Alaska 32nd Legislature (2021-2022) Status: Passed House

HB 92 — An Act relating to borrowing in anticipation of revenues; relating to revenue anticipation notes; relating to short-term borrowing; and providing for an effective date.

Last action — (S) REFERRED TO FINANCE

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

This bill died with 32nd Legislature (2021-2022). It reached “Passed House” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

35 added · 43 removed

Plain-language change summary

The current version of Bill HB 92 modifies the language around how the state can borrow money. Specifically, it shifts from a focus on issuing "notes" for revenue anticipation to a more general approach to "agreements to borrow money," which could include various types of short-term borrowing methods. This change is important because it allows for more flexibility in borrowing practices, potentially leading to better financial terms and conditions for the state, while ensuring that borrowed money must still be repaid by the end of the fiscal year following the loan.

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32-GH1707\B CS FOR HOUSE BILL NO.
32-GH1707\A HOUSE BILL NO.
92(FIN) IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-SECOND LEGISLATURE - FIRST SESSION BY THE HOUSE FINANCE COMMITTEE Referred:
92 IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-SECOND LEGISLATURE - FIRST SESSION BY THE HOUSE RULES COMMITTEE BY REQUEST OF THE GOVERNOR Introduced:
Rules1 Sponsor(s):
2/18/21 Referred:
HOUSE RULES COMMITTEE BY REQUEST OF THE GOVERNOR A BILL FOR AN ACT ENTITLED "An Act relating to borrowing in anticipation of revenues;
Finance A BILL FOR AN ACT ENTITLED "An Act relating to borrowing in anticipation of revenues;
relating to short-term borrowing;
relating to line of credit agreements;
The authorization to borrow money includes entering into revenue anticipation notes and other forms of short-term borrowing.
The authorization to borrow money includes entering into revenue anticipation notes and line of credit agreements.
Agreements to borrow money;
Agreements to borrow money and payment.
payment [ISSUANCE AND HB0092b -1- CSHB 92(FIN) New Text Underlined [DELETED TEXT BRACKETED] 32-GH1707\B PAYMENT OF NOTES].
Money HB0092a -1- HB 92 New Text Underlined [DELETED TEXT BRACKETED] 32-GH1707\A borrowed under this chapter [THE COMMISSIONER SHALL ISSUE NOTES FOR THE AMOUNTS BORROWED IN ANTICIPATION OF THE COLLECTION OF REVENUES, DIRECT OR INDIRECT, FOR THAT YEAR.
Money borrowed under this chapter [THE COMMISSIONER SHALL ISSUE NOTES FOR THE AMOUNTS BORROWED IN ANTICIPATION OF THE COLLECTION OF REVENUES, DIRECT OR INDIRECT, FOR THAT YEAR.
To further secure the repayment of the money borrowed, [PAYMENT OF THE NOTES] the commissioner may pledge on behalf of the state such collateral as in the discretion of the commissioner may be necessary to uch borrowing most advantageous to the state.
To further secure the repayment of the money borrowed [PAYMENT OF THE NOTES] the commissioner may pledge on behalf of the state such collateral as in the discretion of the commissioner may be necessary to uch borrowing most advantageous to the state.
Terms for agreements to borrow money [SALE OF NOTES].
Terms for agreements to borrow money.
CSHB 92(FIN) -2- HB0092b New Text Underlined [DELETED TEXT BRACKETED] 32-GH1707\B * Sec.
HB 92 -2- HB0092a New Text Underlined [DELETED TEXT BRACKETED] 32-GH1707\A * Sec.
Execution of agreements to borrow money [NOTES].
Execution of agreements to borrow money.
AS 43.08.050 is amended by adding a new subsection to read:
(b) Within 30 days after an agreement to borrow money is executed under this chapter, the commissioner shall notify the Legislative Budget and Audit Committee that an agreement has been entered into and include (1) the financial terms of the agreement;
and (2) an explanation for the determination that the agreement was in the best financial interests of the state.
* Sec.
8.
9.
8.
HB0092b -3- CSHB 92(FIN) New Text Underlined [DELETED TEXT BRACKETED]
HB0092a -3- HB 92 New Text Underlined [DELETED TEXT BRACKETED]
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Action History

  1. (S) REFERRED TO FINANCE

  2. (S) FIN

  3. (S) READ THE FIRST TIME - REFERRALS

  4. (H) VERSION: CSHB 92(FIN)

  5. (H) TRANSMITTED TO (S)

  6. (H) EFFECTIVE DATE(S) SAME AS PASSAGE

  7. (H) PASSED Y35 N2 E3

  8. (H) READ THE THIRD TIME CSHB 92(FIN)

  9. (H) ADVANCED TO THIRD READING UC

  10. (H) FIN CS ADOPTED UC

  11. (H) READ THE SECOND TIME

  12. (H) RULES TO CALENDAR 5/7/2021

  13. (H) FN2: INDETERMINATE(REV)

  14. (H) NR: CARPENTER, JOSEPHSON

  15. (H) DP: ORTIZ, EDGMON, LEBON, THOMPSON, WOOL, RASMUSSEN, MERRICK, FOSTER

  16. (H) FIN RPT CS(FIN) NEW TITLE 8DP 2NR

  17. (H) Minutes (HFIN)

  18. (H) Moved CSHB 92(FIN) Out of Committee

  19. (H) FINANCE at 09:00 AM ADAMS 519

  20. (H) Minutes (HFIN)

  21. (H) Heard & Held

  22. (H) FINANCE at 01:30 PM ADAMS 519

  23. (H) Minutes (HFIN)

  24. (H) Heard & Held

  25. (H) FINANCE at 09:00 AM ADAMS 519

  26. (H) GOVERNOR'S TRANSMITTAL LETTER

  27. (H) FN1: ZERO(REV)

  28. (H) FIN

  29. (H) READ THE FIRST TIME - REFERRALS

Sponsors

  • HOUSE RULES BY REQUEST OF THE GOVERNOR · Primary

Sponsorship breakdown

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

Sponsors (1)

  • HOUSE RULES BY REQUEST OF THE GOVERNOR

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.

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Votes

Subjects

finance
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Frequently asked questions

Who sponsors HB 92?
HB 92 is sponsored by HOUSE RULES BY REQUEST OF THE GOVERNOR.
What is the current status of HB 92?
This bill died with 32nd Legislature (2021-2022). It reached “Passed House” 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 HB 92?
Track HB 92 free on One Click Politics — get push/email alerts when it moves.

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