Alaska 33rd Legislature (2023-2024) Status: Passed Senate 1 D cosponsors

SB 239 — An Act relating to the Alaska Industrial Development and Export Authority; and relating to workforce housing development projects.

Last action — (H) REFERRED TO RULES

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

This bill died with 33rd Legislature (2023-2024). It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

188 added · 290 removed

Plain-language change summary

The changes in Bill SB 239 involve removing specific references to state loans for oil and gas development projects in the Cook Inlet and refocusing the bill to emphasize the Alaska Industrial Development and Export Authority's role in promoting workforce housing development projects. This shift matters because it highlights a greater commitment to addressing housing needs, which can help support economic growth and job creation in the state, particularly in light of workforce challenges. By concentrating on workforce housing, the bill aims to improve living conditions for workers, potentially attracting more businesses and residents to Alaska.

→
Previous
Latest
33-LS1072\R HOUSE CS FOR SENATE BILL NO.
33-LS1072\B SENATE BILL NO.
239(L&C) IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-THIRD LEGISLATURE - SECOND SESSION BY THE HOUSE LABOR AND COMMERCE COMMITTEE Referred:
239 IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-THIRD LEGISLATURE - SECOND SESSION BY SENATOR DUNBAR Introduced:
Rules4 Sponsor(s):
2/19/24 Referred:
SENATOR DUNBAR A BILL FOR AN ACT ENTITLED "An Act relating to the Alaska Industrial Development and Export Authority;
Labor and Commerce, Finance A BILL FOR AN ACT ENTITLED "An Act relating to the Alaska Industrial Development and Export Authority;
relating to state loans for oil and gas development projects in the Cook Inlet sedimentary basin;
AS 42.05.141 is amended by adding a new subsection to read:
(g) The commission shall, as required under AS 44.88.850(b), determine whether the sale price in a gas sales agreement for gas produced through a project partially or fully funded by a loan under AS 44.88.850 constitutes a just and reasonable immediate delivery price for gas.
* Sec.
2.
AS 44.25.020 is amended to read:
Sec.
44.25.020.
Duties of department.
The Department of Revenue shall (1) enforce the tax laws of the state;
(2) collect, account for, have custody of, invest, and manage all state funds and all revenues of the state except revenues incidental to a program of licensing SB0239b -1- HCS SB 239(L&C) New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\R and regulation carried on by another state department, funds managed and invested by the Alaska Retirement Management Board, and as otherwise provided by law;
(3) invest and manage the balance of the power development fund in accordance with AS 44.83.386;
(4) administer the surety bond program for licensure as a fish processor or primary fish buyer;
(5) provide reasonable assistance to the Alaska Industrial Development and Export Authority under AS 44.88.850(c).
* Sec.
3.
AS 44.37.020 is amended by adding a new subsection to read:
(d) The Department of Natural Resources shall provide reasonable assistance to the Alaska Industrial Development and Export Authority under AS 44.88.850(c).
* Sec.
4.
(3) fostering the expansion of exports of goods, services, and raw materials of the state;
SB0239A -1- SB 239 New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\B (3) fostering the expansion of exports of goods, services, and raw materials of the state;
(6) providing and cooperating or participating with federal, state, and private institutions to provide actual and potential state exporters, particularly small- HCS SB 239(L&C) -2- SB0239b New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\R and medium-sized exporters, with financial assistance in support of export transactions;
(6) providing and cooperating or participating with federal, state, and private institutions to provide actual and potential state exporters, particularly small- and medium-sized exporters, with financial assistance in support of export transactions;
(7) providing various means of financing and means of facilitating the financing of construction of new workforce housing facilities.
(7) providing various means of financing and means of facilitating the financing of construction of new workforce housing facilities containing five or more dwelling units.
5.
2.
the authority may also secure payment of the bonds or other indebtedness as provided in this chapter;
the authority may also secure payment of the bonds or other indebtedness as provided in this SB 239 -2- SB0239A New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\B chapter;
(10) to deposit or invest its funds, subject to agreements with SB0239b -3- HCS SB 239(L&C) New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\R bondholders;
(10) to deposit or invest its funds, subject to agreements with bondholders;
(18) to facilitate the expansion of a secondary market for the resale of federally or commercially insured loans made to finance the costs of projects in the state held by federal and state chartered financial institutions or by the Alaska Commercial Fishing and Agriculture Bank;
(18) to facilitate the expansion of a secondary market for the resale of federally or commercially insured loans made to finance the cos ts of projects in the state held by federal and state chartered financial institutions or by the Alaska SB0239A -3- SB 239 New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\B Commercial Fishing and Agriculture Bank;
HCS SB 239(L&C) -4- SB0239b New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\R (21) to provide export finance training for office staff and other individuals involved in export finance assistance, including the training sessions that may be provided by the United States Export-Import Bank or other organizations;
(21) to provide export finance training for office staff and other individuals involved in export finance assistance, including the training sessions that may be provided by the United States Export-Import Bank or other organizations;
(26) to screen potential applicants for a new business incentive grant and recommend the award of the grants under AS 45.81.020;
(26) to screen potential applicants for a new business incenve grant SB 239 -4- SB0239A New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\B and recommend the award of the grants under AS 45.81.020;
SB0239b -5- HCS SB 239(L&C) New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\R (30) with legislative approval and notwithstanding AS 44.88.060, to purchase from the Alaska Energy Authority as an investment of the revolving fund, loans of the power project fund established under AS 42.45.010;
(30) with legislative approval and notwithstanding AS 44.88.060, to purchase from the Alaska Energy Authority as an investment of the revolving fund, loans of the power project fund established under AS 42.45.010;
(33) to provide various means of financing and means of facilitating the financing of construction of new workforce housing facilities.
(33) to provide various means of financing and means of facilitating the financing of construction of new workforce housing facilities containing five or more dwelling units.
6.
3.
AS 44.88 is amended by adding new sections to read:
Article 10A.
Cook Inlet Reserve-Based Lending.
Sec.
Show all 86 changed rows (46 more)
Previous
Latest
44.88.850.
Cook Inlet reserve-based lending account.
(a) The Cook Inlet reserve-based lending account is established in the revolving fund.
The account consists of money or assets deposited into the account by the authority and contributions from other sources.
(b) The authority may use money in the account to make one or more reserve- based loans to fund oil and gas development projects the authority considers necessary to increase oil and gas production from the Cook Inlet sedimentary basin.
The authority may, as a term of the loan, accept an ownership share in the project funded by the loan.
If the authority accepts an ownership share as a term of the loan, the ownership share must be in the form of a carried interest that does not obligate the authority to contribute to the development costs of the project.
The authority may make a loan under this section only (1) to a legal entity in compliance with state and federal laws;
(2) if the loan applicant provides a written waiver permitting the authority to access or obtain copies of the loan applicant's confidential records that are in possession of the Department of Natural Resources or the Department of Revenue;
information provided to the authority under this section shall be kept confidential by the authority unless disclosure is authorized by the loan applicant or borrower;
HCS SB 239(L&C) -6- SB0239b New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\R (3) if the authority obtains an independent study performed by an experienced, qualified expert that confirms the valuation of the loan security and the capacity of the loan to support the oil and gas development project and to cause or increase the commercial production of oil or gas from the Cook Inlet sedimentary basin;
(4) if the Regulatory Commission of Alaska determines, under AS 42.05.141(g), that the sale price in a gas sales agreement for gas produced through a project partially or fully funded by a loan under this section does not exceed a just and reasonable immediate delivery price for gas;
(5) if the authority determines that the sales price for oil and gas produced through a project partially or fully funded by a loan under this section is reasonable and in the best interests of residents of the state.
(c) The authority may request assistance from the Department of Revenue under AS 44.25.020(a)(5) or the Department of Natural Resources under AS 44.37.020(d) to execute this section.
(d) The authority may accept an overriding royalty interest in a lease for which a loan has been extended under (b) of this section if, as a term of the loan, the overriding royalty interest is subject to prior approval by the Department of Natural Resources.
The authority may only have the overriding royalty interest transferred to the authority if the borrower defaults.
Sec.
44.88.855.
Cook Inlet oil and gas development projects;
report.
(a) The authority shall evaluate oil and gas development projects the authority believes have reasonable potential to increase oil and gas production from the Cook Inlet sedimentary basin.
Each year, the authority shall prepare a report related to those oil and gas development projects and shall, by the first day of each regular session of the legislature, deliver the report to the senate secretary and the chief clerk of the house of representatives and notify the legislature that the report is available.
At the request of a legislative committee, a representative of the authority shall appear in that committee to review the report.
For each oil and gas development project, the report must include (1) a cost estimate for the project;
(2) the potential recoverable gas from the project;
SB0239b -7- HCS SB 239(L&C) New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\R (3) the projected rate of return for the project;
(4) if the authority recommends a reserve-based loan for the project, the amount of funds necessary for deposit into the Cook Inlet reserve-based lending account to provide a loan for the project and the recommended source of funds for the deposit.
(b) Notwithstanding AS 44.88.215, 44.88.850(b)(2), or any other law, a borrower's information shall be subject to the public reporting requirements under this section.
Each year, the authority shall prepare a report related to Cook Inlet reserve- based loans made under AS 44.88.850 and shall, by the first day of each regular session of the legislature, deliver the report to the senate secretary and the chief clerk of the house of representatives and notify the legislature that the report is available.
At the request of a legislative committee, a representative of the authority shall appear in that committee to review the report.
The report must (1) identify each entity borrowing funds under AS 44.88.850;
(2) list the amount borrowed by each borrower and the date each loan was approved;
(3) include a summary of the terms of the lending agreement with each borrower;
(4) summarize each project for which a loan was made, including the status of the project and the volume of oil and gas produced and expected to be produced from the project;
(5) list the status of payments made on the loan, including whether the loan is or ever was in default.
* Sec.
7.
8.
4.
(13) "project" means (A) a plant or facility used or intended for use in connection with making, processing, preparing, transporting, or producing in any manner, goods, products, or substances of any kind or nature or in connection with HCS SB 239(L&C) -8- SB0239b New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\R developing or utilizing a natural resource, or extracting, smelting, transporting, converting, assembling, or producing in any manner, minerals, raw materials, chemicals, compounds, alloys, fibers, commodities and materials, products, or substances of any kind or nature;
(13) "project" means (A) a plant or facility used or intended for use in connection with making, processing, preparing, transporting, or producing in any manner, goods, products, or substances of any kind or nature or in connection with developing or utilizing a natural resource, or extracting, smelting, transporting, SB0239A -5- SB 239 New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\B converting, assembling, or producing in any manner, minerals, raw materials, chemicals, compounds, alloys, fibers, commodities and materials, products, or substances of any kind or nature;
(J) a new workforce housing facility;
(J) a new workforce housing facility containing five or more dwelling units;
9.
5.
AS 44.88.900 is amended by adding new paragraphs to read:
AS 44.88.900 is amended by adding a new paragraph to read:
(20) "oil and gas development project" means a development project to produce proven oil or gas reserves;
(20) "workforce housing" means residential housing that costs the occupants less than 30 percent of the income of a household with 120 percent of the area median family income, as determined by the United States Department of SB 239 -6- SB0239A New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\B Housing and Urban Development, for where the housing is constructed.
(21) "reserve-based loan" means a loan made against and fully secured SB0239b -9- HCS SB 239(L&C) New Text Underlined [DELETED TEXT BRACKETED] 33-LS1072\R by an oil and gas field, proven undeveloped or developed oil and gas reserves, or other assets of the entity receiving the loan.
SB0239A -7- SB 239 New Text Underlined [DELETED TEXT BRACKETED]
(22) "workforce housing" means residential housing that contains five or more dwelling units.
HCS SB 239(L&C) -10- SB0239b New Text Underlined [DELETED TEXT BRACKETED]
⬇ Download PDF
View plain text versions (2)

Action History

  1. (H) REFERRED TO RULES

  2. (H) FN1: ZERO(CED)

  3. (H) NR: CARRICK, WRIGHT, RUFFRIDGE, SUMNER

  4. (H) DNP: PRAX

  5. (H) DP: FIELDS

  6. (H) PENDING TITLE CHANGE HCR

  7. (H) L&C RPT HCS(L&C) NEW TITLE 1DP 1DNP 4NR

  8. (H) <Pending Referral> -- MEETING CANCELED --

  9. (H) RULES at 06:00 PM GRUENBERG 120

  10. (H) Moved HCS SB 239(L&C) Out of Committee -- Recessed to 10 Minutes Following Session --

  11. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  12. (H) Minutes (HL&C)

  13. (H) Heard & Held -- Delayed to 10 Minutes Following Session --

  14. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  15. (H) -- MEETING CANCELED --

  16. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  17. (H) L&C

  18. (H) READ THE FIRST TIME - REFERRALS

  19. (S) VERSION: SB 239

  20. (S) TRANSMITTED TO (H)

  21. (S) PASSED Y18 N2

  22. (S) READ THE THIRD TIME SB 239

  23. (S) ADVANCED TO THIRD READING 4/22 CAL

  24. (S) READ THE SECOND TIME

  25. (S) RULES TO CALENDAR 4/19/2024

  26. (S) FN1: ZERO(CED)

  27. (S) DP: GRAY-JACKSON, DUNBAR

  28. (S) NR: BJORKMAN, MERRICK

  29. (S) L&C RPT 2DP 2NR

  30. (S) Minutes (SL&C)

  31. (S) Moved SB 239 Out of Committee

  32. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)

  33. (S) Minutes (SL&C)

  34. (S) Heard & Held

  35. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)

  36. (S) FIN REFERRAL REMOVED

  37. (S) L&C, FIN

  38. (S) READ THE FIRST TIME - REFERRALS

Sponsors

Sponsorship breakdown

Export CSV (upgrade) →

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

Sponsors (1)

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

finance housing labor
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 239?
SB 239 is sponsored by Forrest Dunbar (D).
What is the current status of SB 239?
This bill died with 33rd Legislature (2023-2024). It reached “Passed Senate” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track SB 239?
Track SB 239 free on One Click Politics — get push/email alerts when it moves.

Make your voice heard on SB 239

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 239

Last checked for changes 3 months ago · updated continuously

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

Track this bill →