00CS FOR HOUSE BILL NO. 183(FIN)                                                                                          
01 "An Act limiting the authority of the Alaska Housing Finance Corporation to                                             
02 use money or another asset of the corporation to acquire or construct a                                                 
03 building for the corporation's use and occupancy, and extending the requirements                                        
04 of preliminary evaluation, notice, and prior legislative approval of certain lease-purchase agreements to               
05 include proposed improvements to real property; and                                                                     
06 providing for an effective date."                                                                                       
07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
08    * Section 1.  AS 18.56.090 is amended by adding a new subsection to read:                                            
09  (d)  Notwithstanding authority granted by AS 18.55 and this chapter, the                                              
10 corporation may not acquire or construct a building for the corporation's own use and                                   
11 occupancy unless the proposed acquisition or construction has been approved by the                                      
12 legislature by law.                                                                                                     
13    * Sec. 2.  AS 36.30.085(b) is amended to read:                                                                       
14  (b)  When evaluating proposals to acquire or improve real property under a                                          

01 lease-purchase agreement, the department, the Board of Regents, the legislative                                         
02 council, or the supreme court shall consider                                                                            
03   (1)  in addition to lease costs, the life cycle costs, function, indoor                                              
04 environment, public convenience, planning, design, appearance, and location of the real                                 
05 property proposed for acquisition or improvement; and                                                                 
06   (2)  whether acquisition or improvement of the real property by lease-purchase agreement is likely to be the       
07 least costly means to provide the space.                                                                                
08    * Sec. 3.  AS 36.30.085(e) is amended to read:                                                                       
09  (e)  The department, the Board of Regents, the legislative council, or the                                            
10 supreme court may not enter into a lease-purchase agreement to acquire or improve                                     
11 real property unless the agreement has been approved by the legislature by law.                                         
12    * Sec. 4.  This Act takes effect immediately under AS 01.10.070(c).