00                     CS FOR SENATE BILL NO. 384(TRA)                                                                    
01 "An Act relating to a natural gas pipeline financed by the Alaska Railroad                                              
02 Corporation."                                                                                                           
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 42.40.250(31) is amended to read:                                                                 
05                 (31)  provide financing for the acquisition, construction, improvement,                                 
06       maintenance, equipping, and operation of a natural gas pipeline and related facilities                            
07       for the transportation of natural gas recovered from the North Slope of this state                                
08       without regard to whether the facilities are or will be owned in whole or in part by the                          
09       corporation or located on land owned by the corporation, except that any pipeline                             
10       financed under this paragraph with a terminus in the Cook Inlet Basin must,                                   
11       when technically, economically, and environmentally feasible, follow the Alaska                               
12       Railroad right-of-way for the portion of the project from the City of Fairbanks or                            
13       from the point of a gas offtake valve on a preexisting or proposed pipeline                                   
14       project, to the pipeline terminus in the Cook Inlet Basin.