Alaska 34th Alaska State Legislature Status: In Committee 2 D cosponsors

HB 124 — An Act relating to the Alaska Industrial Development and Export Authority; and providing for an effective date.

Last action — (H) MOTION TO REFER TO JUDICIARY, UR 39(B) FAILED Y19 N20 E1

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

This bill is in committee in the House. Introduced March 05, 2025. It must pass committee before a floor vote.

Next likely step: a committee vote, then a floor vote in the House.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Stalled 6% · moderate confidence

  • In Committee

    Current position in the legislative process.

  • 2 sponsors

    1 primary, 1 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (2 D).

  • Failed a recorded vote

    Failed 1 recorded vote so far — a real headwind.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

208 added · 267 removed

Plain-language change summary

In the latest version of House Bill 124, the number of public members appointed by the governor has been reduced from five to four. This change simplifies the board's structure, which may lead to more efficient decision-making. Additionally, the terms for public members have been changed from two-year terms at the governor's discretion to staggered three-year terms, which ensures longer continuity and stability within the board. These amendments aim to create a more effective governance framework for the authority involved.

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34-LS0411\I CS FOR HOUSE BILL NO.
34-LS0411\A HOUSE BILL NO.
124(STA) IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-FOURTH LEGISLATURE - SECOND SESSION BY THE HOUSE STATE AFFAIRS COMMITTEE Referred:
124 IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-FOURTH LEGISLATURE - SECOND SESSION BY REPRESENTATIVES CARRICK, Mina Introduced:
Finance Sponsor(s):
3/5/25 Referred:
REPRESENTATIVES CARRICK, Mina A BILL FOR AN ACT ENTITLED "An Act relating to the Alaska Industrial Development and Export Authority;
State Affairs, Finance A BILL FOR AN ACT ENTITLED "An Act relating to the Alaska Industrial Development and Export Authority;
[AND] (2) five public members appointed by the governor and confirmed by a majority of the members of the legislature in joint session, each of whom has expertise in private sector business or industry, or both, and possesses demonstrated leadership skills;
[AND] (2) four [FIVE] public members appointed by the governor and confirmed by a majority of the members of the legislature in joint session, each of whom has expertise in private sector business or industry, or both, and possesses demonstrated leadership skills;
HB0124b -1- CSHB 124(STA) New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\I (3) one public member, appointed by the president of the senate, who is a former legislator or meets the qualifications in (2) of this subsection;
HB0124a -1- HB 124 New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\A (3) one public member, appointed by the governor and confirmed by a majority of the members of the legislature in joint session, who represents an environmental advocacy organization;
and (4) one public member, appointed by the speaker of the house of representatives, who is a former legislator or meets the qualifications in (2) of this subsection.
(4) one public member, appointed by the president of the senate, who is a former legislator or meets the qualifications in (2) or (3) of this subsection;
and (5) one public member, appointed by the speaker of the house of representatives, who is a former legislator or meets the qualifications in (2) or (3) of this subsection.
(c) Public members of the authority described in (a)(2) - (4) [(a)(2)] of this section serve staggered three-year [AT THE PLEASURE OF THE GOVERNOR FOR TWO-YEAR] terms.
(c) Public members of the authority described in (a)(2) - (5) [(a)(2)] of this section serve staggered three-year [AT THE PLEASURE OF THE GOVERNOR FOR TWO-YEAR] terms.
AS 44.88.080(1) is amended to read:
(1) subject to AS 44.88.225, to sue and be sued;
* Sec.
6.
6.
7.
(d) Except as provided in (e) of this section, at least 30 [15] days before the adoption, amendment, or repeal of a regulation, the authority shall give public notice of the proposed action by publishing the notice in at least three newspapers of general circulation in the state and by mailing a copy of the notice to every person who has filed a request for notice of proposed regulations with the authority.
(d) Except as provided in (e) of this section, at least 30 [15] days before the adoption, amendment, or repeal of a regulation, the authority shall give public notice of the proposed action by publishing the notice in at least three newspapers of general circulation in the state and by mailing a copy of the notice to every person who has HB 124 -2- HB0124a New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\A filed a request for notice of proposed regulations with the authority.
On the date and at the time and place designated in the notice, the authority shall give each interested person or an authorized representative of the person, or both, the opportunity to present statements, CSHB 124(STA) -2- HB0124b New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\I arguments, or contentions orally or in writing and shall give each member [MEMBERS] of the public an opportunity to present oral statements, arguments, or contentions for not less than two minutes or, if a shorter time allotment is necessary to allow all members of the public to present, not less than one minute [A TOTAL PERIOD OF AT LEAST ONE HOUR].
On the date and at the time and place designated in the notice, the authority shall give each interested person or an authorized representative of the person, or both, the opportunity to present statements, arguments, or contentions orally or in writing and shall give each member [MEMBERS] of the public an opportunity to present oral statements, arguments, or contentions for not less than two minutes [A TOTAL PERIOD OF AT LEAST ONE HOUR].
The authority shall consider all relevant matter presented to it before taking the proposed action on the regulation, and shall publish all public comments received in writing, with personal contact information redacted, on the authority's public Internet website.
The authority shall consider all relevant matter presented to it before taking the proposed action on the regulation, and shall publish written responses to public comments.
The authority shall publish written justification on the authority's public Internet website when adopting, amending, or repealing a regulation.
The authority shall publish written justification when adopting, amending, or repealing a regulation.
7.
8.
44.88.107.
Limit on value of funds and accounts.
The aggregate value of all funds and accounts in the authority may not exceed $500,000,000.
On June 30 of each fiscal year, the amount of unexpended and unobligated money required to reduce the aggregate value of all funds and accounts in the authority to $500,000,000 lapses into the general fund.
Money that lapses under this section is not payment of a dividend under AS 44.88.088.
* Sec.
9.
AS 44.88 is amended by adding a new section to read:
Sec.
Before agreeing to expend more than $100,000,000 on a project, adjusted annually for inflation on July 1 of each year based on the percentage increase in the Consumer Price Index for all urban consumers for urban Alaska during the previous calendar year, as determined by the United States Department of Labor, Bureau of Labor Statistics, the authority shall (1) find, based on all information reasonably available to it, that (A) the project and its development under this chapter will be economically advantageous to the state and the general public welfare and will contribute to the economic growth of the state;
Before agreeing to expend more than HB0124a -3- HB 124 New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\A $10,000,000 on a project, the authority shall (1) unless the project is to be located in the unorganized borough, obtain a certified copy of a resolution of the governing body of the political subdivision of the state, if any, in which the project is to be located, consenting to the location of the project;
the consent need only refer to the general nature of the project;
(2) find, based on all information reasonably available to it, that (A) the project and its development under this chapter will be economically advantageous to the state and the general public welfare and will contribute to the economic growth of the state;
(C) provisions to meet increased demand on public facilities HB0124b -3- CSHB 124(STA) New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\I that might result from the project are reasonably assured;
(C) provisions to meet increased demand on public facilities that might result from the project are reasonably assured;
(2) compile and make available to the public a document that summarizes the projected economic, social, and environmental effects of the project;
(3) compile and make available to the public a document that summarizes the projected economic, social, and environmental effects of the project;
(3) obtain an independent feasibility study of the project from a contractor approved by the Legislative Budget and Audit Committee;
and (5) obtain approval of the Legislative Budget and Audit Committee.
and (5) obtain legislative approval by law.
8.
10.
(a) A member of the authority may not vote on a resolution of the authority relating to a lease or contract to be entered into by the authority under this chapter if the member is a party to the lease or contract or has a direct or indirect ownership interest or equity interest in, or receives an economic benefit from, a firm, partnership, corporation, or association that may be a party to the contract or lease.
HB 124 -4- HB0124a New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\A (a) A member of the authority may not vote on a resolution of the authority relating to a lease or contract to be entered into by the authority under this chapter if the member is a party to the lease or contract or has a direct or indirect ownership or equity interest in a firm, partnership, corporation, or association that may be a party to the contract or lease.
An interest is indirect under this subsection if the interest is held on behalf of the member through an intermediary, trust, or other arrangement, if the member receives a financial benefit from the interest, if the member exercises control of the interest through another individual or entity, or if the interest is held by an CSHB 124(STA) -4- HB0124b New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\I immediate family member.
9.
11.
AS 44.88.190(b) is amended to read:
AS 44.88.205(b) is amended to read:
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(b) The funds, income, or receipts of the authority may not be considered or constitute money of the state except as provided in AS 44.88.205(c), nor may real property in which the authority has an interest be considered land owned in fee by the state or to which the state may become entitled or in any way land belonging to the state, or state land referred to in art.
VIII of the Alaska Constitution.
* Sec.
10.
AS 44.88.205 is amended to read:
Sec.
44.88.205.
Compliance with executive budget act;
authority finances.
(a) The [OPERATING BUDGET OF THE] authority is subject to AS 37.07 (Executive Budget Act).
the accounting shall be audited by the auditor who conducts the HB0124b -5- CSHB 124(STA) New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\I audit required by AS 44.88.200 and must include a full description of all loan interest and principal payments and program receipts, including (A) loan commitment fees received by or accrued to the authority during the preceding fiscal year;
the accounting shall be audited by the auditor who conducts the audit required by AS 44.88.200 and must include a full description of all loan interest and principal payments and program receipts, including (A) loan commitment fees received by or accrued to the authority during the preceding fiscal year;
and (B) all income earned on assets of the authority during that period.
and (B) all income earned on assets of the authority during that HB0124a -5- HB 124 New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\A period.
11.
AS 44.88.205 is amended by adding a new subsection to read:
(c) The legislature may appropriate the income of the authority, including loan interest payments, loan commitment fees, and income earned on assets of the authority, as follows:
(1) 20 percent to the authority for the purposes described in this chapter;
and (2) 80 percent for other purposes the legislature considers appropriate.
* Sec.
The annual income statement and balance sheet of the CSHB 124(STA) -6- HB0124b New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\I authority shall be published in at least one newspaper in each judicial district.
The annual income statement and balance sheet of the authority shall be published in at least one newspaper in each judicial district.
Records and information.
Records and information;
(a) Except as provided under (b) of this section, information in the possession of the authority is public and open to public inspection at reasonable times.
public records.
(b) The authority may by regulation designate and withhold public disclosure of matters of a privileged or proprietary nature.
(a) The records or information submitted to the authority are public records under AS 40.25.110 - 40.25.220.
Those matters include personnel records, communications with and work product of legal counsel, and proprietary information relating to investment decisions.
(b) Before accepting submission of records or information, the authority shall require a written waiver acknowledging that the submission is a public record under AS 40.25.110 - 40.25.220.
(c) If a legislator has a valid legislative purpose for reviewing information in possession of the authority and agrees to maintain confidentiality of the information, the authority may not prevent a legislator from reviewing the information even if the information is withheld from public disclosure under (b) of this section.
AS 44.88.600 is amended to read:
AS 44.88 is amended by adding a new section to read:
44.88.600.
44.88.225.
Rural development initiative fund.
Attorney general lawsuit approval.
The rural development initiative fund is created in the authority outside of the revolving fund.
(a) The authority shall obtain approval in writing from the attorney general before filing a lawsuit.
The rural development initiative fund is a fund for the uses and purposes of AS 44.88.600 - 44.88.620.
HB 124 -6- HB0124a New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\A (b) If the attorney general approves a lawsuit, the attorney general shall notify the senate secretary and the chief clerk of the house of representatives of the approval in writing.
The rural development initiative fund consists of money or assets appropriated or transferred to the authority for the purposes of this section [,] and [OF] loan repayments [, INTEREST, OR OTHER INCOME EARNED ON LOANS OR INVESTMENTS OF THE FUND].
The notification must describe the lawsuit and explain the reasons for the approval.
In addition, the authority may deposit other assets into the fund if the total value of those deposits does not exceed $2,000,000.
(c) This section does not require approval from the attorney general for the authority to respond to a lawsuit filed against the authority.
The authority, in its discretion, may transfer money or other assets from the rural development initiative fund to the revolving fund.
AS 44.88.660 is amended to read:
AS 44.88.380 is repealed.
Sec.
44.88.660.
Alaska Industrial Development and Export Authority sustainable energy transmission and supply development fund.
The Alaska Industrial Development and Export Authority sustainable energy transmission and supply development fund is established in the authority.
The development fund consists of appropriations made to the development fund by the legislature, money or HB0124b -7- CSHB 124(STA) New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\I other assets transferred to the development fund by a vote of the members of the authority under AS 44.88.050 from any other fund controlled by the authority, and unrestricted loan repayments [, INTEREST, OR OTHER INCOME EARNED ON LOANS, INVESTMENTS, OR ASSETS OF THE DEVELOPMENT FUND].
The development fund is not an account in the revolving fund established in AS 44.88.060, and the authority shall account for the development fund separately from the revolving fund.
The authority may create additional accounts in the development fund.
Subject to agreements made with the holders of the authority's bonds or with other persons, the authority may transfer amounts in an account in the development fund to another account in the development fund.
Amounts deposited in the development fund may be pledged to the payment of bonds of the authority or expended for the purposes of AS 44.88.650 - 44.88.690.
The authority has the powers and responsibilities established in AS 37.10.071 with respect to the investment of amounts held in the development fund.
AS 44.88.810 is amended to read:
Sec.
44.88.810.
Arctic infrastructure development fund.
The Arctic infrastructure development fund is established in the authority.
The fund consists of appropriations made to the fund by the legislature, money or other assets transferred to the fund by a majority vote of the members of the authority under AS 44.88.050 from any other fund controlled by the authority, and unrestricted loan repayments [, INTEREST, OR OTHER INCOME EARNED ON LOANS, INVESTMENTS, OR ASSETS OF THE FUND].
The fund is not an account in the revolving fund established in AS 44.88.060, and the authority shall account for the fund separately from the revolving fund.
The authority may create additional accounts in the fund.
Subject to agreements made with the holders of the authority's bonds or with other persons, the authority may transfer amounts in an account in the fund to another account in the fund.
Amounts deposited in the fund may be pledged to the payment of bonds of the authority or expended for the purposes of AS 44.88.800 - 44.88.840.
The authority has the powers and responsibilities established in AS 37.10.071 with respect to the investment of amounts held in the fund.
* Sec.
17.
AS 44.88.088 is repealed.
CSHB 124(STA) -8- HB0124b New Text Underlined [DELETED TEXT BRACKETED] 34-LS0411\I * Sec.
18.
19.
17.
HB0124b -9- CSHB 124(STA) New Text Underlined [DELETED TEXT BRACKETED]
HB0124a -7- HB 124 New Text Underlined [DELETED TEXT BRACKETED]
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Action History

  1. (H) MOTION TO REFER TO JUDICIARY, UR 39(B) FAILED Y19 N20 E1

  2. (H) REFERRED TO FINANCE

  3. (H) FN1: (CED)

  4. (H) AM: STORY

  5. (H) DNP: VANCE, MCCABE, ST. CLAIR

  6. (H) DP: HOLLAND, HIMSCHOOT, CARRICK

  7. (H) STA RPT CS(STA) 3DP 3DNP 1AM

  8. (H) Minutes (HSTA)

  9. (H) Moved CSHB 124(STA) Out of Committee

  10. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  11. (H) Minutes (HSTA)

  12. (H) Heard & Held

  13. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  14. (H) COSPONSOR(S): MINA

  15. (H) Minutes (HSTA)

  16. (H) Heard & Held

  17. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  18. (H) Minutes (HSTA)

  19. (H) Heard & Held

  20. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  21. (H) Minutes (HSTA)

  22. (H) Heard & Held

  23. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  24. (H) Minutes (HSTA)

  25. (H) Heard & Held

  26. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  27. (H) Minutes (HSTA)

  28. (H) Heard & Held

  29. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  30. (H) STA, FIN

  31. (H) READ THE FIRST TIME - REFERRALS

Sponsors

Sponsorship breakdown

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1 sponsors · 1 co-sponsors · 63 not signed on · 18 voted No

Sponsors (1)

Co-sponsors (1)

Not signed on (63)

63 members have not signed on to this bill.

Show all 63 →

"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

Refer to Judiciary Committee

Failed 19 Yea · 20 Nay · 1 Other
Party YeaNayPresentNot Voting
R 18101
D 01400
Unaffiliated 1000
N 0500
Total 192001
% of votes cast 48%50%0%3%
How each member voted (40)
Member Party Vote
Steve St. Clair — Yea
Andi Story D Nay
Andrew Gray D Nay
Andy Josephson D Nay
Ashley Carrick D Nay
Carolyn Hall D Nay
Donna Mears D Nay
Genevieve Mina D Nay
Maxine Dibert D Nay
Neal Foster D Nay
Nellie Unangiq Jimmie D Nay
Robyn Niayuq Frier D Nay
Sara Hannan D Nay
Ted Eischeid D Nay
Zack Fields D Nay
Alyse Galvin N Nay
Bryce Edgmon N Nay
Calvin Schrage N Nay
Ky Holland N Nay
Rebecca Himschoot N Nay
Bill Elam R Yea
Chuck Kopp R Yea
Dan Saddler R Yea
David Nelson R Yea
David Nelson R Yea
DeLena Johnson R Yea
Elexie Moore R Yea
Frank Tomaszewski R Not Voting
Jamie Allard R Yea
Jeremy Bynum R Yea
Jubilee Underwood R Yea
Julie Coulombe R Yea
Justin Ruffridge R Yea
Kevin McCabe R Yea
Louise Stutes R Nay
Mia Costello R Yea
Mike Prax R Yea
Rebecca Schwanke R Yea
Sarah Vance R Yea
Will Stapp R Yea

Official roll call →

Subjects

public-safety finance environment transportation agriculture 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 HB 124?
HB 124 is sponsored by Genevieve Mina (D) and Ashley Carrick (D).
What is the current status of HB 124?
This bill is in committee in the House. Introduced March 05, 2025. It must pass committee before a floor vote.
Where can I track HB 124?
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