Bill Summary – FastDemocracy

State of Alaska
                                                            Fiscal Note
                                                                                             Bill Version:                    CSHB 124(FIN)
 2018 Legislative Session
                                                                                             Fiscal Note Number:              2
                                                                                             (S) Publish Date:                1/31/2018
 Identifier:        HB124CS(FIN)-DCCED-CBPL-01-26-18                           Department:       Department of Commerce, Community and
 Title:             BENEFIT CORPORATIONS                                                         Economic Development
 Sponsor:           KITO                                                       Appropriation: Corporations, Business and Professional
 Requester: (S) Labor & Commerce                                                                 Licensing
                                                                               Allocation:       Corporations, Business and Professional
                                                                                                 Licensing
                                                                               OMB Component Number:              2360
 Expenditures/Revenues
 Note: Amounts do not include inflation unless otherwise noted below.                                                               (Thousands of Dollars)
                                                 Included in
                                    FY2019       Governor's
                                Appropriation      FY2019                                           Out-Year Cost Estimates
                                  Requested       Request
 OPERATING EXPENDITURES               FY 2019        FY 2019       FY 2020                     FY 2021           FY 2022            FY 2023        FY 2024
 Personal Services
 Travel
 Services                                 22.4
 Commodities
 Capital Outlay
 Grants & Benefits
 Miscellaneous
 Total Operating                          22.4            0.0          0.0                           0.0                0.0              0.0             0.0
 Fund Source (Operating Only)
 1005 GF/Prgm (DGF)                              22.4
 Total                                           22.4             0.0                 0.0            0.0                0.0              0.0             0.0
 Positions
 Full-time
 Part-time
 Temporary
 Change in Revenues
 None
 Total                                            0.0             0.0                 0.0            0.0                0.0              0.0             0.0
 Estimated SUPPLEMENTAL (FY2018) cost:            0.0                    (separate supplemental appropriation required)
 (discuss reasons and fund source(s) in analysis section)
 Estimated CAPITAL (FY2019) cost:                 0.0                    (separate capital appropriation required)
 (discuss reasons and fund source(s) in analysis section)
 ASSOCIATED REGULATIONS
 Does the bill direct, or will the bill result in, regulation changes adopted by your agency?                Yes
 If yes, by what date are the regulations to be adopted, amended or repealed?                                12/31/18
 Why this fiscal note differs from previous version/comments:
 Reevaluated costs and updated to new form.
 Prepared By:              Janey McCullough, Director                                                              Phone:         (907)465-2538
 Division:                 Corporations, Business and Professional Licensing                                       Date:          01/26/2018
 Approved By:              Catherine Reardon, Director                                                             Date:          01/26/18
 Agency:                   Division of Administrative Services, DCCED
Printed 1/31/2018                                                       Page 1 of 2                                                        Control Code: UkWzH
                                                                                                         CSHB 124(FIN) - Fiscal Note 2
                                                  FISCAL NOTE ANALYSIS
STATE OF ALASKA                                                                    BILL NO. CSHB 124(FIN)
2018 LEGISLATIVE SESSION
Analysis
   HB 124 creates a new chapter of statute, Chapter 60, Benefit Corporations, which will allow a new or existing domestic
   (Alaskan) business corporation (organized under AS 10.06) or domestic professional corporation (organized under AS
   10.45) to become a benefit corporation at creation or through an amendment.
   To implement this legislation the corporations database will need a systems change to create a new entity indicator, new
   types of officials, and a new reporting requirement. A regulations project will be necessary to adopt regulations for the
   newly created Chapter 60, Benefit Corporations, and to amend AS 10.06.633.
   If the bill passes the following expenses will be incurred:
   Services:         $11.9 (legal costs to amend regulations, printing, and postage in the first year)
                     $10.5 (information technology services for system change)
   Corporation filing fees are General Fund/Program Receipts fund source 1005 GF/Prgm (DGF). Corporation filing fees are
   set in regulation per AS 10 and 32, and revenue in excess of authorized budgeted expenses reverts to the State of Alaska
   general fund.
(Revised 9/26/17 OMB/LFD)                                                                                         Page 2 of 2
HB124CS(FIN)-DCCED-CBPL-01-26-18                                 Page 2 of 2                                          Control Code: UkWzH
Statutes affected: 
HB0124A, AM HB 124, introduced 02/15/2017: 10.06.633, 10.06.608, 10.60.570, 10.60.990, 10.60.700, 10.60.020, 10.60.030, 10.06.005, 10.60.040, 10.60.050, 10.60.060, 10.60.010, 10.60.070, 10.60.100, 10.60.110, 10.06.450, 10.60.120, 10.60.140, 10.60.130, 10.60.150, 10.60.220, 10.60.160, 10.06.453, 10.06.463, 10.60.170, 10.60.210, 10.60.180, 10.60.500, 10.60.230, 10.60.190, 10.60.200, 10.06.210, 10.60.240, 10.06.483, 10.60.250, 10.60.270, 10.60.260, 10.60.280, 10.60.300, 10.60.320, 10.60.310, 10.06.435, 10.06.805, 10.60.510, 10.60.520, 10.60.530, 10.60.540, 10.60.550, 10.60.560, 10.60.710, 10.06.574, 10.06.582, 10.60.720, 10.60.730, 10.60.740, 10.60.910, 10.60.920, 10.60.930, 10.60.940
HB0124B, AM CSHB 124(L&C), introduced 04/11/2017: 10.06.633, 10.06.608, 10.60.570, 10.60.990, 10.60.700, 10.60.020, 10.60.030, 10.06.005, 10.60.040, 10.60.050, 10.60.060, 10.60.010, 10.60.070, 10.60.100, 10.60.110, 10.06.450, 10.60.120, 10.60.140, 10.60.130, 10.60.150, 10.60.220, 10.60.160, 10.06.453, 10.06.463, 10.60.170, 10.60.210, 10.60.180, 10.60.500, 10.60.230, 10.60.190, 10.60.200, 10.06.210, 10.60.240, 10.06.483, 10.60.250, 10.60.270, 10.60.260, 10.60.280, 10.60.300, 10.60.320, 10.60.310, 10.06.435, 10.06.805, 10.60.510, 10.60.520, 10.60.530, 10.60.540, 10.60.550, 10.60.560, 10.60.710, 10.06.574, 10.06.582, 10.60.720, 10.60.730, 10.60.740, 10.60.910, 10.60.920, 10.60.930, 10.60.940
HB0124C, AM CSHB 124(FIN), introduced 05/10/2017, passed House 05/16/2017: 10.06.633, 10.06.608, 10.60.570, 10.60.990, 10.60.700, 10.60.020, 10.60.030, 10.06.005, 10.60.040, 10.60.050, 10.60.060, 10.60.010, 10.60.070, 10.60.100, 10.60.110, 10.06.450, 10.60.120, 10.60.140, 10.60.130, 10.60.150, 10.60.220, 10.60.160, 10.06.453, 10.06.463, 10.60.170, 10.60.210, 10.60.180, 10.60.500, 10.60.230, 10.60.190, 10.60.200, 10.06.210, 10.60.240, 10.06.483, 10.60.250, 10.60.270, 10.60.260, 10.60.280, 10.60.300, 10.60.320, 10.60.310, 10.06.435, 10.06.805, 10.60.510, 10.60.520, 10.60.530, 10.60.540, 10.60.550, 10.60.560, 10.60.710, 10.06.574, 10.06.582, 10.60.720, 10.60.725, C.F.R, 10.60.730, 10.60.740, 10.60.910, 10.60.920, 10.60.930, 10.60.940