00                            HOUSE BILL NO. 492                                                                          
01 "An Act relating to powers of the Alaska Energy Authority, increasing the maximum                                       
02 amount of loans from the bulk fuel revolving loan fund operated by the authority, and                                   
03 providing immunity for the authority for technical assistance; and providing for an                                     
04 effective date."                                                                                                        
05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
06    * Section 1.  AS 42.45.250(e) is amended to read:                                                                  
07            (e)  Loans made from the bulk fuel revolving loan fund to one borrower in any                                
08       fiscal year are not subject to AS 42.45.060 and                                                                   
09                 (1)  may not exceed $200,000 [$100,000];                                                            
10                 (2)  shall be repaid in one year or less; and                                                           
11                 (3)  may not exceed 90 percent of the wholesale price of the fuel                                       
12       purchased.                                                                                                        
13    * Sec. 2.  AS 42.45.400 is amended by adding a new subsection to read:                                             
14            (c)  A rural utility accepting any assistance or training provided under this                                

01       section agrees as a condition of its acceptance that the authority and its officers,                              
02       employees, agents, and contractors are immune from liability for any work performed                               
03       under this section.                                                                                               
04    * Sec. 3.  AS 44.83.080(10) is amended to read:                                                                    
05                 (10)  to enter into contracts with the United States or any person and,                                 
06       subject to the laws of the United States and subject to concurrence of the legislature,                           
07       with a foreign country or its agencies, for the financing, construction, operation, and                       
08       maintenance of all or any part of a power project or bulk fuel storage facility, either                       
09       inside or outside the state, and for the sale or transmission of power from a power                           
10       project or any right to the capacity of it or for the security of any bonds of the                                
11       authority issued or to be issued for the project;                                                                 
12    * Sec. 4.  AS 44.83.080 is amended by adding a new paragraph to read:                                              
13                 (16)  to make grants or loans to a person and enter into contracts or                                   
14       other transactions regarding the grant or loan.                                                                   
15    * Sec. 5.  This Act takes effect immediately under AS 01.10.070(c).