Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Railroad Financing topic
No spam. Unsubscribe anytime.
Senate Finance Committee advances HB65 allowing Alaska Railroad revenue bonds for Port MacKenzie extension
Summary
The Senate Finance Committee voted to send HB65 out of committee with individual recommendations after discussion of an amendment and a zero fiscal note. A proposed amendment authorizing revenue bonds for the Port MacKenzie rail extension was presented and then withdrawn.
The Senate Finance Committee on Feb. 24 took HB65 — a bill addressing Alaska Railroad financing for a Port MacKenzie rail extension — out of committee with individual recommendations and a notation of a zero fiscal note.
The bill was discussed at the committee’s public session after members identified it as a measure tied to long-term infrastructure and economic development. Senator Crock moved and described an amendment that would authorize the Alaska Railroad Corporation to issue revenue bonds to finance completion of the Port MacKenzie rail extension. Senator Crock said the proposal was “about economic growth” and framed the project as supporting construction, development and jobs while providing an alternative transport route if road or port access were lost after an earthquake. After describing the amendment’s objectives, the senator withdrew it, saying they wanted to “keep this bill really clean.”
Jane Pearson, staff to Rep. Louise Stutes, told the committee the bill was “important to the railroad, important to the city of Sword and important really to expand our economy in Alaska.”
Senator Stedman moved that House Bill 65, LSO 34-448 (as amended in committee record), be reported from committee with individual recommendations and with the attached fiscal note of zero. The transcript records that objections were removed and the committee adopted the motion; the clerk gathered signatures and the committee marked the bill as passed out of committee.
Committee discussion noted that any construction would likely require federal funds and that the amendment’s purpose was to position the railroad to take advantage of federal opportunities if and when they materialize. No formal roll-call vote tally is recorded in the transcript; the committee chair announced the bill “passed by the committee” and signatures were collected.
The committee did not take other substantive actions on HB65 at the meeting; no implementation timetable or bond issuance terms were presented and the fiscal note on file was listed as $0.
The committee took a short recess to collect signatures and then continued the agenda.
