Alaska 34th Alaska State Legislature Status: To Executive 7 D cosponsors

SB 39 — An Act relating to loans in an amount of $25,000 or less; relating to financial institutions; relating to the Nationwide Multistate Licensing System and Registry; relating to pawnbroker licensing exemptions; relating to deferred deposit advances; relating to computing interest; and providing for an effective date.

Last action — (S) VETOED BY GOVERNOR 6/24/25

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

This bill has been sent to the executive. Introduced January 22, 2025. It awaits signature.

Vetoed by Governor Mike Dunleavy (Republican) on July 30, 2025.

Next likely step: the executive signs it into law or issues a veto.

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

Likely to advance 74% · moderate confidence

  • To Executive

    Current position in the legislative process.

  • 7 sponsors

    1 primary, 6 co-sponsors signed on.

  • Single-party support

    Sponsorship is currently within one party (7 D).

  • Cleared a recorded vote

    Passed 3 recorded votes so far.

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

180 added · 171 removed

Plain-language change summary

The amendments to Bill SB 39 primarily involve expanding the focus of the legislation to include specific provisions regarding financial institutions and pawnbroker licensing exemptions. Notably, the term "federally chartered financial institution" is clarified for state financial institutions, ensuring they can operate under similar powers and limitations as their federal counterparts. This change is significant as it aims to level the playing field for state financial institutions, potentially improving competition and services available to consumers in Alaska.

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Latest
34-LS0357\A SENATE BILL NO.
LAWS OF ALASKA Source Chapter No.
39 IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-FOURTH LEGISLATURE - FIRST SESSION BY SENATORS DUNBAR, Tobin, Gray-Jackson, Kawasaki Introduced:
CSSB 39(FIN) _______ AN ACT Relating to loans in an amount of $25,000 or less;
1/22/25 Referred:
relating to financial institutions;
Labor and Commerce, Finance A BILL FOR AN ACT ENTITLED "An Act relating to loans in an amount of $25,000 or less;
relating to pawnbroker licensing exemptions;
and providing for an effective date." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
relating to computing interest;
* Section 1.
and providing for an effective date.
_______________ BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
THE ACT FOLLOWS ON PAGE 1 Enrolled SB 39 AN ACT Relating to loans in an amount of $25,000 or less;
relating to financial institutions;
relating to the Nationwide Multistate Licensing System and Registry;
relating to pawnbroker licensing exemptions;
relating to deferred deposit advances;
relating to computing interest;
and providing for an effective date.
_______________ * Section 1.
and (2) equalizes and maintains the quality of competition between state SB0039A -1- SB 39 New Text Underlined [DELETED TEXT BRACKETED] 34-LS0357\A financial institutions and federally chartered financial institutions.
and -1- Enrolled SB 39 (2) equalizes and maintains the quality of competition between state financial institutions and federally chartered financial institutions.
in this paragraph, "institution" includes a commercial bank, savings bank, credit union, premium finance company, small loan company, bank holding company, financial holding company, trust company, savings and loan association, [DEFERRED DEPOSIT ADVANCE LICENSEE UNDER AS 06.50,] and a licensee under AS 06.60;
in this paragraph, "institution" includes a commercial bank, savings bank, mutual savings bank, credit union, premium finance company, small loan company, bank holding company, financial holding company, trust company, savings and loan association, [DEFERRED DEPOSIT ADVANCE LICENSEE UNDER AS 06.50,] and a licensee under AS 06.60;
AS 06.20.010(b) is amended to read:
(b) A person who is doing business under and as permitted by any law of the state or of the United States relating to banks, savings banks, mutual savings banks, trust companies, building and loan associations, or credit unions and who is exempt from the licensing requirement in (a) of this section shall comply with all other provisions of this chapter.
* Sec.
4.
(d) For the purposes of this chapter, a loan or transaction takes place in the state if the borrower is a resident of the state and the borrower completes the transaction, either in person or electronically, while physically present in the state.
(d) For the purposes of this chapter, a loan or transaction takes place in the state if the borrower is a resident of the state and the borrower completes the Enrolled SB 39 -2- transaction, either in person or electronically, while physically present in the state.
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(2) establish by regulation a process for licensees under this chapter to challenge information entered into the registry by the depant;e SB 39 -2- SB0039A New Text Underlined [DELETED TEXT BRACKETED] 34-LS0357\A (3) contract with entities designated by the registry to collect and maintain records or process fees;
(2) establish by regulation a process for licensees under this chapter to challenge information entered into the registry by the department;
(3) contract with entities designated by the registry to collect and maintain records or process fees;
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(a) To apply for a license under this chapter, an applicant or person must submit a separate application to the department or through the registry for each location, including a branch, Internet website, or mobile application, through which the applicant or person conducts business.
(a) To apply for a license under this -3- Enrolled SB 39 chapter, an applicant or person must submit a separate application to the department or through the registry for each location, including a branch, Internet website, or mobile application, through which the applicant or person conducts business.
(b) The department may establish by regulation information that must be submitted by an applicant and licensee, the procedures for determining acceptable criteria for approvals and denials, procedures for paying the fees in the registry, and the effective period of a license.
(b) The department may establish by regulation information that must be submitted by an applicant and licensee, the procedures for determining acceptable criteria for approvals and denials, the procedures for paying the fees in the registry, and the effective period of a license.
SB0039A -3- SB 39 New Text Underlined [DELETED TEXT BRACKETED] 34-LS0357\A * Sec.
* Sec.
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AND AT A RATE AGREED BY CONTRACT ON THE REMAINDER OF ANY UNPAID PRINCIPAL BALANCE EXCEEDING $10,000 BUT NOT EXCEEDING] $25,000.
AND AT A RATE AGREED BY CONTRACT ON THE REMAINDER OF ANY UNPAID PRINCIPAL BALANCE EXCEEDING $10,000 BUT NOT EXCEEDING] Enrolled SB 39 -4- $25,000.
The interest rate on loans under (a) or (b) of this section shall be computed by including all fees, costs, and premiums charged under AS 06.20.260(a)(1) - (5).
The interest rate on loans under (a) or (b) of this section shall be computed by including all fees, costs, and premiums charged under AS 06.20.260(a)(1) and (3) - (5).
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SB 39 -4- SB0039A New Text Underlined [DELETED TEXT BRACKETED] 34-LS0357\A Sec.
Sec.
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AS 06.20.330(b) is amended to read:
(b) This chapter does not apply to [INDIVIDUAL LOANS BY] (1) pawnbroker transactions by a pawnbroker licensed under AS 08.76 [PAWNBROKERS WHERE SEPARATE AND INDIVIDUAL LOANS DO NOT EXCEED $750;
IN THIS PARAGRAPH, "PAWNBROKER" MEANS A PERSON WHO IS REGULATED UNDER AS 08.76.100 - 08.76.590];
or (2) a financial institution chartered under 12 U.S.C.
38 (National Bank Act) or 12 U.S.C.
1751 - 1795k (Federal Credit Union Act) [LOAN SHOPS WHERE SEPARATE AND INDIVIDUAL LOANS DO NOT EXCEED $500].
* Sec.
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Sec.
-5- Enrolled SB 39 Sec.
This chapter does not apply to (1) a financial institution that is subject to the regulation of the department under AS 06, including a commercial bank, savings bank, credit union, premium finance company, small loan company, bank holding company, financial holding company, trust company, or savings and loan association [, AND DEFERRED DEPOSIT ADVANCE LICENSEE UNDER AS 06.50];
This chapter does not apply to (1) a financial institution that is subject to the regulation of the department under AS 06, including a commercial bank, savings bank, mutual savings bank, credit union, premium finance company, small loan company, bank holding company, financial holding company, trust company, or savings and loan association [, AND DEFERRED DEPOSIT ADVANCE LICENSEE UNDER AS 06.50];
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AS 06.20.030(c), 06.20.330;
AS 06.20.030(c);
AS 06.50.010, 06.50.020, SB0039A -5- SB 39 New Text Underlined [DELETED TEXT BRACKETED] 34-LS0357\A 06.50.030, 06.50.040, 06.50.050, 06.50.060, 06.50.070, 06.50.080, 06.50.090, 06.50.200, 06.50.210, 06.50.220, 06.50.230, 06.50.300, 06.50.310, 06.50.320, 06.50.330, 06.50.400, 06.50.410, 06.50.420, 06.50.430, 06.50.440, 06.50.450, 06.50.460, 06.50.470, 06.50.480, 06.50.490, 06.50.500, 06.50.510, 06.50.520, 06.50.530, 06.50.540, 06.50.550, 06.50.560, 06.50.600, 06.50.610, 06.50.900;
AS 06.50.010, 06.50.020, 06.50.030, 06.50.040, 06.50.050, 06.50.060, 06.50.070, 06.50.080, 06.50.090, 06.50.200, 06.50.210, 06.50.220, 06.50.230, 06.50.300, 06.50.310, 06.50.320, 06.50.330, 06.50.400, 06.50.410, 06.50.420, 06.50.430, 06.50.440, 06.50.450, 06.50.460, 06.50.470, 06.50.480, 06.50.490, 06.50.500, 06.50.510, 06.50.520, 06.50.530, 06.50.540, 06.50.550, 06.50.560, 06.50.600, 06.50.610, 06.50.900;
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SB 39 -6- SB0039A New Text Underlined [DELETED TEXT BRACKETED]
Enrolled SB 39 -6-
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Action History

  1. (S) VETOED BY GOVERNOR 6/24/25

  2. (S) MANIFEST ERROR(S)

  3. (S) 9:17 A.M. 6/23/25 Transmitted to Governor

  4. (H) CROSS SPONSOR(S): MINA

  5. (H) VERSION: CSSB 39(FIN)

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

  7. (H) EFFECTIVE DATE(S) ADOPTED Y29 N11

  8. (H) PASSED Y24 N16

  9. (H) READ THE THIRD TIME CSSB 39(FIN)

  10. (H) CROSS SPONSOR(S): JOSEPHSON

  11. (H) ADVANCED TO THIRD READING 5/20 CALENDAR

  12. (H) READ THE SECOND TIME

  13. (H) RULES TO CALENDAR 5/19/2025

  14. (H) FN2: (CED)

  15. (H) AM: STAPP, TOMASZEWSKI

  16. (H) NR: BYNUM, SCHRAGE

  17. (H) DP: HANNAN, GALVIN, JIMMIE, FOSTER, JOSEPHSON

  18. (H) FIN RPT 5DP 2NR 2AM

  19. (H) Minutes (HFIN)

  20. (H) Moved CSSB 39(FIN) Out of Committee -- Recessed to a Call of the Chair --

  21. (H) FINANCE at 12:00 PM ADAMS 519

  22. (H) Minutes (HFIN)

  23. (H) Heard & Held -- Recessed to 8:00 am on 5/16 --

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

  25. (H) Minutes (HFIN)

  26. (H) Heard & Held -- Delayed to 1:55 pm --

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

  28. (H) Minutes (HFIN)

  29. (H) Heard & Held -- Please Note Time Change --

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

  31. (H) CROSS SPONSOR(S): EISCHEID

  32. (H) FIN

  33. (H) READ THE FIRST TIME - REFERRALS

  34. (S) VERSION: CSSB 39(FIN)

  35. (S) TRANSMITTED TO (H)

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

  37. (S) PASSED Y14 N6

  38. (S) READ THE THIRD TIME CSSB 39(FIN)

  39. (S) ADVANCED TO THIRD READING 4/15 CAL

  40. (S) FIN CS ADOPTED UC

  41. (S) READ THE SECOND TIME

  42. (S) RULES TO CALENDAR 4/14/2025

  43. (S) FN2: (CED)

  44. (S) NR: STEDMAN, KAUFMAN, CRONK, MERRICK

  45. (S) DP: OLSON, HOFFMAN, KIEHL

  46. (S) FIN RPT CS 3DP 4NR NEW TITLE

  47. (S) Minutes (SFIN)

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

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

  50. (S) Minutes (SFIN)

  51. (S) Heard & Held

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

  53. (S) FN1: (CED)

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

  55. (S) NR: BJORKMAN, MERRICK, YUNDT

  56. (S) L&C RPT CS 3NR 2DP SAME TITLE

  57. (S) Minutes (SL&C)

  58. (S) Moved CSSB 39(L&C) Out of Committee

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

  60. (S) Minutes (SL&C)

  61. (S) Heard & Held

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

  63. (S) COSPONSOR(S): TOBIN, GRAY-JACKSON, KAWASAKI

  64. (S) L&C, FIN

  65. (S) READ THE FIRST TIME - REFERRALS

  66. (S) Prefile released 1/10/25

Sponsors

Sponsorship breakdown

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1 sponsors · 6 co-sponsors · 58 not signed on · 20 voted No

Sponsors (1)

Co-sponsors (6)

Not signed on (58)

58 members have not signed on to this bill.

Show all 58 →

"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

Third Reading — Final Passage

Passed 24 Yea · 16 Nay
Party YeaNayPresentNot Voting
R 51600
Unaffiliated 1000
D 13000
N 5000
Total 241600
% of votes cast 60%40%0%0%
How each member voted (40)
Member Party Vote
Robyn Niayuq Burke — Yea
Andi Story D Yea
Andrew Gray D Yea
Andy Josephson D Yea
Ashley Carrick D Yea
Carolyn Hall D Yea
Donna Mears D Yea
Genevieve Mina D Yea
Maxine Dibert D Yea
Neal Foster D Yea
Nellie Unangiq Jimmie D Yea
Sara Hannan D Yea
Ted Eischeid D Yea
Zack Fields D Yea
Alyse Galvin N Yea
Bryce Edgmon N Yea
Calvin Schrage N Yea
Ky Holland N Yea
Rebecca Himschoot N Yea
Bill Elam R Nay
Cathy Tilton R Nay
Chuck Kopp R Yea
Dan Saddler R Yea
David Nelson R Yea
DeLena Johnson R Nay
Elexie Moore R Nay
Frank Tomaszewski R Nay
George Rauscher R Nay
Jamie Allard R Nay
Jeremy Bynum R Nay
Jubilee Underwood R Nay
Julie Coulombe R Nay
Justin Ruffridge R Yea
Kevin McCabe R Nay
Louise Stutes R Yea
Mia Costello R Nay
Mike Prax R Nay
Rebecca Schwanke R Nay
Sarah Vance R Nay
Will Stapp R Nay

Official roll call →

Third Reading — Effective Date

Passed 29 Yea · 11 Nay
Party YeaNayPresentNot Voting
D 13000
N 5000
R 101100
Unaffiliated 1000
Total 291100
% of votes cast 73%28%0%0%
How each member voted (40)
Member Party Vote
Robyn Niayuq Burke — Yea
Andi Story D Yea
Andrew Gray D Yea
Andy Josephson D Yea
Ashley Carrick D Yea
Carolyn Hall D Yea
Donna Mears D Yea
Genevieve Mina D Yea
Maxine Dibert D Yea
Neal Foster D Yea
Nellie Unangiq Jimmie D Yea
Sara Hannan D Yea
Ted Eischeid D Yea
Zack Fields D Yea
Alyse Galvin N Yea
Bryce Edgmon N Yea
Calvin Schrage N Yea
Ky Holland N Yea
Rebecca Himschoot N Yea
Bill Elam R Yea
Cathy Tilton R Nay
Chuck Kopp R Yea
Dan Saddler R Yea
David Nelson R Yea
DeLena Johnson R Yea
Elexie Moore R Nay
Frank Tomaszewski R Nay
George Rauscher R Nay
Jamie Allard R Nay
Jeremy Bynum R Yea
Jubilee Underwood R Nay
Julie Coulombe R Nay
Justin Ruffridge R Yea
Kevin McCabe R Nay
Louise Stutes R Yea
Mia Costello R Yea
Mike Prax R Nay
Rebecca Schwanke R Nay
Sarah Vance R Nay
Will Stapp R Yea

Official roll call →

Third Reading - Final Passage — Effective Date(s)

Passed 14 Yea · 6 Nay
Party YeaNayPresentNot Voting
R 5400
D 9000
Unaffiliated 0200
Total 14600
% of votes cast 70%30%0%0%
How each member voted (20)
Member Party Vote
Shelley Hughes — Nay
Mike Shower — Nay
Bill Wielechowski D Yea
Donald Olson D Yea
Elvi Gray-Jackson D Yea
Forrest Dunbar D Yea
Jesse Kiehl D Yea
Lyman Hoffman D Yea
Löki Tobin D Yea
Matt Claman D Yea
Scott Kawasaki D Yea
Bert Stedman R Nay
Cathy Giessel R Yea
Gary Stevens R Yea
James Kaufman R Yea
Jesse Bjorkman R Yea
Kelly Merrick R Yea
Mike Cronk R Nay
Robert Myers R Nay
Robert Yundt R Nay

Official roll call →

Subjects

taxation finance 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 39?
SB 39 is sponsored by Genevieve Mina (D), Andy Josephson (D), Ted Eischeid (D), Scott Kawasaki (D), Elvi Gray-Jackson (D), Löki Tobin (D), and Forrest Dunbar (D).
What is the current status of SB 39?
This bill has been sent to the executive. Introduced January 22, 2025. It awaits signature.
Where can I track SB 39?
Track SB 39 free on One Click Politics — get push/email alerts when it moves.

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