HB0124a -1- HB 124
New Text Underlined [DELETED TEXT BRACKETED]
34-LS0411\A
HOUSE BILL NO. 124
IN THE LEGISLATURE OF THE STATE OF ALASKA
THIRTY-FOURTH LEGISLATURE - FIRST SESSION
BY REPRESENTATIVE CARRICK
Introduced: 3/5/25
Referred: State Affairs, Finance
A BILL
FOR AN ACT ENTITLED
"An Act relating to the Alaska Industrial Development and Export Authority; and 1
providing for an effective date." 2
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 3
* Section 1. The uncodified law of the State of Alaska is amended by adding a new section 4
to read: 5
SHORT TITLE. This Act may be known as the AIDEA Accountability Act. 6
* Sec. 2. AS 44.88.030(a) is amended to read: 7
(a) The membership of the authority consists of 8
(1) the commissioner of revenue and the commissioner of commerce, 9
community, and economic development; [AND] 10
(2) four [FIVE] public members appointed by the governor and
11
confirmed by a majority of the members of the legislature in joint session, each of 12
whom has expertise in private sector business or industry, or both, and possesses 13
demonstrated leadership skills; 14 34-LS0411\A
HB 124 -2- HB0124a
New Text Underlined [DELETED TEXT BRACKETED]
(3) one public member, appointed by the governor and confirmed 1
by a majority of the members of the legislature in joint session, who represents 2
an environmental advocacy organization; 3
(4) one public member, appointed by the president of the senate, 4
who is a former legislator or meets the qualifications in (2) or (3) of this 5
subsection; and 6
(5) one public member, appointed by the speaker of the house of 7
representatives, who is a former legislator or meets the qualifications in (2) or (3) 8
of this subsection. 9
* Sec. 3. AS 44.88.030(c) is amended to read: 10
(c) Public members of the authority described in (a)(2) - (5) [(a)(2)] of this 11
section serve staggered three-year [AT THE PLEASURE OF THE GOVERNOR 12
FOR TWO-YEAR] terms. 13
* Sec. 4. AS 44.88.050(c) is amended to read: 14
(c) The authority may appoint persons as officers it considers advisable, 15
including an executive director, and may employ professional advisors, counsel, 16
technical experts, agents, and other employees it considers advisable. The executive 17
director and employees of the authority are in the exempt service under AS 39.25. The 18
authority shall adopt regulations or bylaws establishing a personnel policy, 19
including minimum qualifications for the executive director. 20
* Sec. 5. AS 44.88.080(1) is amended to read: 21
(1) subject to AS 44.88.225, to sue and be sued; 22
* Sec. 6. AS 44.88.085(b) is amended to read: 23
(b) The authority may adopt regulations [UNDER THIS SECTION BY 24
MOTION OR] by resolution [OR IN ANY OTHER MANNER PERMITTED BY I TS 25
BYLAWS]. 26
* Sec. 7. AS 44.88.085(d) is amended to read: 27
(d) Except as provided in (e) of this section, at least 30 [15] days before the 28
adoption, amendment, or repeal of a regulation, the authority shall give public notice 29
of the proposed action by publishing the notice in at least three newspapers of general 30
circulation in the state and by mailing a copy of the notice to every person who has 31 34-LS0411\A
HB0124a -3- HB 124
New Text Underlined [DELETED TEXT BRACKETED]
filed a request for notice of proposed regulations with the authority. The public notice 1
must include a statement of the time, place, and nature of the proceedings for the 2
adoption, amendment, or repeal of the regulation and must include an informative 3
summary of the subject of the proposed action. On the date and at the time and place 4
designated in the notice, the authority shall give each interested person or an 5
authorized representative of the person, or both, the opportunity to present statements, 6
arguments, or contentions orally or in writing and shall give each member 7
[MEMBERS] of the public an opportunity to present oral statements, arguments, or 8
contentions for not less than two minutes [A TOTAL PERIOD OF AT LEAST ONE 9
HOUR]. The authority shall consider all relevant matter presented to it before taking 10
the proposed action on the regulation, and shall publish written responses to public 11
comments. At a hearing under this subsection, the authority may continue or postpone 12
the hearing to a time and place determined by the authority and announced at the 13
hearing before taking the action to continue or postpone the hearing. The authority 14
shall publish written justification when adopting, amending, or repealing a 15
regulation. A regulation adopted, amended, or repealed by the authority may vary 16
from the informative summary specified in this subsection if the subject matter of the 17
action taken on the regulation remains the same and if the original notice of the 18
proposed action was written so as to assure that members of the public are reasonably 19
notified of the subject matter of the proposed action in order for them to determine 20
whether their interests could be affected by the authority's proposed action on that 21
subject. 22
* Sec. 8. AS 44.88 is amended by adding a new section to read: 23
Sec. 44.88.107. Limit on value of funds and accounts. The aggregate value 24
of all funds and accounts in the authority may not exceed $500,000,000. On June 30 of 25
each fiscal year, the amount of unexpended and unobligated money required to reduce 26
the aggregate value of all funds and accounts in the authority to $500,000,000 lapses 27
into the general fund. Money that lapses under this section is not payment of a 28
dividend under AS 44.88.088. 29
* Sec. 9. AS 44.88 is amended by adding a new section to read: 30
Sec. 44.88.179. Project oversight. Before agreeing to expend more than 31 34-LS0411\A
HB 124 -4- HB0124a
New Text Underlined [DELETED TEXT BRACKETED]
$10,000,000 on a project, the authority shall 1
(1) unless the project is to be located in the unorganized borough, 2
obtain a certified copy of a resolution of the governing body of the political 3
subdivision of the state, if any, in which the project is to be located, consenting to the 4
location of the project; the consent need only refer to the general nature of the project; 5
(2) find, based on all information reasonably available to it, that 6
(A) the project and its development under this chapter will be 7
economically advantageous to the state and the general public welfare and will 8
contribute to the economic growth of the state; 9
(B) the project applicant, if any, is financially responsible; 10
(C) provisions to meet increased demand on public facilities 11
that might result from the project are reasonably assured; 12
(D) the project will provide or retain employment reasonably 13
related to the amount of the financing by the authority, if any, considering the 14
amount of investment for each employee for comparable facilities and other 15
relevant factors; 16
(E) the project is economically and financially feasible and able 17
to produce revenue adequate to repay the bonds or loans, if any, with which it 18
is financed; and 19
(F) the project complies with applicable law; 20
(3) compile and make available to the public a document that 21
summarizes the projected economic, social, and environmental effects of the project; 22
and, in conjunction with the Department of Fish and Game, the Department of Natural 23
Resources, the Department of Environmental Conservation, and the Department of 24
Labor and Workforce Development, the authority shall conduct a public hearing on 25
the projected effects of the project; 26
(4) submit a report that includes the documents and findings required 27
under (1) - (3) of this section to the senate secretary and the chief clerk of the house of 28
representatives and notify the legislature that the report is available; and 29
(5) obtain legislative approval by law. 30
* Sec. 10. AS 44.88.180(a) is amended to read: 31 34-LS0411\A
HB0124a -5- HB 124
New Text Underlined [DELETED TEXT BRACKETED]
(a) A member of the authority may not vote on a resolution of the authority 1
relating to a lease or contract to be entered into by the authority under this chapter if 2
the member is a party to the lease or contract or has a direct or indirect ownership or 3
equity interest in a firm, partnership, corporation, or association that may be a party to 4
the contract or lease. A resolution of the authority that is approved by a majority of the 5
members who are not barred from voting under this subsection is a valid action of the 6
authority for all purposes. 7
* Sec. 11. AS 44.88.205(b) is amended to read: 8
(b) To further ensure effective budgetary decision making by the legislature, 9
the authority shall 10
(1) annually review the authority's assets to determine whether assets 11
of the authority exceed an amount required to fulfill the purposes of the authority as 12
defined in this chapter; in making its review, the authority shall determine whether, 13
and to what extent, assets in excess of the amount required to fulfill the purposes of 14
the authority during at least the next fiscal year are available without 15
(A) breaching any agreement entered into by the authority; 16
(B) materially impairing the operations or financial integrity of 17
the authority; or 18
(C) materially affecting the ability of the authority to fulfill the 19
authority's purposes set out in AS 44.88.070; and 20
(2) by January 10 of each year, make available to the legislature [BY 21
JANUARY 10 OF EACH YEAR] a complete accounting of all assets of the authority 22
and a report of the review and determination made under (1) of this subsection, 23
submit the accounting and report to the senate secretary and the chief clerk of 24
the house of representatives, and notify the legislature that the accounting and 25
report are available; the accounting shall be audited by the auditor who conducts the 26
audit required by AS 44.88.200 and must include a full description of all loan interest 27
and principal payments and program receipts, including 28
(A) loan commitment fees received by or accrued to the 29
authority during the preceding fiscal year; and 30
(B) all income earned on assets of the authority during that 31 34-LS0411\A
HB 124 -6- HB0124a
New Text Underlined [DELETED TEXT BRACKETED]
period. 1
* Sec. 12. AS 44.88.210(a) is amended to read: 2
(a) By January 10 of each year, the authority shall publish a report for 3
distribution to the governor, the legislature, and the public, submit the report to the 4
senate secretary and the chief clerk of the house of representatives, and [. THE 5
AUTHORITY SHALL] notify the legislature that the report is available. The 6
authority shall develop performance metrics to evaluate, and the report must 7
include analysis of, the effect of the authority's activities on job creation, 8
supported industry growth, financial and technical assistance provided to state 9
businesses, and private investment increases. The report shall be written in easily 10
understandable language. The report must include a financial statement audited by an 11
independent outside auditor, the findings from the authority's annual audit, a 12
statement of the authority's investments under this chapter, including an appraisal of 13
the investments at market value, a comparison of the authority's performance with the 14
goals of the authority and the levels of bonding and investment activities anticipated in 15
the previous year's report under (b) of this section, a list of all actions taken at each 16
meeting of the authority since the previous year's annual report, and any other 17
information the members of the authority believe would be of interest to the governor, 18
the legislature, and the public. The annual income statement and balance sheet of the 19
authority shall be published in at least one newspaper in each judicial district. The 20
authority may also publish other reports it considers desirable to carry out its purpose. 21
* Sec. 13. AS 44.88.215 is repealed and reenacted to read: 22
Sec. 44.88.215. Records and information; public records. (a) The records or 23
information submitted to the authority are public records under AS 40.25.110 - 24
40.25.220. 25
(b) Before accepting submission of records or information, the authority shall 26
require a written waiver acknowledging that the submission is a public record under 27
AS 40.25.110 - 40.25.220. 28
* Sec. 14. AS 44.88 is amended by adding a new section to read: 29
Sec. 44.88.225. Attorney general lawsuit approval. (a) The authority shall 30
obtain approval in writing from the attorney general before filing a lawsuit. 31 34-LS0411\A
HB0124a -7- HB 124
New Text Underlined [DELETED TEXT BRACKETED]
(b) If the attorney general approves a lawsuit, the attorney general shall notify 1
the senate secretary and the chief clerk of the house of representatives of the approval 2
in writing. The notification must describe the lawsuit and explain the reasons for the 3
approval. 4
(c) This section does not require approval from the attorney general for the 5
authority to respond to a lawsuit filed against the authority. 6
* Sec. 15. AS 44.88.380 is repealed. 7
* Sec. 16. The uncodified law of the State of Alaska is amended by adding a new section to 8
read: 9
MEMBERS OF THE ALASKA INDUSTRIAL DEVELOPMENT AND EXPORT 10
AUTHORITY: TRANSITION. (a) The terms of the members of the Alaska Industrial 11
Development and Export Authority, other than the commissioner of revenue and the 12
commissioner of commerce, community, and economic development, expire on the date the 13
legislature has confirmed at least two members appointed by the governor under (b) of this 14
section. 15
(b) Notwithstanding AS 44.88.030(c), as amended by sec. 3 of this Act, members of 16
the Alaska Industrial Development and Export Authority appointed by the governor under 17
AS 44.88.030(a), as amended by sec. 2 of this Act, are appointed by the governor to initial 18
terms as follows: 19
(1) two members for one year; 20
(2) two members for two years; 21
(3) one member for three years. 22
(c) The president of the senate and the speaker of the house of representatives shall 23
appoint public members of the Alaska Industrial Development and Export Authority under 24
AS 44.88.030(a), as amended by sec. 2 of this Act, on or before the 30th day of the First 25
Regular Session of the Thirty-Fifth Alaska State Legislature. 26
(d) Nothing in this section prevents the appointment of a person whose term expires 27
under (a) of this section as a member of the Alaska Industrial Development and Export 28
Authority if the person meets the qualifications under AS 44.88.030, as amended by secs. 2 29
and 3 of this Act. 30
* Sec. 17. This Act takes effect January 1, 2027. 31