Today's Date: Add To Favorites
Alaska Supreme Court rules bonding plan is unconstitutional
Breaking Legal News | 2020/09/05 09:44
The Alaska Supreme Court on Friday rejected as unconstitutional former Gov. Bill Walker’s proposal to use bonding to pay Alaska’s oil and gas tax credit obligations. The court, in a written ruling, said the plan, which was approved by the Legislature in 2018, is “unconstitutional in its entirety.”

The bill passed by lawmakers approved the creation of a state corporation that would be empowered to sell up to $1 billion in bonds to pay off remaining tax credit obligations. The Legislature previously voted to end the tax credit program geared toward small producers and developers, saying that the program had become unaffordable.

The state constitution limits the power to incur state debt. But a 2018 legal opinion by then-Attorney General Jahna Lindemuth said the proposed bonds would not be considered state debt subject to the constitutional restraints because they would be “subject-to-appropriation” bonds and contingent upon annual legislative appropriation decisions.

Superior Court Judge Jude Pate dismissed the lawsuit brought by resident Eric Forrer, who had challenged the bonding plan. Forrer appealed.

The Alaska Supreme Court, in its decision, said subject-to-appropriation bonds are “contrary to the plain text of the Alaska Constitution and the framers' intent.”

“If the State intends to utilize financing schemes similar to HB 331 in the future, it must first seek approval from the people ? if not through a bond referendum then through a constitutional amendment,” the opinion states. HB 331 refers to the bonding bill.

Joe Geldhof, an attorney for Forrer, said “the real winner here" is Alaska's constitution and the citizens of the state who won't incur “needless debt based on a scheme.”

Gov. Mike Dunleavy's office, in a statement, said the departments of Revenue and Law are reviewing the decision to understand its impacts.


[PREV] [1] ..[399][400][401][402][403][404][405][406][407].. [8292] [NEXT]
All
Class Action
Bankruptcy
Biotech
Breaking Legal News
Business
Corporate Governance
Court Watch
Criminal Law
Health Care
Human Rights
Insurance
Intellectual Property
Labor & Employment
Law Center
Law Promo News
Legal Business
Legal Marketing
Litigation
Medical Malpractice
Mergers & Acquisitions
Political and Legal
Politics
Practice Focuses
Securities
Elite Lawyers
Tax
Featured Law Firms
Tort Reform
Venture Business News
World Business News
Law Firm News
Attorneys in the News
Events and Seminars
Environmental
Legal Careers News
Patent Law
Consumer Rights
International
Legal Spotlight
Current Cases
State Class Actions
Federal Class Actions
New Hampshire courts hear 2 ..
PA high court orders countie..
Tight US House races in Cali..
North Carolina Attorney Gene..
Republicans take Senate majo..
What to know about the unpre..
A man who threatened to kill..
Ford cuts 2024 earnings guid..
Kenya’s deputy president pl..
South Korean court acquits f..
Supreme Court grapples with ..
Supreme Court leaves in plac..
Kentucky sheriff accused of ..
New rules regarding election..
North Carolina appeals court..


Class action or a representative action is a form of lawsuit in which a large group of people collectively bring a claim to court and/or in which a class of defendants is being sued. This form of collective lawsuit originated in the United States and is still predominantly a U.S. phenomenon, at least the U.S. variant of it. In the United States federal courts, class actions are governed by Federal Rules of Civil Procedure Rule. Since 1938, many states have adopted rules similar to the FRCP. However, some states like California have civil procedure systems which deviate significantly from the federal rules; the California Codes provide for four separate types of class actions. As a result, there are two separate treatises devoted solely to the complex topic of California class actions. Some states, such as Virginia, do not provide for any class actions, while others, such as New York, limit the types of claims that may be brought as class actions. They can construct your law firm a brand new website, lawyer website templates and help you redesign your existing law firm site to secure your place in the internet.
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Legal Document Services in Los Angeles, CA
Best Legal Document Preparation
www.tllsg.com
Car Accident Lawyers
Sunnyvale, CA Personal Injury Attorney
www.esrajunglaw.com
East Greenwich Family Law Attorney
Divorce Lawyer - Erica S. Janton
www.jantonfamilylaw.com/about
St. Louis Missouri Criminal Defense Lawyer
St. Charles DUI Attorney
www.lynchlawonline.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
  Law Firm Directory
 
 
 
© ClassActionTimes.com. All rights reserved.

The content contained on the web site has been prepared by Class Action Times as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. Affordable Law Firm Web Design