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CSHB 81(ENE): "An Act making certain entities that are exempt from federal taxation under 26 U.S.C. 501(c)(3), (4), (6), (12), or (19) (Internal Revenue Code), regional housing authorities, and federally recognized tribes 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                       CS FOR HOUSE BILL NO. 81(ENE)                                                                     
01 "An Act making certain entities that are exempt from federal taxation under 26 U.S.C.                                   
02 501(c)(3), (4), (6), (12), or (19) (Internal Revenue Code), regional housing authorities,                               
03 and federally recognized tribes eligible for a loan from the Alaska energy efficiency                                   
04 revolving loan fund; relating to loans from the Alaska energy efficiency revolving loan                                 
05 fund; and relating to the annual report published by the Alaska Housing Finance                                         
06 Corporation."                                                                                                           
07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
08    * Section 1. AS 18.56.200(d) is amended to read:                                                                   
09            (d)  The corporation shall include in its annual report under (b) of this section                            
10                 (1)  a report of its activities under                                                                   
11                      (A)  AS 18.55.010 - 18.55.290 (Housing Project and Public                                          
12            Building Assistance Act);                                                                                    
13                      (B)  AS 18.55.300 - 18.55.470 (programs of moderate income                                         
01            and rental housing);                                                                                         
02                      (C)  AS 18.55.480 - 18.55.960 (Slum Clearance and                                                  
03            Redevelopment Act); and                                                                                  
04                      (D)  AS 18.56.855 (Alaska energy efficiency revolving loan                                     
05            fund);                                                                                                   
06                 (2)  a summary of its efforts to implement a program to extend the                                      
07       operation of the programs authorized under AS 18.55 and this chapter to rural                                     
08       communities;                                                                                                      
09                 (3)  an evaluation of the corporation's ability to fulfill the objectives of                            
10       AS 18.56.010(b) - (e); and                                                                                        
11 (4)  the amount of interest rate, building, and other subsidies for each                                                
12       program of the corporation for which subsidies are given.                                                         
13    * Sec. 2. AS 18.56.855(b) is amended to read:                                                                      
14 (b)  Money and other assets of the Alaska energy efficiency revolving loan                                              
15       fund may be used to                                                                                               
16 (1)  make loans to a tax exempt entity, a federally recognized tribe, a                                             
17 regional housing authority, a regional educational attendance area, a [AREAS OR                                 
18 TO] municipal government [GOVERNMENTS], including a subdivision                                                 
19 [SUBDIVISIONS] of a municipal government, [GOVERNMENTS, TO] the                                                 
20 University of Alaska, or [TO] the state for the purpose of financing energy efficiency                                  
21 improvements to buildings in the state owned by a tax exempt entity, a federally                                
22 recognized tribe, a regional housing authority, a regional educational attendance                                   
23 area, [AREAS, BY] the University of Alaska, [BY] the state, or a municipality [BY                               
24       MUNICIPALITIES IN THE STATE];                                                                                     
25 (2)  secure bonds issued by the corporation to finance the loans                                                        
26       described in (1) of this subsection;                                                                              
27                 (3)  pay costs of administering the revolving loan fund; and                                            
28 (4)  pay the costs of administering and enforcing the terms of loans                                                    
29       made by the corporation from the revolving loan fund.                                                             
30    * Sec. 3. AS 18.56.855(c) is amended to read:                                                                      
31 (c)  Before a federally recognized tribe, a regional housing authority, a                                           
01 regional educational attendance area, the University of Alaska, a municipal                                             
02 government, or a subdivision of a municipal government [,] may borrow money from                                        
03 the corporation under this section, the federally recognized tribe, regional housing                                
04 authority, regional educational attendance area, [THE] University of Alaska, or                                     
05 [THE] municipal government shall waive any sovereign immunity defense it may                                            
06 have available to it with respect to enforcement of the terms of the loan. A regional                                   
07 educational attendance area, the University of Alaska, or a municipal government may                                    
08 waive sovereign immunity to comply with the requirement of this subsection. The                                         
09 state waives any sovereign immunity defense against enforcement of the terms of a                                       
10 loan made to the state under this section. A person or corporation having a claim under                                 
11 this section shall bring an action in a state court in Alaska that has jurisdiction over the                            
12       claim.                                                                                                            
13    * Sec. 4. AS 18.56.855(d) is amended to read:                                                                      
14 (d)  A tax exempt entity, a federally recognized tribe, a regional housing                                          
15 authority, a [ALL] regional educational attendance area, a [AREAS AND] municipal                                
16 government, or [GOVERNMENTS IN THE STATE AND] the University of Alaska                                              
17 is [ARE] authorized to borrow from the corporation under this section. The                                          
18 corporation shall set out the terms of a loan to a tax exempt entity, a federally                                   
19 recognized tribe, a regional housing authority, or a regional educational attendance                                
20 area in a loan agreement or similar document. At the discretion of the corporation, a                                   
21 borrowing by a regional educational attendance area, the University of Alaska, or a                                     
22 municipal government under this section may be effected by use of a loan agreement                                      
23 or similar document evidencing and setting out the terms of the loan or by issuance of                                  
24 a bond by the municipal government to the corporation. Notwithstanding a charter                                        
25 provision requiring public sale by a regional educational attendance area or a                                          
26 municipality of its municipal bonds or other indebtedness, a regional educational                                       
27 attendance area or municipality may sell its bonds under this section to the corporation                                
28 at a negotiated, private sale. At the discretion of the corporation, the bonds or other                                 
29 indebtedness of the municipality may be general obligations of the municipality or                                      
30 may be secured by an identified revenue source or by a combination of the full faith                                    
31       and credit of the municipality and an identified revenue source.                                                  
01    * Sec. 5. AS 18.56.855(e) is amended to read:                                                                      
02 (e)  Notwithstanding any other provision of law, to the extent that a department                                        
03 or agency of the state is the custodian of money payable to a tax exempt entity, a                                  
04 federally recognized tribe, a regional housing authority, a regional educational                                    
05 attendance area, [TO] the University of Alaska, or [TO] a municipality, at any time                                     
06 after written notice to the department or agency head from the corporation that the tax                             
07 exempt entity, federally recognized tribe, regional housing authority, regional                                     
08 educational attendance area, [THE] University of Alaska, or [THE] municipality is in                                    
09 default on the payment of principal of or interest on municipal bonds or other                                          
10 indebtedness then held or owned by the corporation, or amounts due under an                                             
11 agreement between the corporation and a tax exempt entity, a federally recognized                                   
12 tribe, a regional housing authority, a regional educational attendance area, the                                    
13 University of Alaska, or a municipality, the department or agency shall withhold the                                    
14 payment of that money from the tax exempt entity, federally recognized tribe,                                       
15 regional housing authority, [THAT] regional educational attendance area, [THE]                                      
16 University of Alaska, or [THAT] municipality and pay over the money to the                                              
17 corporation for the purpose of paying the principal of and interest on the bonds or                                     
18 indebtedness. The notice must be given in each instance of default. If a notice is given                                
19 under this subsection and, if applicable, under AS 44.85.170 and the default is                                     
20 continuing under this subsection or [AND] under AS 44.85.170, the department or                                     
21 agency shall make payment to the corporation and to the Alaska Municipal Bond Bank                                      
22 Authority on a pro rata basis, taking into consideration the principal amount of the                                    
23       respective default amounts.                                                                                       
24    * Sec. 6. AS 18.56.855(j) is amended to read:                                                                      
25            (j)  In this section,                                                                                        
26                 (1)  "authorized state officer" means                                                               
27 (A) [(1)]  the commissioner of the department of the state for a                                                    
28            building owned by the state;                                                                                 
29 (B) [(2)]  the executive director of a public corporation for a                                                     
30            building owned by the public corporation;                                                                    
31 (C) [(3)]  the legislative council for a building owned by the                                                      
01            legislature;                                                                                                 
02                      (D) [(4)]  the administrative director of the Alaska Court                                     
03            System for a building owned by the judicial system;                                                          
04                      (E) [(5)]  any other person designated in writing by a person                                  
05            listed in (A) - (D) [(1) - (4)] of this paragraph [SUBSECTION];                                  
06                 (2)  "federally recognized tribe" means                                                             
07                      (A)  a tribe that is recognized by the United States Secretary                                 
08            of the Interior to exist as an Indian tribe under 25 U.S.C. 479a (Federally                              
09            Recognized Indian Tribe List Act of 1994);                                                               
10 (B)  a subdivision, subsidiary, or business enterprise wholly                                                       
11            owned by a federally recognized tribe;                                                                   
12 (3)  "regional housing authority" means a regional housing                                                          
13       authority established under AS 18.55.996;                                                                     
14 (4)  "tax-exempt entity" means an entity designated as tax exempt                                                   
15 under 26 U.S.C. 501(c)(3), (4), (6), (12), or (19) (Internal Revenue Code), but does                                
16 not include an entity organized with the primary purpose of owning, operating,                                      
17 managing, or controlling a plant or system for furnishing electric service by                                       
18 generation, transmission, or distribution, unless the entity is applying for a loan                                 
19 under this section for financing energy efficiency improvements to buildings                                        
20 unrelated to the generation, transmission, or distribution of electric service or                                   
21       recovered heat.                                                                                               
22    * Sec. 7. AS 18.56.855 is amended by adding new subsections to read:                                               
23 (k)  In considering applications and making loans from the Alaska energy                                                
24 efficiency revolving loan fund, the corporation shall give priority to energy efficiency                                
25 improvements to buildings owned by a regional educational attendance area, the                                          
26       University of Alaska, a municipality, or the state over other applications and loans.                             
27 (l)  Notwithstanding any provision of this section, the recipient of a loan under                                       
28       this section may not be a for-profit business enterprise.