Session: State Capitol, Room 427 Juneau, AK 99801-1182 Phone: (907) 465-2828 Fax: (907) 465-4779 Interim: 35477 Kenai Spur Highway, Suite 101 B Soldotna, AK 99669 Phone: (907) 260-3041 Fax: (907) 260-3044 345 W. Sterling Highway, Suite 102 Homer, AK 99603 Phone: (907) 235-0690 Fax: (907) 235-4008

Sponsor Statement for SB 158
Report: State Participation in Natural Gas Pipeline

An Act directing the commissioner of revenue to prepare a report to the legislature relating to the state's participation in owning or financing a gas pipeline project; and providing for an effective date.

Released: March 26, 2001

Commercialization of North Slope natural gas has been one of the legislature's priorities. Potential benefits of commercialization include short and long-term employment, additional state and municipal revenues, opportunities for new industries, and cheap, clean energy for the state. Senate Bill 158 would direct the Commissioner of the Department of Revenue to retain a financial expert to examine whether the state should participate in either ownership or financing of a natural gas pipeline project. The expert would examine any benefit or detriment to a project caused by the state's participation. In the past, the state has retained financial experts to advise it on the possibility of the state participating in a project. Those reports need to be updated.

The bill would insure that the legislature participates in the preparation of the report by:

1. requiring that the chairs of the Senate and House Resources Committees periodically meet with the expert to review data and information about the report;
2. requiring that the commissioner provide progress reports to the chairs every 60 days. The bill would require the commissioner to prepare a comprehensive report, with recommendations, addressing the state's options by January 31, 2002 and submit it to the legislature and the governor.

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