Bill Summary – FastDemocracy

State of Alaska
                                                          Fiscal Note
                                                                                           Bill Version:                    HB 340
 2018 Legislative Session
                                                                                           Fiscal Note Number:              1
                                                                                           (H) Publish Date:                2/9/2018
 Identifier:       DCCED-DBS-02-02-18                                        Department:       Department of Commerce, Community and
 Title:            REPEAL BIDCO ASSISTANCE PROGRAM                                             Economic Development
 Sponsor:          RLS BY REQUEST OF THE GOVERNOR                            Appropriation: Banking and Securities
 Requester: Governor                                                         Allocation:       Banking and Securities
                                                                             OMB Component Number:              2808
 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
 Commodities
 Capital Outlay
 Grants & Benefits
 Miscellaneous
 Total Operating                            0.0           0.0          0.0                         0.0                0.0              0.0               0.0
 Fund Source (Operating Only)
 None
 Total                                          0.0             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:
 Not applicable, initial version.
 Prepared By:            Patrice Walsh, Financial Examiner                                                       Phone:         (907)269-5496
 Division:               Banking and Securities                                                                  Date:          02/02/2018 09:50 AM
 Approved By:            Catherine Reardon, Director                                                             Date:          02/02/18
 Agency:                 Division of Administrative Services, DCCED
Printed 2/9/2018                                                      Page 1 of 2                                                        Control Code: Iqooc
                                                                                                                HB 340 - Fiscal Note 1
                                                FISCAL NOTE ANALYSIS
STATE OF ALASKA                                                                 BILL NO. LL 0806-1
2018 LEGISLATIVE SESSION
Analysis
   The revisions to the Alaska Business and Industrial Development Corporation (BIDCO) Act will eliminate the annual
   examination requirement yet retain the division's authority to conduct an examination when needed. Examiners have
   found no substantive problems with violations of Alaska law during the annual examination process.
   The assistance program was designed to help startup BIDCOs with initial capital to make business loans for small to
   medium size companies located throughout the state including rural and distressed areas and minorityowned businesses.
   The program was to be funded with the Alaska BIDCO fund, which was never funded by the legislature. The provision has
   never been used.
   Regulations will be amended to reflect these changes. The Division of Banking and Securities does not anticipate fiscal
   impact from this legislation.
(Revised 9/26/17 OMB/LFD)                                                                                         Page 2 of 2
DCCED-DBS-02-02-18                                            Page 2 of 2                                               Control Code: Iqooc
Statutes affected: 
HB0340A, AM HB 340, introduced 02/09/2018, passed House 04/06/2018, passed Senate 04/25/2018: 10.13.040, 37.17.500, 37.17.690, 37.10.085, 44.33.020, 10.13.600, 10.13.930, 37.17.510, 37.17.520, 37.17.530, 37.17.540, 37.17.550, 37.17.560, 37.17.570, 37.17.580, 37.17.590, 37.17.600, 37.17.610, 37.17.620, 37.17.630, 37.17.640, 37.17.650, 37.17.660
HB0340Z, AM Enrolled HB 340, introduced 04/25/2018: 10.13.040, 37.17.500, 37.17.690, 37.10.085, 44.33.020, 10.13.600, 10.13.930, 37.17.510, 37.17.520, 37.17.530, 37.17.540, 37.17.550, 37.17.560, 37.17.570, 37.17.580, 37.17.590, 37.17.600, 37.17.610, 37.17.620, 37.17.630, 37.17.640, 37.17.650, 37.17.660