"An Act relating to the compensation for board members of the Alaska Housing Finance Corporation; and providing for an effective date. "
"The current level of $100 per diem has been in place since the inception of the Corporation in 1971."
- Rep. Kott
House Bill 283, an Act relating to the compensation for board members of the Alaska Housing Finance Corporation, would increase the per diem from the current level of $100 to $400.
The current level of $100 per diem has been in place since the inception of the Corporation in 1971. This legislation would provide a much needed increase in the amount of per diem commensurate with the importance of the work being done. HB 283 would increase the per diem compensation to $400, which is the currently the amount received by the Alaska Permanent Fund Corporation Board of Trustees.
The Board of Directors of AHFC is required to review and consider topics having to do with bonding, the mortgage industry, public housing, and many other technical issues. In any given year, the Board is asked to consider and approve $600 million to $1 billion in bond programs and millions of dollars in tax credit and other federal grants. The workload is such that board members must spend a great deal of their personal time studying and educating themselves about corporate activities. These are just some of the reasons why it is important to do what is necessary to help keep as capable a board as possible.
The compensation is only applicable to the four public members of the Corporation's seven member Board of Directors. It is estimated that the increase in per diem would cost the Corporation approximately $15,000 in corporate receipts per fiscal year.