The URL can be used to link to this page

Home My WebLink AboutSFIN18 SB 106S E N A T F I N A N C E C O M M I T T E E R f C R T DATE: 2/17/93 FURTHER: DATE TURNED / .INTO OFFICE: '■/-/<> 3 The Finance Committee considered SENATE BILL NO. 106 An Act authorizing power transmission interties between Anchorage and the Kenai Peninsula, between Healy and Fairbanks, and between the Swan Lake and Tyee Lake hydroelectric projects, and approving the design and construction costs of the interties; efd. and recommends: f Replace with CS 1 oC, or [ ] adopt previous CS [ ] attaches amendment(s) .(FINANCE) .( ) [ ] adopts [ ] further referral to the ____ [/do pass [ ] do not pass [ ] no recommendation [ j individual recommendations NEW FISCAL NOTES Department Date Zero Letter of Intent Fiscal PREVIOUS FISCAL NOTES Department Date [ same title [ ’ new title [ ] technical title change (HB only) Zero Fiscal D d E 5 Cewf < 7 ^- e- DC ^ r.cr—y i - e - D C * £ D cn-n iLNl.o [ ] Appropriation No Fiscal Note DO PASS;OTHER ^COMMENDATIONS:A/*) /^Cr <T 1' 2- 'Try.-.Co-Chair: Signature/Recommendation Co'Chair: Signatuj^/Recommendation SENT 9V:I 4-14-93 I- '14133* * ! AK ENERGY AUTHORITY-*858683991 1 F IS C A L N O T E STATE OF ALASKA BILL NO. CSSB 1061993 LEGISLATIVE SESSION Revision Date: April 14.1993__________________________________ Dept. Affected: Commerce & Economlo Development______ Title: An Act establishing the energy authority revolving fund;__________ BRU: Alaska Energy Authority______________________ rmallna.!hiflral decfflflcatlon lavsMna loan fund aDd.tinMh ftje) revoMnfl loan fund: relating to proouramenla far certain trana- minlcn llnaa: repealing a provision relating to Insurance requirements in construction contracts of the Alaska Energy Authority; authorizing power transmission Internet between Anchorac* end the Kenal Penlnsuia. between Healv and Fairbanks. b* *ween Swan Like and Tvee Lake hydroelectric aroiecta. and batweeii 'uttonand Glenn- alien and apprsvino the deskm and construction coeta.of the Interties: and srovidlna for an affective date._______________________________ Component: Power Coat Equalization Grants_____________ Sponsor: StnitorfSjarp. T»ylBL-Millar__________________________ _________________________________________________ Requestor Santa Flnincs C om m ittee ______________________COMPONENT SERIAL NO._2£5 ExDendHuree-'Revenueg______________ (Thousands of Dollars) OPERATING FYOO FY01 FY03 FY03 FYO* FYOfl PERSONNEL 3ERV1CE3 TRAVEL CONTRACTUAL SUPPLIES EQUIPMENT LAND A STRUCTURES GRANTS, CLAIMS MISCELLANEOUS TOTAL OPE RATING 0.0 0.0 0.0 0.0 0.0 0.0 CAPITAL ! I ! REVENUE FUND SOURCES:I I I FUNDING (Thouaand* of Dollere) 1CC2 Federal Receipts 1003 GF Match 1004 GF -14,671.0 -17,000.0 -17,000.0 -17.000.0 -17,000.0 -17,000.0 1006 GF/Progrem Receipt* 1006 GF/MHTA Other 14.571.0 17,000.0 17,000.0 17,000.0 17,000.0 17,000.0TOTAL0.0 0.0 0.0 0.0 0.0 0.0 POSITIONS: FULL-TIME PART-TIME • TEMPORARY Estimate of current year (FY93) Impact: S__________Q □ ANALYSIS: (Attach a separate page If necessary) Prepared by:. Ron GlZlnLfXiCUflW PlffCtor___________________________________________ . nona:18Q7t 481-7877 DMalon: Altahi Energy Authority_______________________________,, a _______________ Data:__________________ Approved by Commissioner:______________________( -s > \ S A \ r~____________ Data: L> - r~ ~ 5 Agency: Commerce A Economic Deveiaement \____________________________________ SENT BY:: 4-U-93 -14:33- -: ak energy authority*85668399 <‘#12 F IS C A L N O T E STATE OF ALASKA BILL NO. CSSB 106 1993 LEGISLATIVE SESSION Revtalon Date: April 14.1983 ______________________ Dapt. Affected: Commerce & Ecanogfc-DftvelQPmgnt----- Title: An Act eetab.1»hlnc the energy authority rawtving fund;__________ BRU: Alaeke Enemy Authority-------------------- repealing the mat electrification rsvolvinq loan fund and the bulk fuel revolving loan fund: rotating to procurnmmtii for oartitn trane- mlMion W repealing a proMalo^atlBfllolnaurariM reaulrennents In construction contraotB of the AWg Enemy Authority: auihflfrinfl power trantmiaalon Intortlea between Anchorage and the Kan a] Penlnaula, between Haelv and Fairbanks. Mtwesn 5win LafatMd Tyee Lak» hytftcelectrlci project^ and between Sutton and Qtoin- alHn-«KijB)Bta>ino the dealgn and construction coata ottheJntertte*: and providing for an affective data._______________________________ Componant: PTWff CoatEaualizatisn fiTT.ta----------- Sponsor Senators Sham. Taylor, Miller______________________________________________________________________________ Requeator Sanata Finance Committee___________________________ COMPONENT SERIAL NO. 865 Expendlturea/Revenues_________________________ (Thouaanda of Dollars) OPERATING FY08 FY07 FYOfl FY08 FY10 FY11 PERSONNEL SERVICES TRAVEL CONTRACTUAL SUPPLIES EQUIPMENT LAND 4 STRUCTURES GRANTS. CLAIMS MISCELLANEOUS TOTAL OPERATING 0.0 0.0 0.0 0.0 0.0 0.0 CAPITAL i 1 REVENUE FUND SOURCES: FUNDING (Thouaanda of Dollar*) 1002 Federal Receipt* 1003 OF Match 1004 GF 1005 GF/Progrsm Receipt* 1000 GF/MHTA Other -17,000.0 -17,000.0 -17,000.0 -17,000.0 -17,000.0 -17,000.0 17,000.0 17,000,0 17,000.0 17,000.0 17.COO.O 17.000.0 TOTAL 0.0 0.0 0.0 0.0 0.0 0.0 POSITIONS: FULL-TiME PART-TIME TEMPORARY Estimate of currant yaar (FY83) Impact: $___________0.0 ANALYSIS: (Attach a separate page if neccaaary) Prepared by. Ron Qtnrinl. Executive Dlredor___________________________________ DivWor* AlttlaEnsrgy Authority___________________^ -1r T-_____*___;____ Approved by Commlaawner_______ Agency: Commerce S Economic Development !_____________ Phor,e:(907l W1-7S77 Date:________________ Dete:_ M _ l£ _ V jL ScNT BY:: 4-14-93 ;-14:34* : AK energy authority-*85868399:#13 F IS C A L N O T E STATE OF ALASKA 1993 LEGISLATIVE SESSION Revision Date: AptH 14.19M ________________ BILL NO. CSSB 106 Title: An Act eetabllehlna the energy authority ravoMng fund; _____ repealing the rural Xactrlfloitten revolving loan fund and the bulk fuel revolving loan fund: relating to precurinianti for certain trana- mlaalon Hnes: repealing 1 provlaton ratrtinato tnaumnca reoulramanta in construction oantmca of tha Alaaka Enemy Authority; authorizing power tranamlailon Intertlee batwaan Anchorage and trie Kantl Peninsula, between Hart/ and Falrtanka. batwaan Swan Lake and Tuea Latea hvdmalactric protecta. and batwaan Sutton and Qlenn- allen and approving the daeion and construction coata of the Marties: and Dcovldlno for an after tiva data._______________________________ Dept Affaotad: Commerce f, Economic Devaloamant bru ; .AlMhtt.Enygy Authority------------------------------ Component Power Coat£guiliatlQn SBDtlSponsor SanatanB Sharp, Tavlor. Millar Requeator Senate Finer,oa Committee COMPONENT SERIAL NO.Jfi Expendltures/Revenuea OPERATING FY12 FY13 FY FY FY FY PERSONNEL SERVICES TRAVEL CONTRACTUALSUPPLIES EQUIPMENT LAND 4 STRUCTURES GRANTS, CLAIMSMISCELLANEOUS TOTAL OPERATING 0.0 0J> CAPITAL REVENUE FUND SOURCES; 1002Fadaral Receipt* 1003 GF Match 1004 GF 1005 GF/Program Recelpta 1006 GF/MHTA Othar -17,000.0 -17,000.0 17,000.0 17.000.0TOTAL0.0 0.0 POSITIONS: FULL-TIME PART-TIME TEMPORARY Eitlmata of currant vaar (FY931 Impact $0.0 analysis ; (Attach a eepemte page If nacaasary) Prepared bv: Ron Gandnl. Eveeuttva Director Phon*:<B071561-7877 DlvWon: Alaaka Enwov Authority ________r*Data; Ado roved by Commtiaionar ^Data: H -K -9^ Agency: Ccm m arct A Economic Development SENT BY:! 4-14-93 .1 '.14:32' : AK ENERGY AUTHORITY-*85868399I#10 F IS C A L N O T E STATE OF ALASKA BILL NO. CSSB 1061993 LEGISLATIVE SESSION Revision Dat* AcriM4.1993______________________________________Dept, Affected: Commerce & Economic Development Title: An Act establishing the ener^ authority revolving fund;___________BRU: Alaska Energy Authority____________________________ repeal Ingttai-rural alactrifloatlnn revolving loir, fund and the bulk fuel revoMna loan ftmd: retattna to procurements for certain trana- mlaalon Unee: repealing a provision rotating to insurance requirements In construction contracta cf the AlflakaEnamv Authority: authorizing power tmnsml—Ion Intwtiee between Anchorage and the Kenal Peninsula. between Healv and Fairbanks, between Swan Laka.and Tvee Lake hydroelectric protects, and between Sutton and Qiann- allen and approving the design and construction caste pf the interliaa: and DTOVldlnQ for an effective date.__________________________________ Component: Power Ccet Equalization Grants______________ Sponsor S«tneiont.ShafB^TjylQtJ411ly___________________________________________________________________________________ Requestor Senate Finance Corrmittee_____________________________ COMPONENT SERIAL NO. 965 cxpendlturaa/Revonuea___________________________ (Thousands of Dollars) OPERA T1 NO FY#4 FY8S FYM FY37 FYB8 FY## PERSONNEL SERVICES TRAVELCONTRACTUAL SUPPLIES EQUIPMENT LAND 4 STRUCTURES GRANTS, CLAIMS MISCELLANEOUS TOTAL OPERATING 0,0 0.0 0.0 0.0 0.0 0.0 ; cAPtTAL________________________I________ j________ |________ REVENUE FUND 80URCHS; 1 I 1 I I I FUNP'NQ______________________________________ (Thousands of Dollars) 1002 Federal ReMipta 1003 GF Match 1004 GF 1005 GF/Prosram Receipts 1 COS GF/MHTAOther ~ 0.0 ■2,429.0 -4,857.0 ■7,283.0 -9,714.0 •12.143.0 0 2.428.0 4,857.0 7,285.0 9,714.0 o?TOTAL 0.0 0.0 0.0 9.0 0.0 0.0 POSITIONS: FULL-TIME PART-TIME TEMPORARY Eatlmate jf current year (FYB3) Impact 3__________0.0 ANAL /6 IS: (Attach a separata pegs if necessary) IS MPrepared sv: Run Qtrzlni. Executive Directed _ Wt-1 & '______________________ Phone:f9071581-7877 Division- fr»ia Energy Authatlhf_____________________________. . Dcte:__________________ Approved oy Commleslorw:__________________^ V'> >■ v -V-A ________________ Pete: u - IS - V AflB' oy: SflmiirBftA.^flPPQfnlc Pevstogfrtnt__________!_______________________________ SENT BY:; 4-14-93 !'14:29' •! AK ENERGY AUTHORITY-*958683991# 6 F IS C A L N O T E STATE OF ALASKA 1993 LEGISLATIVE SESSION Revision Date: April 14.1993 ________________ BILL NO. CSSB 106 Title: An Act establishing the eneroy authority revotvina fund;_______ repealing the rural electrification nevalvlna lain fund anti the bulk fuel revolving loan fur.d: relating to procurement! for certain trana- miaaion llnea: repealing a provlflon .;mtlnc to Insurance reaulremanta in cenatruetlon contracta of the Alaska Energy Authority, authorizing power tranamlaalon Intarttaa between AnchflfMa and the Konal Penlneule^taatween Haalv and Fairbanks. between Swan Lake and TWe Lake hydroelectric prelects. and between Sutton and. Gton- alien and approving the deeion and eonatnicti&n coata of the InterBee: and prav1tfna.fsf.flD cffecttva.den---------------------------------------------- Sponsor Senators Sham, Tavior, Miller ------------------- Repueator Senate Finance Committee__________________________ Dept. Affected: Commerce & Economlo Development. BRU: Alaska Energy Authority_____________________ Component: PCE Administration Exp andltui'ss/R avenues COMPONENT SERIAL NO. .222 (Thousands of Dollara? OPERATING FY94 FY90 FY98 FY87 FY99 FY90 PERSONNEL SERVICES TRAVEL CONTRACTUALSUPPLIES EQUIPMENT LAND & STRUCTURES GRANTS, CLAIMSMISCELLANEOUS TOTAL OPERATING 0.0 0.0 1.0 0.0 0.0 0.0 CAPITAL 1 REVENUE FUND 80URCES:J _ ............................... „ _ . .......... ............ FUNDING (Thousands of Dollars) 10C2 Federal Receipts 10G3 GF Matoh 1004 GF 0,0 0.0 0.0 0.0 0.0 0.0 1005 GF/Program Recelpta 1008 QF/MHTA Other TOTAL 0.0 0.0 0.0 0.0 0.0 0.0 POSITIONS: FULL-TIME PART-TIMF. TEMPORARY Eatlmata of current yeer (FY93) Impact: $_JUL ANALYSIS: (Attach a separate page if neeeeaary) Prepared by: Ron GarripLExacuBva Director DMelon: Alaska Energy Authority__________ 6 4 rr Approved by Cammlsswiner: k i- Agency: Pwrtpunt .of.Cpmmwca A.LccjiomJa.Diyeloppenl. JL Phene: fBOTI Sfll -7077 Data:_______________,\S4T“net.- H-IS ■cj \ SENT BY:I 4-14-93 i' 1.4:29' ,» AK ENERGY AUTHORITY-*85868399;# 7 F IS C A L N O T E STATE OF ALASKA 1393 LEGISLATIVE SE5SION Revision Date: April 14.18B3 BILL NO. CSSB 108 Title: Ah Act establishing the energy authority revolving fund;_______ repealing the rural eteotrffloaHon reygMnfl loan fund and IhO fuel revolvfng loan fund; rshilrw to erccLTomorte fqr.°«fr!n-tgn»; mission Bnsa: rapaallna e provtelon relating to insunnct ruflUlraminiS In construction contracts of the Alaaha Energy Authority; authorising cower transmission inlertlee between Anchorage and the Kenai Peninsula, between Heatv end Fairbanks, between Swan Lflltt and Tvee Lake hvdroelectno prelects. and hHwtsn Sutton and Glenn- alien and epprovlng iha denlan and construction oosts of the inlattlML and providing for en effective date---------------------------------------------- Sponsor Stratot S im Taylor. Miller--------------------------------------Requestor. Senate Finance Committee__________________________ Dept. Affected: Commerce & Economic Development BRU: Alaska Energy A u u icrttv ------------ component: PCS Administration COMPONENT SERIAL NO. 373 OPERATING FYOO FY01 FY02 FY03 FY04 FY0S PERSONNEL SERVICES TRAVEL CONTRACTUAL SUPPUES EQUIPMENT LAND 4 STRUCTURES GRANTS, CLAIMS MISCELLANEOUS • TOTAL OPERATING 0.0 0.0 0.0 0.0 0.0 0.0 CAPITAL REVENUE FUND SOURCES: FUNDING __________ (Thousands of Dollars) 1002 Federal Receipts 1003 GF Match 1004 GF *005 GFiProgrem Receipts 1006GF/MHTA Other 0.0 -247.7 -256.6 -270.3 -282.6 -295.4 247.7 256.6 270.5 282.6 29S.4 TOTAL 0.0 0.0 0 JO 0,0 0.0 0.0 POSITIONS: FULL-TIMEPART-TIME TEMPORARY Estimate of current year (FYB3) Impact: i 0.0 ANALYSIS: (Attach a asperate page If neceeaary) Prepared by: Ron GarztnLExafttfv Director______________________________________________ Phone: (9Q7) 561-7377 OMsioo: AlMia Enargy Authority________________ a.____________________ Date:_______________ Approved by Commissioner________________________________VV*_r __________________ Pete: *-/ - / c ~ ^1, Agency: Dtpartmant of Qommarea 4 £wnomloJevslopmsnt________________________________ SENT BY:; 4-U -93 ; -1.4:30 • ak energy authority-*8586839913 8 F IS C A L N O T E STATE OF ALASKA BILL NO. CSSB 1061993 LEGISLATIVE SESSION Revision Oats: Acrll 14.1993__________________________________ Dept. Affected: Commerce & Economic envelopment ----- Title: An Act establlahing the energy authority revolving fund;_________BRU: Alaeka Energy Authority----------------------- repealing the run) electrification revoMna loan fund end the bulk fuel ravoMna loan funa: relating to procurements fcf certain trana- mltelon llnea: reneaHnn a pravieian relating to Ineunnce reoul—nents in oonatuictlen contracts of the Alaeki Enemy Authority: authorizing power tnanamlaalcn Interties brtwsan Anchoraoe and the Kenel Peninsula. between Haelv end Fairbanks, between Swan Lakfl and Tvee Lake hvdroetaeWc orelacte. and between Suttcn and Glenn- alien and approving ihedetior and cmatructlon coato of the InHfliai: ■nd crevidlna for an effective date,_______________________________Component BSEAtimlnfflrcflgn --------------------- Sponsor Senators Shere. Tevlor. Miller _____________________________ Requestor Senate: ance Committee COMPONENT SERIAL NO. J22 Expendlturee/Revenuee (Thcueande of Collars) OPERATING FYoe;PY07 PY08 FY09 FY10 FY11 PERSONNEL SERVICES TRAVEL CONTRACTUAL 9UPPLIES EQUIPMENT LAND & STRUCTURES GRANTS, CLAIMS MISCELLANEOUS TOTAL OPERATING 0.0 0.0 0.0 0.0 0.0 0.0 CAPITAL ! REVENUE FUND SOURCES: FUNDING (Thouaanda of Dollar*) 1002 Federal Receipts 10C3GF Match 1004 GF •308.7 -322.5 -337.1 -3S2.2 -308.1 -364.6 1006 GF/Pregram Receipt* 1006 GF/MHTA Other (AEA Revolving Fund)309.7 322.6 337.1 352,2 m i 304.6 TOTAL 0.0 0.0 0.0 0.0 0.0 0.0 POSITIONS: FULUTIME PART-TIME TEMPORARY cetlmeta of currant vear (FYW) Imoact: S 0 - ANALYSIS: (Atto'h a separate page if neceseery) Prepared by: Ron Qanrin!. Executive Director____________________________ Phone; (M7) 581-7877 DMelon: Alaeka Energy Authority_________________ . • -________________ Data:_____________ Approved by Commleeloner:________________________—-v X -______________ Data: Agency: Decartment of Commerce S Economic Development______________________________ SENT BY:I 4-14-93 : -1.4:31 • S AK ENERGY AUTHORITY-*85868399 !# 9 F IS C A L N O T E STATE OF ALASKA 1993 LEGISLATIVE SESSION Rsvlelcn Date: April 1*. 1893_______________ BILL NO. CSSB 106 Tttte: An Aot establishing the energy authority revolving fund;______ moMilrw the rural electrification revolving toM-fund and tttt hilK fuel nvolytna loan fund: relating to croggramanft tor.CfirtnltHrttffl: mlaalon Unea: repealing 1 omvialon relating toJnaurance ryiulramtnia in oorwt ruction ccntracta of tha Alaska Energy Authority. authorizing power tranamlaaion Intarttas between Anchoraoe and the Kanal Peninsula. between Haalvand Fairbanks. between 3wm lake and Tvee Laka hydroelectric prelects. and between Sutton and Glenn- alien and approving the dealan and construction nota flf the Intiltlaa; and prevtdlnq for an effective data. Sponsor Senators aherp. Tavta,.MlUc£---------------------- Requestor: Senate Finance Committee __________ Dept. Affected: Commerce A Economic Development BRU: Alaska Energy Authority---------------- Component: PCE Administration COMPONENT SERIAL NO. .323 OPERATING FY12 FY13 FY FY FY FY PERSONNEL SERVICES TRAVEL CONTRACTUAL SUPPLIES EQUIPMENT LAND S STRUCTURES GRANT8, CLAIMS MISCELLANEOUS TOTAL OPERATING 0.0 0.0 I CAPITAL REVENUE FUND SOURCES: 1002 Federal Receipts 1003 GF Match 1004 GF 1005 GF/Progrwn Rscslpta 100SGF/VHTA Other (AEA RevoNino Fund) -401.9 -420.0 401.9 4200 TOTAL 0.0 0.0 POSITIONS: FULL-TIME PART-TIME TEMPORARY Eetlmate of current year (FY93) lmpect: $_ ANALYSIS:(Attach a separata page If necessary) Prepared by: Rpq Qarrinl. Executive Director Division: A m la Energy Authority Approved by Commleeloner_________ Agenoy: Department pf Commerce S Economic Development V Phone: (0071581.7877 Date:________________ Data:. STATE OF ALASKA 1993 LEGISLATIVE SESSION FISCAL NOTE BILL NO. CSSB 106 Revision D ate:________________________________________________________________ Title: An Act establishing Ihe energy authority revolving lund; repealing the rural electrification revolving loan fund — Sponsor: Senators Sharp. Taylor. Miller_____________________________ Requestor: Senate Finance Committee _______________________________ Department Affected: Commerce and Economic Development BRU: Alaska Energy Authority____________________________________________ Component: AEA Agency Operations__________________________________ COM PONENT SERIAL NO. 1232 EXPENDITURES/REVENUES: OPERATING FV 94 FY 95 FY 96 FY 97 FY 98 FY 99 PERSONAL SERVICES 160.0 187.5 292.0 303.7 315.9 328.6 TRAVEL 50.0 60.0 90.0 100.0 110.0 120.0 CONTRACTUAL 100.0 104.0 108.2 112.6 117.1 225.0 SUPPLIES EQUIPMENT LAND & STR UCTURES GRANTS, CLAIMS M ISCELLANEOUS 117.0 121.9 189.9 197.5 205.3 213.6 TOTAL OPERATING 447.0 473.4 680.1 713.8 748.3 887.2 CAPITAL REVENUE FUND SOUR CE: FUNDING: 1002 Federal Receipts 1003 G F Match 1004 G F 1005 GF/Program Receipts 350.0 1006 GF/MHTIA OTHER 447.0 473.4 680.1 713.8 748.3 5T37.2. TOTAL 447.0 473.4 680.1 713.8 748.3 J8 1 .7 - POSITIONS: FULL-TIME 2.0 2.0 3.0 3.0 3.0 3.0 PART-TIME TEMPORARY 1 Estimate of current year (FY 93) impact: _0 ANALYSIS: (Attach a separate page if necessary.) "Capital cost is reflected in companion bill SB 126. Prepared by: Ron Garzini, Executive Director________________________________________________ Phone: (907) 561-7677 Division: Alaska Energy Authority_____________________________- i D ate:___________________________ ■ ' / i y i i i ' _ _ Approved by Commissioner: Paul Fuhs '• )____K'\j\ y -v s A ______________ ____________ Agency: Commerce and Economic Development __________________\______________________ Date: V — / S ’— ^ 3 Rev 11/92 dgl/200ln.aeR PREPARER TO PROVIDE ALL DISTRIBUTION COPIES TO GOVERNOR'S LEGISLATIVE OFFICE For further distribution information call the Governor’s Legislative Office Page 1 of 4 STATE OF ALASKA 1993 LEGISLATIVE SESSION FISCAL NOTE BILL NO. CSSB 106 Revision D ate:________________________________________________________________ Title: An Act establishing the energy authority revolving fund: repealing the rural electrification revolving loan fund ______ Sponsor: Senators Sharp, Taylor, Miller_____________________________ Requestor: Senate Finance Committee______________________________ Department Affected: Commerce and Economic Development BRU: Alaska Energy Authority____________________________________________ Component: AEA Agency Operations__________________________________ COM PONENT SERIAL NO. 1232 EXPENDITURES/REVENUES: OPERATING FY 0 0 FY 01 FY 0 7 -'FY 0 3 FY o FY o s ' PERSONAL SERVICES 236.9 0.0 0.0 0.0 0.0 0.0 TRAVEL 45.0 0.0 0.0 0.0 0.0 0.0 CONTRACTUAL 531.4 552.7 574.8 597.8 78 i.8 973.2 SUPPLIES EQUIPMENT LAND & STRUCTURES GRANTS, CLAIMS MISCELLANEOUS 154.0 197.6 205.5 213.7 223.3 231.2 TOTAL OPERATING 967.3 750.3 780.3 811.5 1,004.1 1,204.4 CAPITAL REVENUE FUND SOUR CE: FUNDING: 1002 Federal Receipts 1003 G F Match 1004 G F 1005 GF/Program Receipts 967.3 750.3 780.3 811.5 1,004.1 1,204.4 1006 GF/MHT1A OTHER TOTAL 967.3 750.3 780.3 811.5 1,004.1 1.2C1.4 POSITIONS: FULL-TIME 2.0 0.0 0.0 0.0 0.0 0.0 PART-TIME 0 0 0.0 0.0 0.0 0.0 TEMPORARY Estimate of current year (FY 93) impact: _0 ANALYSIS: (Attach a separate page i( necessary.) "Capital cost is reflected in companion bill SB 126. Prepared by: Ron Garzini, Executive Director_______________________________________________Phone: (907) 561-7877 Division: Alaska Energy Authority________________________________________________________________ D ate:__________________________ Approved by Commissioner: Paul Fuhs _________________________________________________________________________________________________ Agency: Commerce and Economic Development___________________________________________ D ate:__________________________ Rev 11/92 ttgV20lln.a«a PREPARER TO PROVIDE ALL DISTRIBUTION COPIES TO GOVERNOR'S LEGISLATIVE OFFICE For further distribution information call the Governor's Legislative Office Page 2 of _4 S T A T E O F A L A S K A 1993 L E G IS L A T IV E S E S S IO N F IS C A L N O T E B I L L N O . C S S B 106 Revision D ate:________________________________________________________________ Title: An Act establishing the energy authority revolving fund: repealing the rural electrification re: living loan fund ______ Sponsor: Senators Sharp, Taylor, Miller______________________________ Requestor: Senate Finance Committee_______________________________ Department Affected: Commerce and Economic Development BRU: Alaska Energy Authority____________________________________________ Component: AEA Agency Operations __________________________________ COM PON ENT SERIAL NO. 1232 EXPENDITURES/REVENUES: OPERATING FY 0 0 FY 0-7 FY o S FY O cf FY lo FY l| PERSONAL SERVICES 0 0 0 0 0 0 TRAVEL 0 0 0 0 0 0 CONTRACTUAL 1,012.1 1,052.6 1,094.7 1,138.5 1,184.0 1,231.4 SUPPLIES EQUIPMENT LAND & STRUCTURES GRANTS, CLAIMS M ISCELLANEOUS 240.4 250.0 260.0 270.4 281.2 292.5 TOTAL OPERATING 1,252.5 1,302.6 1,354.7 1,408.9 1,465.3 1,523.9 CAPITAL REVENUE FUND SOUR CE: FUNDING: 1002 Federal Receipts 1003 G F Match 1004 GF 1005 GF/Program Receipts 1,252.5 1,302.6 1,354.7 1,408.9 1,486.3 1,523.9 1006 GF/MHT1A OTHER TOTAL 1,252.5 1,302.6 1,354.7 1,408.9 1,486.3 1,523.9 POSITIONS: FULL-TIME 2.0 0 0 0 0 0 PART-TIME 0 0 0 0 0 0 TEMPORARY Estimate of current year (FY 93) impact: _0 ___________ ANALYSIS: (Attach a separate page if necessary.) "Capital cost is reflected in companion bill SB 126. Prepared by: Ron Garzini, Executive Director________________________________________________ Phone: (907) 561-7877 Division: Alaska Energy Authority________________________________________________________________ D ate:__________________________ Approved by Commissioner: Paul Fuhs ___________________________________________________________________________________________________ Agency: Commerce and Economic Development ___________________________________________ D ate:__________________________ Rev 11/92 dgKNKh.aea PREPARER TO PROVIDE ALL DISTRIBUTION COPIES TO GOVERNOR'S LEGISLATIVE OFFICE For further distribution information call the Governor’s Legislative Office Page 3 of _4 FISCAL NOTE Revision D ate:________________________________________________________________ Title: An Act establishing the energy authority revolving fund; repealing the rural electrification revolving loan fund ______ Sponsor: Senators Sharp, Taylor, Miller______________________________ Requestor: Senate Finance Committee___________________________________________ COM PON ENT SERIAL NO. 1232 STATE OF ALASKA BILL NO. CSSB 106 1993 LEGISLATIVE SESSION EXPENDITURES/REVENUES: OPERATING FY 12.FY (3 FY FY FY FY PERSONAL SERVICES 0 0 TRAVEL 0 0 CONTRACTUAL 1,280.7 1,331.8 SUPPLIES EQUIPMENT LAND & STRUCTURES GRANTS, CLAIMS MISCELLANEOUS 304.2 316.4 TOTAL OPERATING 1,584.8 1,648.2 CAPITAL REVENUE FUND SOUR CE: FUNDING: 1002 Federal Receipts 1003 G F Match 1004 G F 1005 GF/Program Receipts 1,584.8 1,648.2 1006 GF/MHTIA OTHER TOTAL 1,584.8 1,648.2 POSITIONS: FULL-TIME 0 0 PART-TIME 0 0 TEMPORARY Estimate of current year (FY 93) impact: _0 ___________ ANALYSIS: (Attach a separate page if necessary.) "Capital cost is reflected in companion bill SB 126. Prepared by: Ron Garzini, Executive Director Division: Alaska Energy Authority_________________ Approved by Commissioner: Paul Fuhs Agency: Commerce and Economic Development___________________________________________________Date: Phone: (907) 561-7877 Date: _______ ___________ Department Affected: Commerce and Economic Development BRU: Alaska Energy Authority____________________________________________ Component: AEA Agency Operations__________________________________ Rev 11/92 dgi303hifi PREPARER TO PROVIDE ALL DISTRIBUTION COPIES TO GOVERNOR’S LEGISLATIVE OFFICE For fu.ther distribution information call the Governor's Legislative Office Page 4 of 4 1 2 3 4 6 7 8 9 10 11 12 13 14 V - / V - $3 WORK D R A F T W O R K DRAFT WORK DRAFT 8-LS0594XRCramer JfTOcnx- ■ ViStV/i cJ 3/2/93/ ^ - c /Qi>C//>dc<l CS FOR SENATE BILL NO. 106( ) IN THE LEGISLATURE OF THE STATE OF ALASKA EIGHTEENTH LEGISLATURE - FIRST SESSION BY Offered: Referred: Sponsor(s): SENATORS SHARP, Taylor, Miller A BILL FOR AN ACT ENTITLED "An Act authorizing power transmission interties between Anchorage and the Kenai Peninsula, between Healy and Fairbanks, and between the Swan Lake and Tyee Lake hydroelectric projects, and approving the design and construction costs of the interties; and providing for an effective date." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: * Section 1. AS 36.30.850(b) is amended by adding a new paragraph to read: (30) contracts between the Alaska Energy Authority and one or more public utilities for the construction of an electric transmission line but only if the utility or utilities have agreed, in writing, to pay the (A) design and construcuon costs of the lines, after the deduction of money appropriated for chat purpose by the state, and to provide for the repayment of any loans or bonded indebtedness related to the project, regardless of final completion costs and unforeseen expenses; and (B) operation and maintenance costs of the project. -1-CSSB 106( ) New Tnxc Underlined [DELETED 1ZXT BRACKETED] * Sec. 2. In accordance with AS 44.83.185(c) and contingent upon sec. 5 of this Act, the Alaska Energy Authority is authorized to design and construct a 138 kilo-.'olt power transmission intertie between Anchorage and the Kenai Peninsula at a cost of $103,000,000. * Sec. 3. In accordance with AS 44.83.185(c) and contingent upon sec. 5 of this Act, the Alaska Energy Authority is authorized to design and construct a 138 kilovolt power transmission intertie between Healy and Fairbanks at a cost of $95,500,000. * Sec. 4. (a) In accordance with AS 44.83.185(c) and contingent upon (c) and (d) of this section, the Alaska Energy Authority is authorized to design and construct a 138 kilovolt power transmission intertie between the Swan Lake and the Tyee Lake hydroelectric projects at a cost of $55,600,000. (b) It is the intent of the legislature that the Alaska Energy Authority finance one-half of the design and construction cost of the intertie authorized by (a) of this section through the revenue from the sale of power from hydroelectric projects included in the Four Dam Pool. (c) The authorization made by (a) of this section is contingent upon a written agreement between the electric utilities participating in the project authorized by this section and the Alaska Energy Authority providing that the participating utilities agree to pay (1) design and construction costs for the power transmission intertie authorized by (a) of this section that exceed $27,800,000; and (2) the operation and maintenance costs of the power transmission intertie authorized by (a) of this section. (d) The authorization made by (a) of this section is contingent upon the office of management and budget recommending approval of the feasibility study and the plan of finance for the project under AS 44.83.183. The office shall notify the revisor of statutes of its recommendations on the project. * Sec. 5. The authorizations made by secs. 2 and 3 of this Act are contingent upon written agreements between the Alaska Energy Authority and the electric utilities participating in the projects authorized by those sections providing that the participating utilities agree to pay (1) design and construction costs for the power transmission interties authorized by secs. 2 and 3 of this Act that exceed $99,250,000 and the interest earned on that sum; and (2) the operation and maintenance costs of the power transmission internes WORK DRAFT WORK DRAFT WORK DRAFT CSSB 106( ) -2- iVew Text Underlined [DELETED TEXT BRACKETED] authorized by secs. 2 and 3 of this Act. * Sec. 6. This Act takes effect immediately under AS 01.10.070(c). WORK DRAFT WORK DRAFT -3- New Text Underlined IDELETED TEXT BRACKETED] WORK DRAFT CSSB 106( ) A l a s k a S t a t e ^legislature SENATOR BERT SHARPDISTRICT P CHAIRMANtransportation COMMITTEE MEMBER FINANCE COMMITTEE LEGISLATIVE BUDGET 4 AUDIT COMMITTEE HEALTH 4 SOCIAL SERVICES Senate FAIRBANKSDENALI BANK BUILDING 119 N. CUSHMAN, SUITE 201 FAIRBANKS. ALASKA 99701 (907) 452-7085/7886SESSION ADDRESSSTATE CAPITOL. ROOM 514 JUNEAU, ALASKA 99801 -1182 (907)465-3004/4921 SECTION ANALYSIS SB - 106 4/1 3/93 SECTION 1. States the reasons the legislature has in adopting this program and expresses the intent of the legislature as to how this program is to be managed. Included is the intent that the power cost equalization program be funded for 20 years at $17 million annually, and that the funds in the 4-dam pool account be used for electrical system improvements to benefit those communities. SECTION 2. Authorizes the Alaska Energy Authority to contract with utilities to design and construct electric transmission lines when those utilities assume the risks of completion and cost overruns and when the utilities agree to pay all costs of operation and maintenance. SECTION 3. Amends the definition of program receipts to include earnings of the energy authority revolving fund created in Section 7. SECTION 4. Provides that the Department of Revenue shall invest the balance of the energy authority revolving fund. SECTION 5-6. Are conforming amendments which change references from "power project fund" to "power project loan account." SECTION 7. Creates the energy authority revolving fund which would be the consolidated fund for all income and assets of the energy authority except for the electrical service extension fund and the oower cost equalization fund. All other funds or accounts which exist or may later be created in the Energy Authority would be REPRESENTING GOLDEN HEART OP ALASKA accounts within this fund. Income on assets of the authority would be received by this fund. The authority may make interest bearing loans from this fund to qualified borrowers in amounts not to exceed $10 million, but all other uses of this fund would require legislative appropriations. SECTION 8 . Transfers the "power project fund" to the status of "power project loan account" within the new revolving fund. SECTION 9. Transfers the loan programs of the energy authority to this new loan account and consolidates authority for fuel loans in this new account. SECTION 10-11. Are conforming amendments which change references from "power project fund" to "power project loan account." SECTION 12. Changes a reference from "power project fund" to "power project loan account." In addition, it provides that the legislature may specifically authorize no-interest loans for transmission interties. SECTION 13. Provides that interest earned by .cans from the new power project loan account will be deposited in the energy authority revolving fund. SECTION 14-17. Are conforming amendments which change references from "power project fund" to "power project loan account." SECTION 18. Is a conforming amendment which change a reference from "power development fund" to "power development account." SECTION 19. Changes the power development fund to an account within the energy authority revolving fund called the "power development account" SECTION 20. Is a conforming amendment changing references from "fund" to "account." SECTION21. Changes references from "fund" to "account," and it also repeals the requirement that income to this investment account must be deposited in the general fund. SECTION 22. Is a conforming amendment which changes a reference form, "fund" to "account." SECTION 23. Provides a definition of "account" in this section to mean the power development account. SECTION 24. Changes the name of the "power development revolving loan fund" to "power development revolving loan account." SECTION 25. Creates the 4-dam pool account within the energy authority revolving fund. This account consists of 50% of the receipts from the 4-dam pool debt service. SECTION 26-28. Are conforming amendments which change references from "fund" to "account." SECTION 29. Defines "account" in that section as the power development loan account. SECTION 30. Repeals the bulk fuel revolving loan fund which is consolidated with the power project loan account; it repeals the rural electrification revolving loan fund which has not been used since enactment of the electrical service extension fund; and it repeals a requirement that income earned from energy authority projects be deposited in the general fund. SECTION 31. Authorizes design and construction of the proposed transmission intertie between Anchorage and the Kenai Peninsula. SECTION 32. Authorizes design and construction of the proposed transmission intertie between Healy and Fairbanks. SECTION 33. Conditions the authorizations given in Sections 30 and 31 upon the utilities agreeing to pay all completion costs above $90 million and to pay all costs of operation and maintenance. SECTION 34. Authorizes the design and construction of a transmission intertie between the Swan Lake and Tyee Lake hydroelectric projects upon the condition that the utility agrees to pay completion costs above the $20 million and to pay all costs of operation and maintenance. SECTION 35. Authorizes the design and construction of a transmission intertie between Sutton and Glennallen upon the condition that utility agrees .o pay for completion costs above $35 million and to pay all costs of operation and maintenance, and upon the condition that the Office of Management and Budget approves the feasibility study submitted by the Energy Authority. SECTION 36. Provides that AE/ shall contract with utilities to design and construct transmission interties unless the utilities decline that opportunity. SECTION 37.Provides for an effective date. y-/y- 9 %S 5 #?0o4<? A/do/)'//*/ s- / 4/13/93 SB 106 workdraft 8-LS0594\C AMENDMENT #2 page 17, line 23 delete [$20,000,000]V insert $35.000.000 page 18, line 10 i/ delete [$35,000,000] insert $27.500.000 , innnoc COMMITTEE Amendment Numi Bill Number:Sponsor:____ Logged In By: y-/V-?3 ^ „ SB 106 4/13/93 workdraft 8-LS0594\C AMENDMENT #1 page 2, line 17 delete ^ sub section [(d)] page 14, line 16 delete [section 25] ^ page 17, line 13 delete J [through a loan to the participating utilities for a term of 50 years at three percent annual interest]. page 18, line 1 thru line 2 delete [through a loan to the participating utility or utilities for a v term of 50 years at three percent annual interest]. Renumber sections and section references accordingly. SENATE FINANCECOMMITTEE QBill Number:___jS _~ r rSponsor_________ Logged In By: tin - Amendment Number: ?3IB S s*O0ve<//$</'O' 8-LS0594NCCramer 4/13/93 WORK DRAFT WORK DRAFT WORK DRAFT CS FOR SENATE BILL NO. 106( ) IN THE LEGISLATURE OF THE STATE OF ALASKA EIGHTEENTH LEGISLATURE - FIRST SESSION BY Offered:Referred: Sponsor(s): SENATORS SHARP, Taylor, Miller A BILL FOR AN ACT ENTITLED "An Act establishing the energy authority revolving fund; repealing the rural electrification revolving loan fund and the bulk fuel revolving loan fund; relating to procurements for certain transmission lines; authorizing power transmission interties between Anchorage and the Kenai Peninsula, between Healy and Fairbanks, between the Swan Lake and Tyee Lake hydroelectric projects, and between Sutton and Glennallen and approving the design and construction costs of the interties; and providing for an effective date." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: * Section 1. FINDINGS AND INTENT, (a) The legislature finds that adequate, reliable, electric service at affordable rates is a necessary ingredient of a modem society and a prosperous developing economy. The legislature further Finds that at the current stage of social and economic development in the state, direct participation by the state is necessary to assist in the development of a regional electric transmission infrastructure and to assist in -1- CSSB 106( ) S i w T e x t U n d e r l i n e d ( D E L E T E D T E X T 3 R A C X E T E D ] holding ;ates in high cost service areas to affordable levels. (b) The legislature intends that the energy authority revolving fund, created by sec. 7 of this Act, be managed so that (1) the money granted for design and construction of the power transmission interties authorized by secs. 31, 32, 34, and 35 of this Act is disbursed as work progress payments; (2) money is provided to allow the funding source for the power cost equalization program (AS 44.83.162 - 44.83.164) to be changed from the general fund to the energy authority revolving fund; funding for power cost equalization from the general fund and the energy authority revolving fund combined is intended to be $17,000,000 annually through Fiscal year 2013. (c) The legislature further intends that this long-term commitment to the power cost equalization program will permit and encourage the electric utility industry and its lenders to develop the plans, make the investments, and take other actions that are necessary or prudent to prepare to meet the utility needs of residents in rural Alaska without this assistance from the state. (d) It is the intent of the legislature that money deposited in the four dam pool account, enacted by sec. 25 of this Act, may be appropriated by the legislature to Finance the planning, rehabilitation, construction, and improvements to the four dam pool hydroelectric projects and for other public purposes. Improvements to the projects may include the addition of new hydroelectric generating capacity, the construction of interties to make the projects more efFicient, and other improvements to the system. The legislature should be guided in establishing a priority for expenditures for the four dam pool projects by a majority vote of the public utilities that are members of the project management committee under the power sales agreement for the four dam pool hydroelectric power projects. * Sec. 2. AS 36.30.850(b) is amended by adding a new paragraph to read: (30) contracts between the Alaska Energy Authority and one or more public utilities for the design and construction of an electric transmission line but only if the utility or utilities have agreed, in writing, to pay the (A) design and construction costs of the lines, after the deduction of money appropriated for that purpose by the state, and to provide WORK DRAFT WORK DRAFT WORK DRAFT CSSB 1061 ) -2- ,Ve:v 7"xr Underlined !DELETED TEXT BRACKETED] 1 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 'l1 for the repayment of any loans or bonded indebtedness related to the project, regardless of final completion costs and unforeseen expenses; and (B) operation and maintenance costs of the project. * Sec. 3. AS 37.05.146 is amended to read: Sec. 37.05.146. DEFINITION OF PROGRAM RECEIPTS. In AS 37.05.142 - 37.05.146 and AS 37.07.080, "program receipts" means fees, charges, income earned on assets, and other state money received by a state agency in connection with the performance of its functions; all program receipts except the following are general fund program receipts: (1) federal receipts; (2) University of Alaska receipts (AS 14.40.491); (3) individual, foundation, or corporation gifts, grants, or bequests that by their terms are restricted to a specific purpose; (4) receipts of the following funds: (A) highway working capital fund (AS 44.68.210); (B) correctional industries fund (AS 33.32.020); (C) loan funds; (D) international airport revenue fund (AS 37.15.430); (E) funds managed by the Alaska Housing Finance Corporation (AS 18.56.020), the Alaska Railroad Corporation (AS 42.40.010), the. Municipal Bond Bank Authority (AS 44.85.020), the Alaska Aerospace Development Corporation (AS 14.40.821), or the Alaska Industrial Development and Export Authority (AS 44.88.020); (F) fish and game fund (AS 16.05.100); (G) school fund (AS 43.50.140); (H) training and building fund (AS 23.20.130); (I) retirement funds (AS 14.25, AS 22.25, AS 26.05.222, AS 39.35, and former AS 39.37); (J) permanent fund (art. IX, sec. 15, Alaska Constitution); (K) public s hool fund (AS 37.14.110); (L) second injury fund (AS 23.30.040); WORK DRAFT WORK DRA~? WORK DRAFT -3- CSSB 106( ) Taxc Underlined [DELETED TEXT BRACKETED! 1 2 1 4 5 6 m/ 8 9 10 11 12 13 14 15 16 17 18 19 20 21 n 23 24 25 26 27 28 29 30 31 (M) fishermen’s fund (AS 23.35.060); (N) FICA administration fund (AS 39.30.050); (O) receipts of the employee benefits program established u.. AS 39.30.150 - 39.30.180; (P) receipts G f the deferred compensation program established under AS 39.45^ (.] (O) the energy authority revolving fund (AS 44.83.107); [.] (5) receipts of or from the trust established by AS 37.14.400 - 37.14.450, except reimbursements described in AS 37.14.410. * Sec. 4. AS 44.25.020 is amended to read; Sec. 44.25.020. DUTIES OF DEPARTMENT. The Department of Revenue shall (1) enforce the tax laws of the state; (2) collect, account for, have, custody of, invest, and manage all state funds and all revenues of the state except revenues incidental to a program of licensing and reguladon carried on by another state department and funds managed and invested by the Alaska State Pension Investment Board; (3) register cattle brands; (4) supply necessary clerical and administrative services for the Alcoholic Beverage Control Board; (5) invest [AND MANAGE] the balance of the power development account in the energy authority revolving fund in accordance with AS 44.83.386; (6) in accordance with the policies established by the board of trustees of the Alaska State Pension Investment Braid, collect, account for, have custody of, invest, and manage the state funds for which the board is responsible. * Sec. 5. AS 44.83.080(16) is amended to read: (16) to recommend to the legislature (A) the issuance of general obligation bonds of the state to finance the construction of a power project if the authority first determines that the project cannot be financed by revenue bonds of the authority at reasonable rates of interest; WORK DRAFT WORK DRAFT WORK DRAFT CSSB I06( ) -4- Afev ?!7 XK Underlined iDELETED TEXT BRACKETED] (B) the pledge of the credit of the state to guarantee repayment of all or any portion of revenue bonds issued to assist in construction of power projects: (C) an appropriation from the general fund (i) lor debt service on bonds or other project putposes; or (ii) to reduce the amount of ucst financing for the project; (D) an appropriation to the power project : u account [POWER PROJECI' FUND] for a power project; (E) [REPEALED (F)] development of a project under financing arrangements with other entities .using leveraged leases or other financing methods; (F; f(G)] an appropriation.for a power project acquired or constructed under AS 44.83.380 - 44.S3.425 (energy program for Alaska) * Sec. 6. AS 44.83.105 is amended to read: Sec. 44.83.105. BONDS FOR POWER PROJECTS UNDER THE ENERGY PROGRAM FOR ALASKA. The authority may borrow money and issue its bonds for the acquisition or construction of power projects to be acquired or constructed under the energy program for Alaska. The principal cf and interest on the bonds are payable from money derived from the sale of wholesale power from power projects financed under AS 44.83.380 * 44.83.425 from the power development account [FUND] or from a source referred to in AS 44.83.100 as the authority determines. The bonds may be issued if (1) appropriations to the power development account [FUND] for the power project are insufficient to cover the cost of acquiring or constructing the power project; and (2) the authority determines that the amount of interest the authority will pay on its bonds is not more than alternative costs of securing money from other sources, except for the general fund, to pay for the acquisition or construction of the power project. WORK DRAFT WORK DRAFT WORK DRAFT -5- CSSB 106( ) ■Vfry Tzxr. Underlined (DELETED TEXT BRACKETED 1 IA, 2 3 4 cw> 6 ■*F/ 8 9 10 11 12 13 1“ 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 * Sec. 7. AS 44.33 is amended by adding a new section to read: Sec. 44.83.107. ENERGY AUTHORITY REVOLVING FUND, (a) The energy authority revolving fund is established in the authority. The revolving fund consists of (1) appropriations made to it by the legislature; (2) money or ether assets transferred to it by the authority; (3) unrestricted payments on leans made or purchased by the authority; (4) income and interest on amounts in the fund; and (5) all revenue of the authority not otherwise required to pay the expenses of authority projects. (b) The board of directors of the authority may establish operations, renewal and replacement, capitalization, and self-insurance reserve accounts within the revolving fund. (c) Unless'otherwise expressly stared, the accounts created, in this chapter, including the power project loan account under AS 44.83.170, the power development account under AS 44.83.382, and the power development revolving loan account under AS 44.83.500, are accounts of die energy authority revolving fund. The electrical service extension fund under AS 44.S3.370 and the power cost equalization fund under AS 44.83.162 are not accounts of the energy authority revolving fund. The authority may create additional funds or accounts either within the revolving fund or outside the fund. Subject to agreements made with the holders of the authority’s bonds or with other persons and subject to any restrictions placed upon legislative appropriations, the authority may transfer amounts in a fund or account in the revolving fund to another fund or account within the revolving fund. (d) The forec.osure expense account is established as a special account in the energy authority revolving fund, as a reserve from fund equity. The authority may spend money credited to the foreclosure expense account when necessary to protect the state’s security interest in collateral on loans made under this chapter or to defray expenses incurred during foreclosure proceedings after a de/aulf by an obligor. (e) The authority may (1) pledge amounts in the revolving fund to secure bonds of the WORK DRAFT WORK DRAFT WORK DRAFT { CSSB 106( )-6- N e w 7V?xc U n d e r l i n e d / D E L E T E D T E X T B R A C K E T E D ) o 7 S o 10 -» -i 12 J.? 3 !! j. / j o 19 20 21 T 7MM 23 24 26 28 29 30 31 authority; or (2) enter into agreements with respect to the revolving fund that it considers necessary to secure its bonds. (?) The authority may loan amounts from Lite revolving fund for any purpose authorized by th is ch a p te r. A loan fro n t the fund in an amount greater than 510,000,000 must be specifically authorized by the legislature. The authority may invest in projects or program;: that art expressly authorized by the legislature under AS 44.83.185 and in projects or programs for which the ’legislature has made a specific appropriation to the fund. (g) The legislature may appropriate amounts in the revolving fund to the authority for the cost of the power cost equalization program, for administering the fund, and for other .programs and projects of the ppthority or to other public purposes. Money in the fund dees no: lapse. A Sec. 8. AS 44.S3.170(a) is amended to read: 15 f (a) The [THERE 15 ESTABLISHED AJ A SEPARATE FUND THE] power I,?.6 j| project loan account is established U the encrg v^ u r n o r iiv r evo lv in g fund. Tire gccourit cor.sists„-">f ( P c n o r o p ria tio n s to th ? vvcou y d: /2) unrestricted payments on loer.s mudr from or purchased bv (he_ v~ - - j. jaccount: (3) income and interest on amounts irt the account: and (4) other money.and other assets transferred to or deposited in the account as directed bv resolution of the board of directors of the aat.hority [FUND THAT SHALL BE DISTINCT FROM ANY OTHER MONEY OR FUNDS OF THE AUTHORIT Y, AND THAT INCLUDES ONLY MONEY APPROPRIATED BY THE LEGISLATURE]. * Sec. 9. AS 44.83.170(b) is amended to read: (b) The authority may make loans from the power project loan account [FUND] (1) to electric utilities, regional electric authorities, municipalities, [CITIES, BOROUGHS.] regional and village corporations, village councils, and WORK DRAFT WORK DRAFT WORK DRAFT -7- CSSB 106( ) ■Vgy T p.xl 'Jndtr: 1 r.ed [DELETED TEXT BRACKETED] nonprofit marketing cooperatives to pay the costs of (A) reconnaissance studies, feasibility studies, license and permit applications, preconstruction engineering, and design of power projects; (B) constructing, equipping, modifying, improving, and expanding small-scale power production facilities, conservation fact tides, bulk fuel storage facilities, and transmission and distribution facilities, including energy production, transmission and distribution, and waste energy consecution facilities that depend on fossil fuel, wind power, tidal, geothermal, biomass, hydroelectric, solar or ocher non-nuclear energy sources; [AND] (C) reconnaissance studies, preconstruction engineering, design, construction, equipping, modification, and expansion of potable vvatei supply including surface storage and-groundwater sources and transmission of water '■irom’Stjrface"£:ordj.,c'tc existing distribution systems; and !-J?) a*"!;P1!*:• *!*?£?. ‘R.t'SiV.fufj 5»i(d bulk foeiT^erves: (2) to p. botr-swet foi‘ u.powpr proj^cv if (A) the loan is cutf-red into under. a- leveraged lease financing arr::;.ii;cnient: (3.) -the party that will tu-rcgion.-tibie for the power project is an electric utility, regional electric authority, municipality, [CITY, BOROUGH,] regional or village corporation, village council, or r.onprofit- inarketihg cooperative; and (C) the borrower seeking the loan demonstrates to tiic authority that the financing arrangement for the power project will reduce project . ~ financing costs below costs of comparable public power projects. * See. 10. AS 44.83.170(c) is amended to read; (c) Before making a Joan from the pewgr project loan account [Fl/ND], the authority shall, by regulation, specify (1) standards for the eligibility of borrowers and the types of projects to be financed with loans; (2) standards regarding the technical and economic viability and revenue seif-sufficiency of eligible projects; WORK DRAFT WORK DRAFT WORK DRAFT CSSB 106( ) -8- tlew Text Under! ir.~i (DELETED TEXT BRACKETED] 1 2 3 4 5 6 7 S 9 .‘0 U 12 * U 7.3 «.'/ •*i IS 19 20 21 ->2 23 24 25 26 27 28 29 30 31 (3) collateral or other security required for loans, (4) the terms and conditions of loans; (5) criteria to establish financial feasibility and to measure the amount of state assistance necessary for particular projects to meet the financial feasibility criteria; and (6) o th e r re le v a n t criteria, stan d ard s. Gr p ro c e d u re s. * Sec. 11. AS 44.33.170(e) is amended to read; (c) Repayment of the loans shall be secured in any manner that the authority determines is feasible to assure prompt repayment under a loan agreement entered into with the borrower. The authority may make an unsecured loan from the power project loan account [FUND] to a borrower regulated by the Alaska Public Utilities Commission under AS 42.05 if the borrower has -a substantial histoiy of repaying long-term loans and the capacity to repay {iie loan. Under a loan agreement, repayment r.-:y be d e fe rre d for 10 years or until the project for which the loan is made hat; achieved eevmugs ft on? irs operations sufficient ;o pay the loan, whichever is -earlier. * Sec. 12. AS 44S3.170(f) is amended to read: (f) lo w e r projects are subject to the following limitations on interest and specific restrictions: (1) power projects for which loans are outstanding from the former water resources revolving loan fund under former AS 45.S6 on July 13, 197S, may receive additional financing from the power project loan account [FUND]; the additional financing, if granted, must be (A) g ra n te d fo r a term not e x c e e d in g 50 years; (B) granted at an interest rate of not less than three or more than five percent a year cn the unpaid balance; (C) conditioned on the repayment of loan principal and interest to begin on the earlier of (i) the date of the start of commercial operation of the project; or (ii) 10 years from the date the loan is granted; WORK DRAFT WORK DRAFT WORK DRAFT -9- CSSB 106( ) New Texc Underlined [DELETED TEXT BRACKETED / 1 3 4 5 6 7 8 9 10 11 12 13 AI T 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 WORK DRAFT WORK DRAFT WORK DRAFT (2) loans for power projects [SHALL BE GRANTED] (A) mav be granted for a term not to exceed 50 years: [AND] (B) except as provided in (C) of this paragraph, shall have [AT] an interest rate that is not less than five percent and that is the lesser of (i) a rate equal to the percentage that is the average weekly yield of municipal bonds for the 12 months preceding the date of the loan, as determined by the authority from municipal bond yield rates reported in the 30-year revenue index of the Weekly Bond Buyer, or (ii) a rate determined by the authority that allows the project to meet criteria of financial feasibility established under (c) of this section: and (C) mav have an interest rate that is as low as zero percent if the legislature specifically authorizes the no-interest loan or if the loan is for a transmission intertie project that connects two or more utility svstenis not previously connected or that provides a second circuit to improve the reliability and transfer capability of an existing system. * Sec. 13. A3 44.83.170(g) is amended to read: (g) Loan repayments and interest earned by loans from tnepowcr project loan account [FUND] shall be deposited in the energy authority revolving [STATE GENERAL] fund. * Sec. 14. AS 44.83.170(h) is amended to read: (h) The legislature may forgive the repayment of a loan made from the power project loan account [FUND] for a reconnaissance study or a feasibility study when the authority finds that the power project for which the loan was made is not feasible. * Sec. 15. AS 44.83.170(i) is amended to read: (i) Money in the power project loan account [FUND] may be used by the legislature to make appropriations for costs of administering the fund. * Sec. 16. AS 44.83.181(c) is amended to read: (c) The plan of finance must include recommendations of the most appropriate means to finance a project, including, but not limited to, CSSB 106( ) -10- New Texr. Underlined [DELETED TEXT BRACKETED} WUFi 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 .16 17 IS 19 20 21 22 23 24 25 26 27 28 29 (1) the issuance of revenue bonds of the authority; (2) the issuance of (A) general obligation bonds of the state; or (B) revenue bonds of the authority that are guaranteed or partially guaranteed by the state; (3) an appropriation from the general fund (A) to pay debt service on bonds or for other project purposes; or (B) to reduce the amount of debt financing for the project; (4) a loan from the general fund; (5) financing arrangements with other entities using leveraged leases or other financing methods; (6) assistance from any federal agency, including, but not limited to, the Rural Electrification Administration; (7) a loan from the power project loan account [FUND] under AS 44.83.170(a); or (8) any combination of financing arrangements listed in this subsection. * Sec. 17. AS 44.83.187(a) is amended to read: (a) The provisions of AS 44.83.177 - 44.83.185 and 44.83.189 apply only to a proposed new project that will generate more than 1.5 megawatts of power and (1) requires an appropriation from the state general fund or [,] from the power project loan account [FUND, OR FROM THE RENEWABLE RESOURCES FUNDS]; or (2) is based on a plan of finance that requires the issuance of general obligation bonds or other pledge of the credit of the state. * Sec. 18. AS 44.83.380(b) is amended to read: (b) The energy program for Alaska is a program by which the authority may acquire or construct power projects with money appropriated by the legislature to the power development account [FUND] established in AS 44.83.382. A power project may be acquired or constructed as pan of the energy program for Alaska only if the project is submitted to and approved by the legislature in accordance with procedures WORK DRAFT WORK DRAFT WORK DRAFT -11- iVev Tex: Under! irtid IDELETED TEXT BRACKETED 1 CSSB 106( ) 1 1 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 jm mm 23 24 25 26 27 28 29 30 31 set out in AS '14.83.177 - 44.83.187. * Sec. 19. AS 44.83.382 is amended to read: Sec. 44.83.382. POWER DEVELOPMENT ACCOUNT [FUND] ESTABLISHED, (a) The [A] power development account [FUND] is established in the Alaska Energy Authority to carry out the purposes of AS 44.83.380 - 44.83.425. (b) The account [FUND] includes money appropriated to it by the legislature. * Sec. 20. AS 44.83.384 is amended to read: Sec. 44.83.384. USE OF ACCOUNT [FUNDI BALANCE, (a) The account [FUNDJ may be used by the authority to provide money for (1) reconnaissance and feasibility sic dies and power project Fin -nee plans prepared under AS 44.83.177 - 44.83.181; (2) the cost of a power project, including but not limited to costs of acquiring necessary licenses, preparing engineering designs, obtaining land, and constructing the power project; (3) the defeasance of bonds, or the payment of debt sendee on loans for or on an issue of bonds sold in connection with a power project; (4) the cost of operating and maintaining power projects; and (5) debt service on power projects. (b) Money in the account [FUND] may be used under (a) of this section only for a power project that (1) is economically feasible; and (2) provides the lowest reasonable power cost to utility customers in the market area for the estimated life of the power project, whether operated by itself or in conjunction with other power projects in the market area, and that operates or will operate on one or more of the following: (A) renewable energy resources, including but not limited to hydroelectric power, wind, biomass, geothermal, ddal or solar energy, or a method that uses temperature differentials or other physical properties of the ocean; (B) coal or peat; (C) energy derived from waste heat; or WORK DRAFT WORK DRAFT WORK DRAFT CSSB 106< ) -12* iV(?v Tfrxr Undf; t i: ,? (DELETED TEXT BRACXETED1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 (D) fossil fuel, including oil or natural gas. (c) Notwithstanding (b)(1) of this section and AS 44.83.396 - 44.83.398, the account [FUND] may be used by the authority to provide money for the cost of a power project that is or was either constructed or owned by the United States government if the requirements of this subsection are met. The provisions of AS 44.83.177 - 44.83.187 do not apply to a power project financed under this subsection. The authority may use money in the account [FUND] for the cost of a power project under this subsection if (1) the legislature enacts a law approving the project; (2) the office of management and budget in the Office of the Governor reviews a feasibility study and a plan of finance for the project and determines that the feasibility study complies with the requirements for a feasibility study submitted under AS 44.83.181(b) and that the plan of finance complies with the requirements for a plan of finance submitted under AS 44.83.181(c); and (3) the project meets the other requirements of this chapter. * Sec. 21. AS 44.83.386 is amended to read: Sec. 44.83.386. INVESTMENT OF ACCOUNT [FUND]. The Department of Revenue shall invest the money in the account [FUND] in accordance with AS 37.10.070, 37.10.071, and 37.10.075. The Department of Revenue shall provide money in the account [FUND] to the authority only after costs have been incurred or. amounts in the account [FUND] have been otherwise obligated under contracts for the acquisition and construction of a project. Amounts that have been obligated, but for which costs have not yet been incurred, may be segregated by the Department of Revenue or transferred to the authority only with the prior approval or agreement of the commissioner of revenue. [INCOME RECEIVED ON MONEY THAT IS SEGREGATED OR TRANSFERRED UNDER THIS SECTION MUST BE DEPOSITED IN THE GENERAL FUND.] * Sec. 22. AS 44.83.388(a) is amended to read: (a) The authority shall maintain records of power project allocations from the account [FUND] for each power project (1) approved in accordance with AS 44.83.185; and WORK DRAFT WORK DRAFT WORK DRAFT -13- CSSB 106( ) iVew Text: Underlined [DELETED TEXT BRACXETED I 1 2 3 4 5 6 7 8 9 10 11 12 13 14 IS 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 (2) for which an allocation is made from an appropriation made by the legislature without specifying an appropriation to a project * Sec. 23. AS 44.83.425 is amended by adding a new paragraph to read: (6) "account" means the power development account established by AS 44.83.382. * Sec. 24. AS 44.83.500 is amended to read: Sec. 44.83.500. CREATION OF ACCOUNT [FUND], (a) There is established in the Alaska Energy Authority the power development revolving loan account [FUND] to cany out the purpose of AS 44.83.500 - 44.83.530. The account [FUND] may be used for no other purpose. (b) The account [FUND] consists of (1) appropriations to the account [FUND] by the legislature; (2) repayments of principal to the account [FUND]; and (3) income from investment of money in the account [FUND] and from loans made from the account [FUND]. * Sec. 25. AS 44.83 is amended by adding a new section to read: Sec. 44.83.505. FOUR DAM POOL ACCOUNT, (a) There is created as an account in the energy authority revolving fund the four dam pool account. The account consists of money in the energy authority revolving fund that, beginning July 1, 1993, can be attributed to 50 percent of the receipts from the hydroelectric power projects that constitute the four dam pool. The legislature may appropriate the money in the four dam pool account for projects related to the four dam pool and for other purposes as provided by law. (b) The authority may acquire or construct power projects with money in the four dam pool account. In using money in the four dam pool account, the authority has the same powers and duties as it has concerning the use of money in the power development account under the energy program for Alaska. (c) In this section, "four dam pool" means the hydroelectric facilities at Tyee Lake, Swan Lake, Solomon Gulch, and Terror Lake. * Sec. 26. AS 44.83.510 is amended to read: Sec. 44.83.510. POWERS AND DUTIES OF AUTHORITY IN WORK DRAFT WORK DRAFT WORK DRAFT CSSB 106( )-14- New Text: Underlined (DELETED TEXT BRACXETED] 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 ADMINISTERING THE ACCOUNT [FUNDI, (a) The authority may borrow from the account [FUND] for the purpose of financing a power project acquired or constructed by the authority under the energy program for Alaska (AS 4* 83.380 - 44.83.425). Repayment of a loan from the account [FUND] must be made with the proceeds from the sale of power from projects in the energy program for Alaska. Except as provided in AS 44.83.398(i), the payments required to be made by the authority on a loan from the account [FUND] constitute debt service for the purpose of calculating the wholesale power rate in AS 44.83.398(b)(1). (b) After completion of a final plan of finance and approval of a project under AS 44.83.185(c), a loan may be made from the account [FUND] for (1) the cost or a portion of the cost of final design, acquisition, and construction of a power project; (2) defeasance or payment of bonds or notes of the authority issued for a power project; (3) the establishment of a reserve fund for renewals and replacements for the operation of a completed power project; and (4) any other project-related expenses, including those described in AS 44.83.398(i). * Sec. 27. AS 44.83.520(a) is amended to read: (a) A loan from the account [FUND] shall be repaid in accordance with the terms that the authority’s board of directors determines to be appropriate. In ertablisning the terms, including provision for a return to the state of an amount in excess of the principal amount of the loan, the board of directors shall consider the revenue that the authority could reasonably derive from the sale of power from the projects based upon (1) the costs, at the time the power sales agreement is initially negotiated or renegotiated, of alternative sources of energy generation for utilities purchasing power from a project financed with a loan from the account [FUND]; (2) the effect of the loan terms on the wholesale power costs to all utilities purchasing power from the initial project; (3) the long-term benefits to consumers and communities of stable WORK DRAFT WORK DRAFT WORK DRAFT -15- CSSB 106( ) New Text Underlined (DELETED TEXT BRACXETED} 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 (4) the affordability of initial wholesale power costs that result from the loan terms with utilities purchasing power from the initial project; (5) increasing repayment, not to exceed five years, of debt service payment per kilowatt hour gradually over the initial period of a loan repayment schedule to the extent necessary to avoid significant rate increases to the consumer, (6) the existing excess capacity of power projects; and (7) the effects of increased capacity utilization, inflation, and alternative energy production costs over the life of the initial project. * Sec. 28. AS 44.83.520(c) is amended to read: (c) A loan to the authority from the account [FUND] may not exceed 50 years. * Sec. 29. AS 44.83.530 is amended b;, dding a new paragraph to read: (3) "account" means the power development loan account. * Sec. 30. AS 44.83.361, 44.83.363, 44.83.388(b), 44.83.425(3), 44.83.600, 44,83.605, 44.83.610,44.83.615,44.83.620,44.83.625,44.83.630,44.83.392, and 44.83.650 are repealed. * Sec. 31. In accordance with AS 44.83.185(c) and contingent upon secs. 33 and 36 of this Act, the Alaska Energy Authority is authorized to provide for the design and construction of a 138 kilovolt power transmission intertie between Anchorage and the Kenai Peninsula at a cost of $89,000,000 in 1992 dollars. However, the power transmission intertie authorized by this section may be designed and constructed at a voltage higher than 138 kilovolts but only if the state does not incur additional costs to do so. * Sec. 32. In accordance with AS 44.83.185(c) and contingent upon secs. 33 and 36 of this Act, the Alaska Energy Authority is authorized to provide for the design and construction of a 138 kilovolt power transmission intertie between Healy and Fairbanks at a cost of $89,000,000 in 1992 dollars. However, the power transmission intertie authorized by this section may be designed and constructed at a voltage higher than 138 kilovolts but only if the state does not incur additional costs to do so. * Sec. 33. (a) The authorizations made by secs. 31 and 32 of this Act are contingent upon written agreements between the Alaska Energy Authority and the elecuic utilities participating in the projects authorized by those sec ions providing that the participating utilities agree to WORK DRAFT WORK DRAFT WORK DRAFT wholesale power costs; CSSB 106( ) .16* New Text 'Jndsrlined IDELETED TEXT BRACKETED] 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 pay (1) design and construction costs for the power transmission interties authorized by secs. 31 and 32 of this Act that exceed $90,000,000; these costs shall be divided among the utilities in proportion to the retail kilowatt hour sales of e;ich utility during the previous calendar year, and (2) the operation and maintenance costs of the power transmission interties authorized by secs. 31 and 32 of this Act. (b) Notwithstanding AS 42.05, the Alaska Public Utilities Commission may not review the design and construction costs divided among the utilities under (a)(1) of this section. * Sec. 34. (a) In accordance with AS 44.83.185(c) and contingent upon (b) and (c) of this section and sec. 36 of this Act, the Alaska Energy Authority is authorized to provide for the design and construction of a 115 kilovolt power transmission intertie between the Swan Lake and the Tyee Lake hydroelectric projects at a cost of $56,000,000 in 1992 dollars through a loan to the participating utility or utilities for a term of 50 years at three percent annual interest However, the power transmission intertie authorized by this section may Ije designed and constructed at a voltage higher than 115 kilovolts but only if the state does not incur additional costs to do so. (b) The authorization made by (a) of this section is contingent upon the execution of a written agreement between the electric utilities participating in the project authorized by this section and the Alaska Energy Authority that provides that the participating utility or utilities agree to pay (1) design and construction costs for the power transmission interne authorized by (a) of this section that exceed $20,000,000; and (2) the operation and maintenance costs of the power transmission intertie authorized by (a) of this section. (c) The authorization made by (a) of this section is contingent upon the completion of the requirements set out in AS 44.83.181 and 44.83.185(a). The Alaska Energy Authority shall notify the revisor of statutes of the completion of these requirements. * Sec. 35. (a) In accordance with AS 44.83.185(c) and contingent upon (b) and (c) of this section and sec. 36 of this Act, the Alaska Energy Authority is authorized to provide for the design and construction of a 138 kilovolt power transmission intertie between Sutton and WORK DRAFT WORK DRAFT WORK DRAFT -17- New Text Underlined IDELETED TEXT BRACKETED] CSSB 106( ) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Glennallen at a cost of $50,000,000 in 1992 dollars through a loan to the participating utility or utilities for i term of 50 years at three percent annual interest. However, the power transmission intertie authorized by this section may be designed and constructed at a voltage higher than 138 kilovolts but only if the state does not incur additional costs to do so. (b) The authorizauon made by (a) of this section is contingent upon the execution of a written agreement between the electric utility or utilities participating in the project authorized by this section and the Alaska Energy Authority that provides that the participating utility or utilities agree to pay (1) design and construction costs for the power transmission intertie authorized by (a) of this section that exceed $35,000,000; and (2) the operation and maintenance costs of the power transmission intertie authorized by (a) of this section. (c) The authorization made by (a) of this section is contingent upon the completion of the requirements set out in AS 44.83.181 and 44.83.185(a) and approval of the feasibility study by the office of management and budget. The Alaska Energy Authority shall notify the revisor of statutes of the completion of these requirements. * Sec. 36. In providing for the design and construction of the interties authorized by secs. 31, 32, 34, and 35 of this Act, the Alaska Energy Authority shall make loans to the appropriate participating utilities or award grants to them to the extent permitted by the appropriation for the costs unless the participating utility decline;; in writing to apply for the loan or grant. If the participating utility declines in writing to apply for the loan or grant, the authority may proceed with the design or construction itself. * Sec. 37. Sections 1 - 30 of this Ac', take effect immediately under AS 01.10.070(c). WORK DRAFT WORK DRAFT WORK DRAFT CSSB 106( )-18- New Text Underlined [DELETED TEXT BRACXETED] SB 106: "An Act relating to authorization of Anchorage-Kenai, Healy-Fairbanks, and Tyee-Swan interties." The bill includes several provisions: 1. Authorizes design and construction of three 138 kV transmission lines (Anchorage-Kenai, Healy-Fairbanks, and Tyee-Swan) in accordance with AS 44.83.185(c). 2. Approves a construction cost for each project in accordance with AS 44.83.185(c). 3. Requires that the Anchorage-Kenai and Healy-Fairbanks transmission lines be capable of upgrade to 230 kV. 4. Makes project authorization of the Anchorage-Kenai and Healy- Fairbanks interties contingent upon agreement by participating utilities to pay 50 percent of design and construction costs, and all operations and maintenance costs. 5. Expresses the intent of the Legislature th. j (. the Energy Authority finance tlie Tyee-Swan project with revenue bonds to be repaid from Four Dam Pool power sales. The Alaska Energy Authority (AEA) supports the authoriza :.on of the Anchorage-Kenai and Healy-Fairbanks 138 kV transmission line projects. This position is supported by a feasibility study issued by AEA in March 1991, which was adopted by the AEA Board of Directors and submitted to the Legislature at that time. AEA has proposed that the Governor submit legislation this year that would contain these project authorizations. The AEA Board of Directors has not taken a position on the Tyee-Swan intertie, although a feasibility study issued by AEA in 1992 concluded that the project is economically feasible if electricity demand continues to grow in Ketchikan. AEA staff supports the project, but has proposed that other potential Southeast energy projects be reviewed and compared before a final commitment is made to Tyee-Swan. Also, note that the $55.6 million cost estimate developed in the feasibility study is for a 115 kV line rather than 138 kV. The construction costs appearing in SB 106 are drawn from AEA feasibility studies, but for clarity should indicate the price level associated with each estimate. The $84.1 million and $77.6 million estimates for the Railbelt interties were both developed in January 1991 iollars. The $55.6 million estimate for Tyee-Swan was developed in 1992 tu liars. POSITION P A P E R SB 106 Page 2 With respect to the Anchorage-Kenai line, there is significant uncertainty in the cost estimate due, in part, to questions about the necessity of burying thu sunmarino cable, questions that will net be resolved until the design stage. There are significant cost issues with respect to Healy-Fairbanks as well. Because of this uncertainty, the proposed AEA legislation includes a provision that, if actual construction cost exceeds the cost approved in the authorization act, project authorization will remain effective provided that no portion of the excess costs are payable by the state (i.e., that the utilities agree to pay such excess costs). AEA does not support the language in SB 106 requiring that the Anchorage- Kenai and Healy-Fairbanks lines be capable of being upgraded to 230 kV. This language would essentially require that each line be built initially to 230 kV standards in terms of structure size for the over uead towers and cable capacity for the submarine cable, all at a cost substantially higher than the cost estimates proposed for approval. If the overhead towers and submarine cable are sized for 138 kV operation, they would essentially have to be replaced in order to "upgrade" to 230 kV. AEA supports the concept of requiring the participating utilities to pay a substantial portion of construction costs for the Railbelt intert ies, and all operations and maintenance costs. However, we are pursuing an approach by which the state would contract with the utilities for construction of the projects, limit the state’s contribution to a fixed amount, and shift the risk of cost overrun to the utilities. In contrast, SB 106 would commit the state to 50 percent of whatever the actual construction costs turned out to be. There is ambiguity in the expression of legislative intent for the financing of the Tyee-Swan project; specifically, whether the Four Dam Pool power sales revenue dedicated to paying off the intertie revenue bonds is intended to be additional revenue to be realized by increasing the Four Dam Pool wholesale power rate, or is intended to be a portion of the revenue stream that is presently projected given no change in the existing power sales agreement. If additional revenue is intended from an increase in the wholesale power rate, agreement by all five of the Four Dam Pool utilities would be necessary to change the wholesale power contract accordingly. This seems to us unlikely. However, the existing revenue stream is pledged for repayment of the AEA loan from the Power Development Revolving Fund. We believe that at least part of this loan would have to be forgiven by the Legislature or appropria id to AEA before the loan repayments could be diverted for payment of revenue bond debt service. POSITION P A P E R SB 106 Page 3 AEA would oppose the idea of financing 100 percent of the Tyee-Swan construction cost from the existing power sales revenue stream because it would mean no contribution from the affected communities toward the payment of intertie construction costs beyond what they are already paying on existing debt. AEA and the administration have adopted a policy of seeking a reasonable contribution from the communities that benefit from state capital projects, both as a way of leveraging limited state funds and as a way to ensure that such projects are important to the people they would serve. If revenue bonds were issued to pay the full cost of the Tyee-Swan intertie, debt service payments would be expected to exceed $5 million per year, or roughly half of the expected Four Dam Pool power sales revenue stream. Finally, the AEA p osition on similar bills introduced in the House (see Position Paper on HB 50 and HB 51) applies to SB 106 as well. While the projects in SB 106 would provide benefit to particular regions of the state, it does not address the overall state energy needs. A comprehensive approach is imperative if we hope to succeed in providing efficient power at reasonable cost to all areas of our state. issioner a - Date dgl/090pp/aea 1 1 | A L A S K A E N E R G Y A U T H O R IT Y C S S B 106 Projected Fiscal Changes 1 P C E A d m in istr a tio n P C E G r a n ts Annual Reduction in General Fund Appropriations YEAR Can Fund AEA Revolving Fund(GF Savings) Gan Fund AEA Ravolving Fund(GF Savinga) 1994 182.0 17,000.0 0.0 0.0 1995 190.2 14,571.0 2,429.0 2,429.0 1996 198.7 12,143.0 4,857.0 4,857.0 1997 207.7 9,714.0 7,286.0 7,286.0 1998 217.0 7,286.0 9,714.0 9,714.0 1999 226.8 4,857.0 12,143.0]12,143.0 2000 237.0 2,429.0 14,571.01 14,571.0 2001 247.7 17,000.0 17,247.7 2002 258.8 17,000.0 17,258.8 2003 270.5 17,000.0 17 770.5 2004 282.6 17,000.0 17,..92.6 2005 295.4 17,000.0 17,295.4 2006 308.7 17,000.0 17,308.7 2007 322.5 17,000.01 17,322.5 2008 337.1 17,000.0 17,337.1 2009 352.2 17,000.0 17,352.2 2010 368.1 17,000.0 17,368.1 2011 384.6 17,000.0 17,384.6 2012 401.9 17,000.0 17,401.9 2013 420.0 17,000.01 17,420.0 Totals 1,459.5 4,250.1 68,000.0 272,000.0 276,250.1 Analysis Fiscal Note CSSB 106 The legislation affects three components of the Alaska Energy Authority (AEA) budget - Power Cost Equzliation (PCE) Grants, PCE Administration and AEA Operations. Over a 20-year period, the bill would shift funding for the PCE program away from the general fund to a new Energy Authority revolving fund. This shift, as intended by the legislation, would save the general fund $272,000,000 in funding for PCE grants and $4,250,100 in estimated general funds for PCE Administration. The legislature would reappropriate funds from the revolving fund to the PCE or other programs as they decide. The bill also authorizes four interties and a companion bill SB 126 appropriates state monies for partial funding of their construction. The balance of funds required would b 3 provided through the issuance of bonds after suitable contracts were executed. The AEA Operations component would require an influx of money from the revolving fund in the early years to fund the staff and contractual efforts required to execute the contracts for design and construction of the projects and to finance the balance. As the projects came on-line, AEA would receive monies from the utilities to pay for the operation and maintenance of the projects beginning in the FY99 fiscal year as general fund/program receipts. While these are displayed on the fiscal notes, such restricted receipts will be revenue neutral and would not need to be shown if AEA's O&M receipts were also removed as general fund program receipts by a change to AS 37.05.146. As the bill stands, the O&M receipts would still need to be appropriated by the legislature from monies collected from the utilities receiving the interti service. 93Q2\IT4647(1)Page 1 of 1 Testimony of Daniel E. Bloomer—Chugacli Electric Association, Inc.On SB 106 & 126 Before Senate Finance Committee April 15,1993 Thank you for the opportunity to present Chugacli Electric Association's comments on SB 106/126. As many of you know, Chugacli is the largest electric utility in the state of Alaska, providing service to more than 63,000 customers in tiie Anchorage bowl and upper Kenai Peninsula. Chugacli is also the largest generator and transmitter of electricity in Alaska. In addition to generating power for our own customers,Chugacli also produces the electricity used by Matanuska Electric Association in Palmer (29,000 customers), Homer Electric Association on the Kenai Peninsula (18,000 customers), City of Seward (2,600) customers, and sells economy energy to Golden Valley Electric Association in Fairbanks (27,000 customers). Therefore, Chugacli has substantial interest in this legislation. The bills before you, as amended yesterday, present a solid energy package that will help to strengthen power systems throughout the state. In the Railbelt, the new interties will improve the ability to transfer Bradley Lake power throughout the region and reduce operating costs for the utilities. The Sutton to Glcnnallen intertie will electrically tie the Copper River Basin and City of Valdez into the railbelt providing those areas with access to inexpensive reliable electricity. The Swan-Tyee intertie will enhance southeast's ability to utilize their hydroelectric facilities and ultimately reduce costs for all of the four-dam pool participants. PCE funding gives our rural systems financial support which allows them time to resolve their energy problems. In a nutshell, these bills represent a good energy package that addresses a majority of the electrical needs in Alaska. The utilities are united in our suppoit for th' linkage and we urge your support to move the bills to the Senate floor. Thanks again the opportunity to comment on these bills. Alaska Village Electric Cooperative, Inc.4831 Eagle Street Anchorage, Alaska 99503 561-1818 April 15, 1993 Memo to: Senate Finance Committee From: Charlie Walls, General Manager (Y Re: SB 106/126-Energy Plan The Alaska Village Electric Cooperative (AVEC) is a bush electric utility system that serves a population of about 20,000 rural people who live in 49 villages. This summer that will increase to 50 villages with the community of Brevig Mission joining us. The power cost equalization program is of critical importance to rural Alaska. We have followed the progression of SB 106/126 and support the bill as amended on April 14. Our bottom line is twenty year funding for the PCE program at $17 million per year. The cash flow will enable us to move toward the goal of self sufficiency. When we talk with the federal government about loans for our villages, the fact that the state has made a long term committment will greatly enhance our abilitiy to increase federal participation in solving the rural energy problems. We also support the state investing in the transmission interties. This strengthened infrastructure will provide the means for future economic development in the state. The bill is a good balance for the whole state. We fully support the bills in their present form and urge reporting them out of the Senate Finance Committee. A l a s k a Btntt f e g i s l a t u r n SENATOR FAIRBANKSBERT SHARP DENALI BANK BUILDING 119 N. CUSHMAN. SUITE 201 FAIRBANKS. ALASKA 99701 (907)452-7885/7886OISTRICTP CHAIRMANTRANSPORTATION COMMITTEE SESSION AODRESSMEMBER FINANCE COMMITTEE LEGISLATIVE BUDGET & AUDIT COMMITTEE HEALTH & SOCIAL SERVICES STATE CAPITOL, ROOM 514 JUNEAU. ALASKA 99801 -1182 (907) 465-3004/4921 ^cnafc MEMORANDUM TO:Senator Drue Pearce, Co-Chairperson Senate Finance Committee RE FROM: Senator Bert Sharp Request for Hearing DATE: February 18, 1993 I am requesting Senate Bill 106; "An Act authorizing power transmission interties between Anchorage and the Kenai Penisula, between Healy and Fairbanks, and between the Swan Lake and Tyee Lake hydroelectric projects, and approving the design and construction costs of the interties; and providing for an effective date," be heard before the Senate Finance Committee. Thank you for your consideration. REPRESENTING GOLDEN HEART OF ALASKA 03-03-93 10:02AM FROM CHUGACH ELECTRIC TO 4653922 P001/003 C ^ h u a c L c lt ELECTRIC ASSOCIATION, INC. 5601 Minnesota Drive Anchcrao*. Alejku 9851BC300 FACSIM ILE TRANSM ITTAL SHEETPhone: 807-563-7494 DATE: March 3, 1993 TO: Senator Taylor CO M PANY: LOCATION: FA X NO.: 7~ FROM : ^/T om Stevenson j y fe 'fo im k t*ItC. U 4 i l>'Jrc -3 SUBJECT: V -----—----- COM M ENTS/M ESSAGE: M ary - Give this to Senator Taylor. Thanks. TOTAL NUMBER OP PAGES TRANSMITTING:3 (Includes Cover Sheet) IP TRANSMISSION IS INCOMPLETE, PLEa SE CALL: (907) 762-KS03 nME/DATE OP TRANSMISSION:BY: ALAN OR JC j aiUGAQI PAX NO.: (907) 502-0027 MACHINE TYPB: DEX 740 OR CANON 8S0 / J & / <3 Co 03-93 10:02AM FROM CIIUGACH ELECTRIC TO 4653922 P002/003 3 - 3 -?3 *-/ S"d>sn \ ~7jiy^o l^& ..JNtKCPft£S> iV Njouj uJ*cb U J^iplortfi o iU t . — a A e f f lf t L _S *L •er^vm ^ _ p m ^ e c ^ , .. ihJ, IVT AOiKo. bty t\kv. lAkU'W^ W ttNftyg& \Ki S t. _ vKi /Vlfl cWrcmftO Bbl> n\przrm)\> offices^ qkiCl of \^ \K . ^ Otsltv^mo05> sordid’ faL -H*. SuJftO VftKt. - YftKfc Tv^ t, , \W# CViinca O WtffcE oVtLvW& ... £gy N^oT U ftX -art eivia)0(U^t ftK) i^W in*. t^H/e-exJ ___ AkJD 3 uaM i. IaI i \oeAi*v-o U^. Afcft ^o^4" \*U1 Vxt* P^Jv\tWyA\ W 4 . T ^l fVLA lifts feWWiA *wyw^W» A - _________________________________________ of' 4U Ttyg-Sule^ ^uJcvXd U- JL mx, A u»y\ _ W tMbaXjQ ^Vlj4 AfrlwJ i i rn \ p<L*.\J Iflj/jijA UkJUSg j ____ over^ Hsi. Oftnv flT TtAet/ A*ov^ dLfttfoll uJojM Iq<I I r\ n o I * • 1 .V *4* \ J I — ' i & uA «i eAtfiC vkj iA J _e^1oo4iTk ^>i^\>ltn\ fttt LfrmttuJ ui/K^ 44v& SulftO ^lC]^ l^iUafcx J s J W ^ n t a "VfU SU ^e oiAi/js -}j^_4 uhl .p o v ^ _ ,£ ^i^o __________________1 JW ^G flNfJQ G ^ — [\*lJ Cftf) 4t\& COmmriJiAt^ Sorvto .2^it\iAktjv^-.JA- uoiW -hp ^ rsio QVMi ____ ^ ejrii.ftxA^cj^ _.. ^ C y V V ^ QvW*j( Vx^ InI qn J " BfeA_... .o iitd lj * d r__ cW V • &ovUiwj ujU) jnm . —BfiOtMAH- 4s. Vvolct gflfes. C^emiAl^ k-^Ciksu ..._AtJ> ^A>S'Aiz.-e. -Re. o^gt foonOftnn, PooL mehvW.- _ vAVia vi6^\(k J>r W . UNiMtflSKiflkk vJKjiWAii. l* pojll1 __C0N^f f i n e , f t s W x V e i U n S o W k L a r M L ( U l l R a g . F n U ie . D f lg y f t t f l -vivwfWj \s Pftfl.u\gfeA ,__________________________ 5 i > U < . - V k e S A t A ^ - - n u l iJ 3 U a Vs. K lp V O t O f m ^ gAiA W (W A&tvifc, _ _i^__mra*_ihrv) z.i>vt^ AW; ._. lI_v\- ^ w L ;ik p .... ftUo p ^ J e r S fe tL A jvt . . $. ihW<&4m+Kfa fts .q sA L l^L :- k *C L .. Q £ f) '..•*■£ W _W |A fi>tu ft\p&W 3 P&W U ftfcip . U x / ^ R ^ yS x£ gfv^^(LiKJ»y A^fc, £fUW, ) K)fi^<A*JcW^ f 4fcs \Q\ii Wk ft ixf\s<g, (WO o u tOvnv/cvL> \v)rasi-meCr \AvH \ d e fo n J ty k U _W kM ^ _________ JANUARY 1989 ALASKA ENERGY AUTHORITY (All Dollars In Thousands) paoe 1 ota 13-Apr-93 6/30/93 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 AEA R evolving Fund B alance $141,800 $161,926 $173,344 $176,428 $121,470 $82,033 $68,164 $92,385 $94,160 $96,090 $98,120 Revenue Revolving Fund Investment Income 10.835 12.144 13,001 13,232 9,110 6.152 6.812 6.029 7.062 7.207 Collections on Existing Lo? i 2.413 2.413 2zn 2244 2.234 2,181 2,130 1.956 1237 1.931 Debt Service from 4-Dam fool 10.396 10,667 10.909 11.155 11,406 11,584 11,766 11,932 12,081 12.121Appropriation - PCE 17,000 14,571 12.143 9.714 7.268 4,857 2.429 0 0 0 Appropriation - PCE Admin.182 190 109 207 217 2Z7 237 0 0 0 Total 40.626 39.936 36 522 86.553 30,252 25.00 f 23.174 20817 21860 2 r.2saExpenditure Railbelt Intertie Grant 1,000 3 COO 14.400 65,600 0 0 0 0 0 0Tyee-Swan Intertie Grant SOD 500 1.200 3,600 29J200 0 0 0 0 0Copper Valley Intertie Grant 500 500 I.200 3.800 21.700 0 0 0 0 0 Other Capital Projects/ Programs 0 0 0 D 0 0 0 0 0 0PCE Outlay 517,000 417.000 417,000 417/xto 417,000 417,000 417 COO 417,000 417800 417,000Rural Technical Assistance 1,500 1560 1.838 1.712 1.789 1,869 1.853 2041 2133 2229 Total 20.500 28.588 35,438 91.512 69.689 18.669 18.953 19.041 19.133 19,229 Surplus (Shortage)5 2D.128 5 11,416 4 3J084 (S54A5B)(439,4371 4 8,132 4 4220 4 1773 4 1230 4 2.030 com22 CO-< COICOCO Revolving Fund Beginning Balance Railbelt Energy Fund $2,800 Railbelt Interlie Reserve Fund 100,000 Interest on Rbtt lutertia Reserve 16,000 Bradley State Fund Surplus 11,000 Additional Stale Contribution 10,000 Total________________________$141.600 Funds ana available in the Revolving Fund for annua] appropriation to AEA Administration Projections exclude restricted revenues and associated expenditures. (Example: revenues dedicated to project operations and maintenance.) Assumption* Annual Inflation Rale 4.5 % Return on AEA Fund 7.5 % of fund balance PCE State Appropriation 7 year ramp Railbelt Intartie EsL Total Cost $180,000 Railbelt Intertie State Grant $90,000 Tyee-Swan Est Total Cost $60,000 Tyee-Swan Stale Grant $35,000 Copper Valley Est. Total Cost $60,000 Copper Valley State Grant $27,500 >- mxCD-< -<x Case OJ 5pee el> ^ | ALASKA ENERGY AlTTHORrTY (Alt Dollars In Thousands) p*ja2 ot2 13 Apr-53 2004 2005 2006 2007 2008 2000 2010 2011 2012 2013 AEA R evolving Fund B alance $100,162 $102,077 $103,894 $105,711 $107,580 $100,543 $111,570 $113,660 $115,839 $116,082 Total Revenue Revolving Fund Investment Income 7.3»7,512 7.658 7,792 7,92a 8,063 8,216 8,368 8,525 6,668 $172188Collections on Existing Loans 1.831 1,603 1,425 1,347 1,333 1,333 1,333 1,333 1,333 1/333 35.820 Debt Service from 4-Dam Pool 12.182 12.226 12,280 12*38 12*96 12,454 12512 12568 12/625 12/684 238.263 Appropriation - PCE 0 0 0 0 0 0 0 0 0 0 88.000Appropriation - PCE Admin.0 0 0 0 D 0 0 0 0 0 1.458 Total 21,372 21.343 21.381 21/475 21,658 2IA56 22061 22.289 22483 22.706 515.839 E xpenditure Railbelt Intertie Grant 0 0 0 0 0 0 0 0 0 0 90,000 Tyee-Swan Intertie Grant 0 0 0 0 0 0 0 0 0 0 35.000Copper Valey Intertie Grant 0 0 0 0 0 0 0 0 0 0 27.500 Other Capital Projects/ Programs 0 0 0 0 0 0 0 0 0 0 0 PCE Outlay $17,000 $17,000 $17,000 $17,000 $17,000 $17,000 $17,000 $17,000 $17,000 $17,000 340,000 Rural Technical Assistance 2.32S 2434 2544 2868 2778 2/303 3.034 3.170 3.313 3/482 47.067 Total 10/329 19.434 19.544 19/858 13.778 19/803 20.034 20,170 20313 20/182 539,567 Surplus (Shortage)* 2043 $ 1.316 $ 1JB17 $ IJB17 $ 1/878 S 1,333 S 2/027 S 2/099 $ 2170 $ 2243 -----{23,71*0 STATE OF ALASKA 1993 LEGISLATIVE SESSION FISCAL NOTE B ILL NO. SB 106 Revision Date: ____________________________________ Title: Authorization ot Anchorage-Kenai, Healy-Fairbanks, and _______Tyee-Swan Interties_________________________ Sponsor: Sharp et al.______________________________ Requestor:_______________________________________ EXPENDITURES/REVENUES: Department Affected: Commerce and Economic Development BRU: Alaska Energy Authority_______________________ Component: AEA Agency Operations__________________ COMPONENT SERIAL NO. 7304010100 OPERATING FY 94 FY 95 FY 96 FY 97 FY 98 FY 99 PERSONAL SERVICES 185.5 192.9 422.4 439.4 456.9 225.7 TRAVEL 25.0 26.0 54.1 56.2 58.5 30.4 CONTRACTUAL 143.0 SUPPLIES EQUIPMENT LAND & STRUCTURES GRANTS, CLAIMS MISCELLANEOUS 111.3 115.7 253.4 263.6 274.1 135.4 TOTAL OPERATING 321.8 334.6 729.9 759.2 789.5 534.3 CAPITAL 678.2 865.4 2,870.1 34,040.8 18,610.5 ________ REVENUE FUND SOURCE: FUNDING: 1002 Federal Receipts 1003 GF Match 1004 GF 1005 GF/Program Receipts 534.5 1006 GF/MHTIA OTHER 1,000.0 1,200.0 3,600.0 34,800.0 19,400.0 TOTAL POSITIONS: FULL-TIME 2 2 4 4 4 2 PART-TIME 1 1 2 2 2 1 TEMPORARY Estimate of current year (FY 93) impact: 0 ANALYSIS: (Attach a separate page if necessary.) See Attached Page -Tepared by: Hichard bmerman Division: Alaska Energy Authority "Piiorie:— 55T7B7T Date: 2/19/93 Approved by Commissioner: Paul FuhstAgency: Commerce and Economic Developn Date: Rev 11/92 dgl/089(n.aea PREPARER TO PROVIDE ALL DISTRIBUTION COPIES TO GOVERNOR'S LEGISLATIVE OFFICE For further distribution information call the Governor’s Legislative Office Page 1 of __2_ FISCAL NOTE STATE OF ALASKA BELL NO. SB 106 1993 LEGISLATIVE SESSION ANALYSIS: (continued) The fiscal note assumes the following: 1. Anchorage-Kenai and Healy-Fairbanks interties, though authorized, are not built as a result of this bill alone because an appropriation would also be needed. 2. Tyee-Swan is built as a result of this bill because no appropriation is needed. Revenue bonds are issued for the full construction cost. 3. The fiscal note shows a schedule of outlays for construction of Tyee-Swan using bond proceeds, but does not show the payment of debt service on these bonds. No attempt has been made to account for financing costs and interest during construction, which would add to the total bond size. Debt service on the bonds would be expected at about $6 million per year, assuming a $70 million bond issue for 30 years issued at a tax-exempt rate of 7.5 percent. This $6 million per year would come from Four Dam Pool power sales. 4. The Energy Authority is expected to build the Tyee-Swan intertie rather than contract with a local utility to build it. Additional positions are shown consistent with Energy Authority l construction of a major project. A project manager, half-time environmental and right-of-way position, and administrative assistant are shown for the first two years. To these are added two full-time engineers and a half-time accountant during years 3 through 5. FY 99 is projected as the first full year of project operation. Overhead is shown at 60 percent of personal services costs. 5. Program receipts in FY 99 are assumed to come from purchases of power over the intertie to pay for operations and maintenance, and Energy Authority costs during the initial year of project operation. dgl/089fn.aea Page 2 of _2 f SENATE COMMITTEE REPORTFIRST COMMITTEE OF REFER mAL DATE: 2/10/93 FURTHERS FINANCE DATE TURNED INTO OFFICE: J — _Li4—Date of 5-Day Notice: (in accordance with Unifor L&C Committee considered SB 106 — - "An Act authorizing power transmission interties between Anchorage and the Kenai Peninsula, between Healy and Fairbanks, and between the Swan Lake and Tyee Lake hydroelectric projects, and aoproving the design and construction costs of the interties; and providing for an effective dam and recommends: [ ] replace with ■ "d report It back as fcllow a CS [ ] attaches amendment(s) [ ] adopts____________________ [ ] further referral to the ______ [ ] sam e title J [ ] new title [ j te c h n ic a l title change (H B o n ly) Letter of Intent [ ] do pass [ ] do not pass [ ] no recommendation [ ] individual recommendations Department 3 Date Zero FISCAL NOTE INFORMATION Fiscal Department Date Zero Fiscal ^f^^Jppropriation No Fiscal Nole DO PASS: [ ] Governor's Bill with Previous Fiscal Notes (enter information above) OTHER RECOMMENDATIONS: . e c tswic-h^ -\ ^ Q o _ 'J ) 0 Cha,.: Signature/and Recommendation