Juneau -- The House passed an amended version of Senate Bill 7, today which allows the University of Alaska to select up to 250,000 acres of state land. The bill sponsored by Senator Robin Taylor last session has been revised to meet a number of concerns on access and timber harvests. Taylor says he's glad the bill will be returning to the Senate for concurrence and does not feel there will be any problems sending it to the Governor.

"This is great news for the University and all Alaskans," says Taylor. "The University system in Texas has always been a land grant college. Today that system is self-sustaining and even provides funding to the state for K-12 education. There is potential for the University of Alaska to someday use this land endowment in much the same way."

Passage of Senate Bill 7 will increase its land holding by seven times. In 1907 federal law established that certain land would be transferred to what was then the Alaska Agricultural College and School of Mines. Those 112,000 lands were placed in a trust to the Territory of Alaska for the benefit of the college. Upon statehood the trust was abolished, giving that land to the state. Approval of the 250,000 acres in SB 7 and passage of either Congressman Don Young's or Senator Frank Murkowski's bills in Congress will add 500,000 acres selected from the federal domain.

Taylor says, " this legislation will help the University meet its financial goals and get land into a resource development mode. The Board of Regents has consistently shown their ability to generate revenue from their land base. While the selection process will take several years I am sure the University will select parcels with strong income potential."

The bill will give municipalities an opportunity to profit from land selections as well. Development projects that the University promotes will generate local value tax revenue for municipalities.

Senate Bill 7 now returns to the Senate for concurrence and then to the Governor's desk for his signature.

Note to Editors: Congressional legislation is S 744 & HR 2958

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