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HB 81: "An Act making an entity that is exempt from federal taxation under 26 U.S.C. 501(c)(3), (4), (6), (12), or (19) (Internal Revenue Code) and a federally recognized tribe eligible for a loan from the Alaska energy efficiency revolving loan fund; relating to loans from the Alaska energy efficiency revolving loan fund; and relating to the annual report published by the Alaska Housing Finance Corporation."

00                              HOUSE BILL NO. 81                                                                          
01 "An Act making an entity that is exempt from federal taxation under 26 U.S.C.                                           
02 501(c)(3), (4), (6), (12), or (19) (Internal Revenue Code) and a federally recognized tribe                             
03 eligible for a loan from the Alaska energy efficiency revolving loan fund; relating to                                  
04 loans from the Alaska energy efficiency revolving loan fund; and relating to the annual                                 
05 report published by the Alaska Housing Finance Corporation."                                                            
06 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
07    * Section 1. AS 18.56.200(d) is amended to read:                                                                   
08            (d)  The corporation shall include in its annual report under (b) of this section                            
09                 (1)  a report of its activities under                                                                   
10                      (A)  AS 18.55.010 - 18.55.290 (Housing Project and Public                                          
11            Building Assistance Act);                                                                                    
12                      (B)  AS 18.55.300 - 18.55.470 (programs of moderate income                                         
13            and rental housing);                                                                                         
01                      (C)  AS 18.55.480 - 18.55.960 (Slum Clearance and                                                  
02            Redevelopment Act); and                                                                                  
03                      (D)  AS 18.56.855 (Alaska energy efficiency revolving loan                                     
04            fund);                                                                                                   
05                 (2)  a summary of its efforts to implement a program to extend the                                      
06       operation of the programs authorized under AS 18.55 and this chapter to rural                                     
07       communities;                                                                                                      
08                 (3)  an evaluation of the corporation's ability to fulfill the objectives of                            
09       AS 18.56.010(b) - (e); and                                                                                        
10 (4)  the amount of interest rate, building, and other subsidies for each                                                
11       program of the corporation for which subsidies are given.                                                         
12    * Sec. 2. AS 18.56.855(b) is amended to read:                                                                      
13 (b)  Money and other assets of the Alaska energy efficiency revolving loan                                              
14       fund may be used to                                                                                               
15 (1)  make loans to a tax exempt entity, a federally recognized tribe, a                                             
16 regional educational attendance area, a [AREAS OR TO] municipal government                                      
17 [GOVERNMENTS], including a subdivision [SUBDIVISIONS] of a municipal                                            
18 government, [GOVERNMENTS, TO] the University of Alaska, or [TO] the state for                                       
19 the purpose of financing energy efficiency improvements to buildings in the state                                   
20 owned by a tax exempt entity, a federally recognized tribe, a regional educational                                  
21 attendance area, [AREAS, BY] the University of Alaska, [BY] the state, or a                                     
22       municipality [BY MUNICIPALITIES IN THE STATE];                                                                
23 (2)  secure bonds issued by the corporation to finance the loans                                                        
24       described in (1) of this subsection;                                                                              
25                 (3)  pay costs of administering the revolving loan fund; and                                            
26 (4)  pay the costs of administering and enforcing the terms of loans                                                    
27       made by the corporation from the revolving loan fund.                                                             
28    * Sec. 3. AS 18.56.855(c) is amended to read:                                                                      
29 (c)  Before a federally recognized tribe, a regional educational attendance                                         
30 area, the University of Alaska, a municipal government, or a subdivision of a                                           
31 municipal government, may borrow money from the corporation under this section,                                         
01 the federally recognized tribe, regional educational attendance area, [THE]                                         
02 University of Alaska, or [THE] municipal government shall waive any sovereign                                           
03 immunity defense it may have available to it with respect to enforcement of the terms                                   
04 of the loan. A regional educational attendance area, the University of Alaska, or a                                     
05 municipal government may waive sovereign immunity to comply with the requirement                                        
06 of this subsection. The state waives any sovereign immunity defense against                                             
07 enforcement of the terms of a loan made to the state under this section. A person or                                    
08 corporation having a claim under this section shall bring an action in a state court in                                 
09       Alaska that has jurisdiction over the claim.                                                                      
10    * Sec. 4. AS 18.56.855(d) is amended to read:                                                                      
11 (d)  A tax exempt entity, a federally recognized tribe, a [ALL] regional                                            
12 educational attendance area, a [AREAS AND] municipal government, or                                             
13 [GOVERNMENTS IN THE STATE AND] the University of Alaska is [ARE]                                                    
14 authorized to borrow from the corporation under this section. The corporation shall set                                 
15 out the terms of a loan to a tax exempt entity, a federally recognized tribe, or a                                  
16 regional educational attendance area in a loan agreement or similar document. At the                                    
17 discretion of the corporation, a borrowing by a regional educational attendance area,                                   
18 the University of Alaska, or a municipal government under this section may be                                           
19 effected by use of a loan agreement or similar document evidencing and setting out the                                  
20 terms of the loan or by issuance of a bond by the municipal government to the                                           
21 corporation. Notwithstanding a charter provision requiring public sale by a regional                                    
22 educational attendance area or a municipality of its municipal bonds or other                                           
23 indebtedness, a regional educational attendance area or municipality may sell its bonds                                 
24 under this section to the corporation at a negotiated, private sale. At the discretion of                               
25 the corporation, the bonds or other indebtedness of the municipality may be general                                     
26 obligations of the municipality or may be secured by an identified revenue source or                                    
27 by a combination of the full faith and credit of the municipality and an identified                                     
28       revenue source.                                                                                                   
29    * Sec. 5. AS 18.56.855(e) is amended to read:                                                                      
30 (e)  Notwithstanding any other provision of law, to the extent that a department                                        
31 or agency of the state is the custodian of money payable to a tax exempt entity, a                                  
01 federally recognized tribe, a regional educational attendance area, [TO] the                                        
02 University of Alaska, or [TO] a municipality, at any time after written notice to the                                   
03 department or agency head from the corporation that a tax exempt entity, federally                                
04 recognized tribe, [THE] regional educational attendance area, [THE] University of                                   
05 Alaska, or [THE] municipality is in default on the payment of principal of or interest                                  
06 on municipal bonds or other indebtedness then held or owned by the corporation, or                                      
07 amounts due under an agreement between the corporation and a tax exempt entity, a                                   
08 federally recognized tribe, a regional educational attendance area, the University of                               
09 Alaska, or a municipality, the department or agency shall withhold the payment of that                                  
10 money from a tax exempt entity, federally recognized tribe, [THAT] regional                                         
11 educational attendance area, [THE] University of Alaska, or [THAT] municipality and                                     
12 pay over the money to the corporation for the purpose of paying the principal of and                                    
13 interest on the bonds or indebtedness. The notice must be given in each instance of                                     
14 default. If a notice is given under this subsection and, if applicable, under                                       
15 AS 44.85.170 and the default is continuing under this subsection or [AND] under                                     
16 AS 44.85.170, the department or agency shall make payment to the corporation and to                                     
17 the Alaska Municipal Bond Bank Authority on a pro rata basis, taking into                                               
18       consideration the principal amount of the respective default amounts.                                             
19    * Sec. 6. AS 18.56.855(j) is amended to read:                                                                      
20            (j)  In this section,                                                                                        
21                 (1)  "authorized state officer" means                                                               
22 (A) [(1)]  the commissioner of the department of the state for a                                                    
23            building owned by the state;                                                                                 
24 (B) [(2)]  the executive director of a public corporation for a                                                     
25            building owned by the public corporation;                                                                    
26 (C) [(3)]  the legislative council for a building owned by the                                                      
27            legislature;                                                                                                 
28 (D) [(4)]  the administrative director of the Alaska Court                                                          
29            System for a building owned by the judicial system;                                                          
30 (E) [(5)]  any other person designated in writing by a person                                                       
31            listed in (A) - (E) [(1) - (4)] of this paragraph [SUBSECTION];                                  
01                 (2)  "federally recognized tribe"                                                                   
02                      (A)  means a tribe that is recognized by the United States                                     
03            Secretary of the Interior to exist as an Indian tribe under 25 U.S.C. 479a                               
04            (Federally Recognized Indian Tribe List Act of 1994);                                                    
05                      (B)  includes a subdivision, subsidiary, or business                                           
06            enterprise wholly owned by a federally recognized tribe;                                                 
07                 (3)  "tax-exempt entity" means an entity designated as tax exempt                                   
08       under 26 U.S.C. 501(c)(3), (4), (6), (12), or (19) (Internal Revenue Code).                                   
09    * Sec. 7. AS 18.56.855 is amended by adding new subsections to read:                                               
10 (k)  In considering applications and making loans from the Alaska energy                                                
11 efficiency revolving loan fund, the corporation shall give priority to energy efficiency                                
12 improvements to buildings owned by a regional educational attendance area, the                                          
13       University of Alaska, a municipality, or the state over other applications and loans.                             
14            (l)  Notwithstanding any provision of this section, the recipient of a loan under                            
15       this section may not be a for-profit business enterprise.