[{"_1":2,"_100":-5,"_101":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6088824,"mediaKeyId","2879320-c0b817f5a00523effa9a5452f13841d2","parentId",2879320,"title","Senate Labor and Commerce adopts two amendments to omnibus insurance bill, reports SB132 from committee","audioSeconds",576,"startMs",554000,"endMs",1130000,"viewUrl","/Search/View?dp=1&key=2879320-c0b817f5a00523effa9a5452f13841d2&start=554&end=1130","thumbnailUrl","https://assets.pipeline.soar.com/2879320-c0b817f5a00523effa9a5452f13841d2/thumbnail_554000.jpg","articleUrl","/articles/6088824/Alaska/Senate-Labor-and-Commerce-adopts-two-amendments-to-omnibus-insurance-bill-reports-SB132-from-committee","mediaUrl","https://secure.pipeline.soar.com/6088824-7cefa61ce6cbb66b201f82fd8786ad84/orig.mp4?Expires=1770625124&Signature=nRUr9k8WeQ9bnxKpM4B8V~sMQ7pVJR09d~o-PBP8sRidG1lfePQV7ElS-uUA7Rfe5OD~YDqQXhrfVB5xc46heK00nl0b6TcLOkAS43w1Qg9nWuivPQhURnykma1Ph6eENXzxJEVEjtxAFrJUZND5RUZE3tAEhlSN-5Wop6iaoojwlqMoOdWBn8kne0avRVicVPMVP~7~Wl8ps4v9WsH9rFT-tGd54GxZxr4IaLcnIw8iHa2xdr9nGCcZ5hpjShMYX9g65YmZX1BrAu-quBc5JiCNIhWJJg9llrfuI0sn10Ev7C7D~IYqMl5XSB0SZosU9my4V30D9Sj7NbCDMa7u8w__&Key-Pair-Id=KUT5TJCACFTXG","author","Alaska State Legislature","date","2025-04-04T00:00:00Z","article","The Alaska Senate Labor and Commerce Committee voted to adopt two amendments and reported Senate Bill 132, the omnibus insurance bill, from committee on April 4, 2025, in Beltroom 105, Juneau.

The bill, which makes technical and conforming changes to Title 21 (Alaska's insurance statutes), was discussed briefly by staff and the Division of Insurance before members took up two proposed amendments. Conrad Jackson, staff to Senator Bjorkman and the committee, gave a brief recap of the bill. \"The bill before you today, Senate Bill 132, is, the omnibus insurance bill, making technical and conforming changes to Title 21, which is Alaska's insurance statutes,\" Jackson said.

The first adopted amendment, G1, addresses whether insurers may depreciate labor for residential property claims. Lori Wing Hyre, director of the Division of Insurance, told the committee that amendment G1 allows depreciation of labor only when the insured residential policyholder is given a stand-alone endorsement and a clear explanation comparing costs with and without depreciation. \"The new amendment ... allows for depreciation but only if it's presented on a residential property where the insured is given a stand alone endorsement to show that the labor will be depreciated and they are shown the cost difference between having your labor depreciated on rebuild or not having it depreciated on a rebuild,\" Wing Hyre said. The policy itself, she said, will not permit depreciation unless the consumer opts into the endorsement.

The committee also adopted amendment G2, which adds an owner-controlled or contractor-controlled insurance option for certain large multi-residential construction projects. Wing Hyre explained that the amendment defines a qualifying multi-residential construction project as having at least 50 units, at least three owners, and a total project cost of $25,000,000 or more. Senator Merrick moved both amendments and the committee adopted them.

After amendment votes, the committee moved to report SB132. A motion was made to report \"Senate Bill 132 version 34-LS0415\\G as amended from committee with individual recommendations and attached fiscal note.\" Hearing no objection, the committee reported SB132 from committee with individual recommendations and an attached fiscal note. The chair then paused the meeting briefly to finalize paperwork.

Why it matters: amendment G1 changes how labor depreciation may be presented to residential policyholders by requiring a discrete endorsement and clear disclosure. Amendment G2 changes how large multi-owner residential construction projects may be insured by adding a statutory definition and threshold for owner- or contractor-controlled insurance programs.

What remains to be decided: SB132 was reported from committee and will proceed through the Senate process; the committee action does not itself change the underlying effective dates or implementation details beyond the adopted amendments.

","mediaType","Video","parentTitle","04/04/2025 01:30 PM Senate LABOR & COMMERCE","oneSentenceSummary","The Alaska Senate Labor and Commerce Committee voted to adopt two amendments and reported Senate Bill 132, the omnibus insurance bill, from committee on April 4, 2025, in Beltroom 105, Juneau.","taxTitle","2025 Legislature Alaska, Alaska","taxId",78559,"location","Alaska","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6088814,"Senate holds first hearing on SB81 to remove 22% statutory cap on PERS employer contributions; testimony warns of local cost impacts",3170,1868000,5038000,"/Search/View?dp=1&key=2879320-c0b817f5a00523effa9a5452f13841d2&start=1868&end=5038","https://assets.pipeline.soar.com/2879320-c0b817f5a00523effa9a5452f13841d2/thumbnail_1868000.jpg","/articles/6088814/Alaska/Senate-holds-first-hearing-on-SB81-to-remove-22-statutory-cap-on-PERS-employer-contributions-testimony-warns-of-local-cost-impacts","https://secure.pipeline.soar.com/6088814-70f92297c4412decd83343c455a05649/orig.mp4?Expires=1770625124&Signature=W99z8EkdNZvgJ7gYObuiJtWvEUdxRDqoxzT4QNavA5xkzc5PWWqAiy0Hk~cB6k7zr4Gx6jVEXiPQOBbBwPYnwdf9Q4-BNIRqujZNGYPDjWi0m6u0lPiHTQy99SBUL9g5ybJ1gKXgcdGGIUUruOZR-zrcqmpPEr9kOr0X0KiwO1h340rVCHg0Of-NoUWuUZfG3Mq2mWl~xbixy8FRz8N~VByIezxnJ3VJTUabZcUeREyo4t82mTzB8K76umwW1UhVnEwlUByrMqqedYuXX9B2YYmsSllRcaf~vg7rh8Q1jP857BY-zaet2nG5v30EvBGsGld~cgHJFJ873tsqUNfj4w__&Key-Pair-Id=KUT5TJCACFTXG","The Alaska Senate Labor and Commerce Committee held the first hearing on Senate Bill 81 on April 4, 2025, in Beltroom 105, Juneau. The bill would remove the statutory 22% cap on employer contributions to the Public Employees' Retirement System (PERS) and give the Alaska Retirement Management Board (ARM Board) flexibility to adjust the contribution rate to address the system's unfunded liability.

Senator Bert Stedman, sponsor of SB81, told the committee the bill targets the long-running unfunded liability in the state's retirement systems and would allow the ARM Board to increase or decrease the non-state employer rate instead of leaving 22% fixed in statute. \"To aid in reducing the unfunded liability, the Alaska Retirement Management Board in this bill would have the flexibility to adjust the 22% rate,\" Stedman said, adding the change is intended to encourage a broader discussion with municipal employers and other participants.

Stedman and his staff described the scope of the liability during the presentation: the unfunded liability rose from about $5.3 billion in FY2013 to about $5.7 billion in FY2023, and the state has contributed roughly $2.5 billion in recent years to reduce the liability. Committee discussion included questions about how contributions are set, the ARM Board's role, and the budgetary mechanics. Stedman said the state's contribution to the past-service cost is paid from general funds and that the ARM Board sets contribution rates.

Public testimony included comments from John Rangstad, a member of the Fairbanks City Council, and Lisa Parker, president of the Alaska Municipal League (AML). Rangstad described the issue as a high priority for Fairbanks and stressed that municipal participants need to be included in any solution; he said initial estimates suggested the city could face roughly $1 million annually if the state changed contribution responsibilities. Parker testified for AML and told the committee she was \"seriously concerned\" that removing the 22% cap without transition mechanisms or state assistance would force local governments to absorb unpredictable pension costs, potentially leading to layoffs, service cuts, delayed projects, or tax increases in smaller communities.

Stedman emphasized that the bill would not itself set a higher rate but would remove the statutory cap and leave rate-setting to the ARM Board, with municipal input expected at ARM Board discussions. The committee did not take a final vote on SB81; the chair set the bill aside for further consideration at an upcoming meeting.

Why it matters: PERS unfunded liabilities affect state and municipal budgets. SB81 would change statutory constraints on who sets contribution rates and could shift budget pressure among the state and municipal employers depending on future ARM Board decisions.

Next steps: The committee set SB81 aside for further consideration at a future meeting. Stakeholders asked for continued dialogue and municipal inclusion in any rate-change discussions.","The Alaska Senate Labor and Commerce Committee held the first hearing on Senate Bill 81 on April 4, 2025, which would remove the statutory 22% cap on employer contributions to the Public Employees' Retirement System (PERS) and give the ARM Board flexibility to adjust rates.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6088819,"Senate committee reports bill to create state flood-insurance program, sponsor says proposal would supplant FEMA for some communities",574,1186000,1760000,"/Search/View?dp=1&key=2879320-c0b817f5a00523effa9a5452f13841d2&start=1186&end=1760","https://assets.pipeline.soar.com/2879320-c0b817f5a00523effa9a5452f13841d2/thumbnail_1186000.jpg","/articles/6088819/Alaska/Senate-committee-reports-bill-to-create-state-flood-insurance-program-sponsor-says-proposal-would-supplant-FEMA-for-some-communities","https://secure.pipeline.soar.com/6088819-bb4fea068acc860cabb5ab9bcc8d3c0e/orig.mp4?Expires=1770625124&Signature=omvtRzZibwKwfDUZOQIMfFmTy27VO85uYiucHB6B6Eb1t8QwJFEgo2W4kNj6ZygEd0tcGY1JjuQ6fwQzT5~DMIjJSHl5zWAqbc6hXdp77kCCn1UTE8o~OmShG7Rf29xgMb-rk2DGQiXwx364GY~k15nsWA~2ui~cM12L8AZ7l2d9UnjtRLflfzOtOfaRBuxFrVJSFYD6MqBOldXg~DecL2xkdYzVxVTXHlpits2a8Mu4zv~6DcgcFDyV4AEFgNHjnJv0ROHy7EyaCkyeqt5IzCL5ks9YjFd1K0DoAzlIBHN6o5pq6r2KdtdJjGjBPrfkUpoz-ibtycoKUag9Kt95LA__&Key-Pair-Id=KUT5TJCACFTXG","The Alaska Senate Labor and Commerce Committee reported Senate Bill 11 from committee on April 4, 2025, after a third hearing in which the sponsor outlined the bill's goal to establish a state-level flood-insurance program.

Senator Bert Stedman, sponsor of SB11, said the bill would establish a state program to supplant the Federal Emergency Management Agency's (FEMA) National Flood Insurance Program in parts of Alaska where he said federal premiums and building restrictions have been costly. \"Senate Bill 11 looks to put in a program at the state level to supplant the FEMA flood insurance program,\" Stedman said, adding the goals are to lower premiums, increase benefits, and return more control over shoreland building to local communities.

Stedman told the committee that many Alaska communities have planning commissions and local planning authority capable of managing development and that a state program could better reflect Alaska's loss history and community planning. The Division of Insurance director, Lori Wing Hyre, was present to answer technical questions about how flood maps and a state authority might interact with federal maps.

Wing Hyre explained the bill would create an authority that would evaluate maps; in some places the authority might accept FEMA maps and in others create state maps to identify exposures. \"The authority would have to look at the maps,\" she told the committee. \"Probably some of them, they would use and agree with what the federal government put out. And I would think in other areas, we would look at our own. Create our own and identify the exposures of the properties that we now have flooded or that we now have never flooded and probably won't.\"

Committee members expressed support for the discussion and requested municipal input. Senator Greg Jackson referenced a planning department letter cautioning against creating a public authority that might facilitate development in hazard-prone areas. The committee closed public testimony after hearing no in-person or online speakers during the reopened public testimony period. The committee then moved to report SB11 version 34-LS0134\\A from committee with individual recommendations and an attached fiscal note; the motion carried with no recorded objection.

Why it matters: SB11 would create a new state-level mechanism for flood insurance and map evaluation, potentially changing insurance costs, development restrictions, and local control over shoreland planning in affected communities.

Next steps: SB11 was reported from committee with a fiscal note and will proceed through the Senate process.","Senate Labor and Commerce reported Senate Bill 11, a proposal to create a state-level flood insurance program intended to lower premiums and return certain land-use control to local authorities; sponsor said the state could respond faster than FEMA, and the committee recorded no objections when reporting the bill from committee.","actionData","errors"]

Article not found

Senate Labor and Commerce adopts two amendments to omnibus insurance bill, reports SB132 from committee

Senate holds first hearing on SB81 to remove 22% statutory cap on PERS employer contributions; testimony warns of local cost impacts

Senate committee reports bill to create state flood-insurance program, sponsor says proposal would supplant FEMA for some communities