Juneau -- The Alaska State Legislature overrode Governor Tony Knowles' veto of Senate Bill 7 in a joint session of the Senate and House Friday. This bill allows the University of Alaska to select up to 250,000 acres of state land.

"This legislation is good for Alaskans and a great opportunity for the University," said Senator Robin Taylor (R-Wrangell), the bill's sponsor. "A similar system is used by the university system in Texas with excellent results. Their system is self-sustaining and provides additional funding to the state for K-12 education. With Alaska's resource wealth, the potential exists for the University of Alaska to someday enjoy the same success with today's approval of the land endowment."

Passage of SB 7 increases the university's 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 acres were place in trust to the Territory of Alaska for the benefit of the college. Upon statehood the trust was abolished and the land was given to the state.

Today's override vote on SB 7 grants the University 250,000 acres of land. With passage of either Congressman Don Young's or Senator Frank Murkowski's bills in Congress, the University would receive an additional 500,000 acres to select from Federally controlled lands within the state.

"Today the University has been given the means to meet its financial goals and pursue resource development on its selected land," said Taylor. The Board of Regents has consistently shown their capability for generating revenue from their land base. Though the selection process could take several years, I am certain the University will select parcels with strong income potential."

SB 7 also gives municipalities the opportunity to profit from land selections. Projects the University develops will generate local tax revenues for these communities.

Today's 41-19 vote overrides the governor's veto making the bill become law.

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