Alaska 32nd Legislature (2021-2022) Status: Enacted

SB 243 — An Act relating to the power cost equalization endowment fund; relating to power cost equalization; and providing for an effective date.

Last action — (H) FN1: (CED)

Track this bill free

No card. One bill, free forever — alerts when it moves.

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced April 19, 2022. Enacted.

Prognosis

Likely to advance 70% · moderate confidence

Where this bill stands today.

Odds of enactment

High

How often bills like it became law.

  • Enacted

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 2 recorded votes so far.

Prognosis reads this bill's own signals — stage, sponsorship breadth, committee status, recorded votes and cross-state momentum. Odds come from a model trained on which bills have become law.

Bill Text

What changed in the latest version

45 added · 24 removed

Plain-language change summary

The revised bill SB 243 now includes specific changes regarding how the power cost equalization endowment fund is managed by the commissioner of revenue. Notably, the bill has added a requirement that the commissioner must apply a "prudent-investor rule" when making investments, ensuring that they exercise careful and sensible judgment in managing the fund. Additionally, eligibility criteria for electric utilities to receive power cost equalization payments were expanded to include a higher limit on monthly power consumption for residential customers, increasing from 500 to 750 kilowatt-hours. These changes are significant because they aim to strengthen the fund's management and provide more support to residential customers facing high power costs.

→
Previous
Latest
32-LS1573\B SENATE BILL NO.
LAWS OF ALASKA Source Chapter No.
243 IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-SECOND LEGISLATURE - SECOND SESSION BY THE SENATE FINANCE COMMITTEE Introduced:
CSSB 243(FIN) _______ AN ACT Relating to the power cost equalization endowment fund;
4/19/22 Referred:
relating to power cost equalization;
Finance A BILL FOR AN ACT ENTITLED "An Act relating to power cost equalization;
and providing for an effective date.
and providing for an effective date." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
_______________ BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
* Section 1.
THE ACT FOLLOWS ON PAGE 1 Enrolled SB 243 AN ACT Relating to the power cost equalization endowment fund;
relating to power cost equalization;
and providing for an effective date.
_______________ * Section 1.
AS 42.45.080(a) is amended to read:
(a) The commissioner of revenue is the fiduciary of the fund.
In managing the fund, the commissioner shall (1) have the same powers and duties as are provided in AS 37.10.071;
and (2) apply the prudent-investor rule when investing [INVEST] the fund;
the "prudent-investor rule" as applied to investment activity of the fund means exercising the judgment and care under the circumstances then prevailing that an institutional investor of ordinary prudence, discretion, and intelligence exercises in the designation and management of large investments entrusted to it, not in regard to speculation, but in regard to the permanent disposition of funds, -1- Enrolled SB 243 considering preservation of the purchasing power of the fund over time while maximizing the expected total return from both income and the appreciation of capital [IN A MANNER LIKELY TO ACHIEVE AT LEAST A FOUR PERCENT NOMINAL RETURN OVER A FIVE-YEAR PERIOD TO MEET THE OBJECTIVES OF THE POWER COST EQUALIZATION AND RURAL ELECTRIC CAPITALIZATION FUND (AS 42.45.100)].
* Sec.
2.
2.
3.
SB0243A -1- SB 243 New Text Underlined [DELETED TEXT BRACKETED]
Enrolled SB 243 -2-
⬇ Download PDF
View plain text versions (3)

Action History

  1. (H) FN1: (CED)

  2. (H) FN(S) ATTACHED TO APPROP. BILL HB 281

  3. (H) LEG FINANCE APPROPRIATION MESSAGE 8/10/22

  4. (S) LEG FINANCE APPROPRIATION MESSAGE 8/10/22

  5. (S) EFFECTIVE DATE(S) OF LAW 7/16/22

  6. (S) Signed into law 7/15 CHAPTER 39 SLA 22

  7. (S) 1:10 P.M. 7/1/22 Transmitted to Governor

  8. (H) VERSION: CSSB 243(FIN)

  9. (H) RETURN TO (S), TRANSMIT TO GOV NEXT

  10. (H) EFFECTIVE DATE(S) SAME AS PASSAGE

  11. (H) PASSED Y38 N2

  12. (H) READ THE THIRD TIME CSSB 243(FIN)

  13. (H) ADVANCED TO THIRD READING 5/16 CALENDAR

  14. (H) READ THE SECOND TIME

  15. (H) RULES TO CALENDAR 5/15/2022

  16. (H) FN1: (CED)

  17. (H) NR: LEBON, THOMPSON, WOOL, RASMUSSEN, MERRICK

  18. (H) DP: ORTIZ, EDGMON, CARPENTER, JOSEPHSON, FOSTER

  19. (H) FIN RPT 5DP 5NR

  20. (H) Moved CSSB 243(FIN) Out of Committee

  21. (H) FINANCE at 01:30 PM ADAMS 519

  22. (H) -- MEETING CANCELED --

  23. (H) FINANCE at 09:00 AM ADAMS 519

  24. (H) Minutes (HFIN)

  25. (H) Heard & Held

  26. (H) FINANCE at 01:30 PM ADAMS 519

  27. (H) FIN

  28. (H) READ THE FIRST TIME - REFERRALS

  29. (S) VERSION: CSSB 243(FIN)

  30. (S) TRANSMITTED TO (H)

  31. (S) EFFECTIVE DATE(S) SAME AS PASSAGE

  32. (S) PASSED Y18 N1 E1

  33. (S) READ THE THIRD TIME CSSB 243(FIN)

  34. (S) ADVANCED TO THIRD READING UC

  35. (S) FIN CS ADOPTED UC

  36. (S) READ THE SECOND TIME

  37. (S) RULES TO CALENDAR 5/3/2022

  38. (S) Minutes (SFIN)

  39. (S) Moved CSSB 243(FIN) Out of Committee

  40. (S) FINANCE at 09:00 AM SENATE FINANCE 532

  41. (S) FN1: (CED)

  42. (S) AM: WILSON

  43. (S) DP: STEDMAN, BISHOP, HOFFMAN, WIELECHOWSKI, OLSON, VON IMHOF

  44. (S) FIN RPT CS 6DP 1AM NEW TITLE

  45. (S) Minutes (SFIN)

  46. (S) Heard & Held

  47. (S) FINANCE at 09:00 AM SENATE FINANCE 532

  48. (S) FIN

  49. (S) READ THE FIRST TIME - REFERRALS

Sponsors

  • SENATE FINANCE · Primary

Sponsorship breakdown

Export CSV (upgrade) →

1 sponsors · 0 co-sponsors · 64 not signed on

Sponsors (1)

  • SENATE FINANCE

Co-sponsors (0)

None.

Not signed on (64)

64 members have not signed on to this bill.

Show all 64 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Subjects

energy
Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 243?
SB 243 is sponsored by SENATE FINANCE.
What is the current status of SB 243?
This bill has been enacted into law. Introduced April 19, 2022. Enacted.
Where can I track SB 243?
Track SB 243 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on SB 243

Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.

Find my representatives → Run a campaign

Stay ahead of SB 243

Last checked for changes 3 months ago · updated continuously

One Click Politics tracks every bill in Congress and all 50 states.

Track this bill →