and Audit 09 Committee with a statement of the corporation's reasons for doing so before issuance 10 under this section.
Should the Legislative Budget and Audit 10 Committee recommend within the 45-day period that the subsidiary corporation not 11 proceed with the issuance of bonds, notes, commercial paper, or other obligations, the 12 subsidiary corporation shall again review the proposal and, if the subsidiary 13 corporation decides to issue the bonds, notes, commercial paper, or other obligations, 14 the subsidiary corporation shall provide the Legislative Budget and Audit Committee 15 with a statement of the subsidiary corporation's reasons for doing so before issuance 16 under this section.
Should the Legislative Budget and Audit 10 Committee recommend within the 45-day period that the subsidiary corporation not 11 proceed with the issuance of bonds, notes, commercial paper, or other obligations, the 12 subsidiary corporation shall again review the proposal, and, if the subsidiary 13 corporation decides to issue the bonds, notes, commercial paper, or other obligations, 14 the subsidiary corporation shall provide the Legislative Budget and Audit Committee 15 with a statement of the subsidiary corporation's reasons for doing so before issuance 16 under this section.
Should the Legislative Budget and 02 Audit Committee recommend within the 45-day period that the bond bank authority 03 not proceed with the issuance of bonds or other obligations, the bond bank authority 04 shall again review the proposal and, if the bond bank authority decides to issue the 05 bonds or other obligations, the bond bank authority shall provide the Legislative 06 Budget and Audit Committee with a statement of the bond bank authority's reasons for 07 doing so before issuance under this section.
Should the Legislative Budget and 02 Audit Committee recommend within the 45-day period that the bond bank authority 03 not proceed with the issuance of bonds or other obligations, the bond bank authority 04 shall again review the proposal, and, if the bond bank authority decides to issue the 05 bonds or other obligations, the bond bank authority shall provide the Legislative 06 Budget and Audit Committee with a statement of the bond bank authority's reasons for 07 doing so before issuance under this section.
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Action History

  1. EFFECTIVE DATE(S) OF LAW 12/26/18

  2. LAW W/O GOV SIGNATURE 9/27 CH 109 SLA 18

  3. 3:18 PM 9/4/18 Transmitted to Governor

  4. CONCUR AM OF (H) Y20 N-

  5. CONCUR MESSAGE READ

  6. VERSION: HCS SB 97(FIN) AM H

  7. TRANSMITTED TO (S) AS AMENDED

  8. PASSED Y36 E4

  9. AUTOMATICALLY IN THIRD READING

  10. AM NO 1 ADOPTED UC

  11. RETURN TO SECOND FOR AM 1 UC

  12. Read the third time HCS SB 97(FIN)

  13. NOT TAKEN UP 4/27 - ON 4/28 CALENDAR

  14. ADVANCED TO THIRD READING 4/27 CALENDAR

  15. FIN HCS ADOPTED UC

  16. Read the second time

  17. RULES TO CALENDAR 4/26/2018

  18. Fiscal Note 2: No fiscal impact (Revenue)

  19. FIN No Recommendation: WILSON, TILTON

  20. FIN Do Pass: GARA, PRUITT, ORTIZ, THOMPSON, GUTTENBERG, GRENN, SEATON, FOSTER

  21. FIN RPT HCS(FIN) 8DP 2NR

  22. Referred to Finance

  23. Read the first time - REFERRALS

  24. VERSION: SB 97

  25. TRANSMITTED TO (H)

  26. PASSED Y20 N-

  27. HELD IN THIRD READING

  28. Read the third time SB 97

  29. ADVANCED TO THIRD READING 4/6 CALENDAR

  30. Read the second time

  31. RULES TO CALENDAR 4/5/2017

  32. Fiscal Note 1: No fiscal impact (Revenue)

  33. FIN No Recommendation: DUNLEAVY, OLSON

  34. FIN Do Pass: HOFFMAN, MACKINNON, BISHOP, VON IMHOF, MICCICHE

  35. FIN RPT 5DP 2NR

  36. BILL REPRINTED 3/31/17

  37. PRIME SPONSOR CHANGED: SENATE FINANCE COMMITTEE REPLACED MACKINNON

  38. Referred to Finance

  39. Read the first time - REFERRALS

Sponsors

  • FINANCE · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 64 not signed on

Sponsors (1)

  • FINANCE

Co-sponsors (0)

None.

Not signed on (64)

64 members have not signed on to this bill.

Show all 64 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Shall HCS SB 97(FIN) am H pass the House?

Passed 36 Yea · 0 Nay · 4 Other
Party YeaNayPresentNot Voting
Unaffiliated 26003
D 4000
N 1000
R 5001
Total 36004
% of votes cast 90%0%0%10%
How each member voted (40)
Member Party Vote
Birch — Yea
Chenault — Yea
Drummond — Yea
Eastman — Yea
Gara — Yea
Grenn — Yea
Guttenberg — Yea
Johnston — Yea
Kito — Yea
Knopp — Not Voting
Kreiss-Tomkins — Yea
LeDoux — Yea
Lincoln — Yea
Millett — Yea
Neuman — Yea
Ortiz — Yea
Parish — Yea
Pruitt — Yea
Reinbold — Not Voting
Seaton — Yea
Spohnholz — Yea
Sullivan-Leonard — Yea
Talerico — Yea
Tarr — Yea
Thompson — Not Voting
Tuck — Yea
Wool — Yea
Zulkosky — Yea
Wilson — Yea
Andy Josephson D Yea
Matt Claman D Yea
Neal Foster D Yea
Scott Kawasaki D Yea
Bryce Edgmon N Yea
Cathy Tilton R Yea
Chuck Kopp R Yea
Dan Saddler R Yea
DeLena Johnson R Yea
George Rauscher R Not Voting
Louise Stutes R Yea

Official roll call →

Shall SENATE BILL NO. 97 "An Act relating to pension obligation bonds" pass the Senate?

Passed 20 Yea · 0 Nay
Party YeaNayPresentNot Voting
Unaffiliated 13000
R 4000
D 3000
Total 20000
% of votes cast 100%0%0%0%
How each member voted (20)
Member Party Vote
Begich — Yea
Bishop — Yea
Coghill — Yea
Dunleavy — Yea
Egan — Yea
Gardner — Yea
Hughes — Yea
Kelly — Yea
MacKinnon — Yea
Meyer — Yea
Micciche — Yea
Wilson — Yea
von Imhof — Yea
Bill Wielechowski D Yea
Donald Olson D Yea
Lyman Hoffman D Yea
Bert Stedman R Yea
Cathy Giessel R Yea
Gary Stevens R Yea
Mia Costello R Yea

Official roll call →

Subjects

finance
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 97?
SB 97 is sponsored by FINANCE.
What is the current status of SB 97?
This bill died with 30th Legislature (2017-2018). It reached “To Executive” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 97?
Track SB 97 free on One Click Politics — get push/email alerts when it moves.

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