CSHB 154(FIN): "An Act relating to subsidiary corporations of the Alaska Housing Finance Corporation; and providing for an effective date."
00 CS FOR HOUSE BILL NO. 154(FIN) 01 "An Act relating to subsidiary corporations of the Alaska Housing Finance 02 Corporation; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 18.56.010 is amended by adding a new subsection to read: 05 (h) The legislature finds that permitting the Alaska Housing Finance 06 Corporation to create a subsidiary to assist in the financing of sustainable energy 07 development serves a public purpose benefitting the people of the state. The Alaska 08 Housing Finance Corporation is empowered to act on behalf of the state and its people 09 in serving this public purpose for the benefit of the general public. 10 * Sec. 2. AS 18.56.086(a) is amended to read: 11 (a) The corporation may create subsidiary corporations for the purpose of 12 financing or facilitating the financing of school construction, facilities for the 13 University of Alaska, facilities for ports and harbors, the acquisition, development, 14 management, or operation of [AFFORDABLE] housing, prepayment of all or a
01 portion of a governmental employer's share of unfunded accrued actuarial liability of 02 retirement systems, sustainable energy development, or other capital projects. A 03 subsidiary corporation created under this section may be incorporated under 04 AS 10.20.146 - 10.20.166. The corporation may transfer assets of the corporation to a 05 subsidiary created under this section. A subsidiary created under this section may 06 borrow money and issue bonds as evidence of that borrowing, and has all the powers 07 of the corporation that the corporation grants to it. However, a subsidiary created for 08 the purpose of financing or facilitating the financing of prepayment of a governmental 09 employer's share of unfunded accrued actuarial liability of retirement systems may 10 borrow money and issue bonds only after submitting a proposal to the Legislative 11 Budget and Audit Committee under (b) of this section, if the state bond rating is the 12 equivalent of AA- or better, and subject to AS 37.15.903. Unless otherwise provided 13 by the corporation, the debts, liabilities, and obligations of a subsidiary corporation 14 created under this section are not the debts, liabilities, or obligations of the 15 corporation. 16 * Sec. 3. AS 18.56.086 is amended by adding a new subsection to read: 17 (c) In managing a subsidiary created for the purpose of financing or 18 facilitating the financing of sustainable energy development, the corporation shall 19 consider the state energy policy described in AS 44.99.115 and shall prioritize 20 sustainable energy development that supports energy efficiency and renewable energy 21 for residential buildings, commercial buildings, and community facilities. 22 * Sec. 4. AS 18.56.090(e) is amended to read: 23 (e) In furtherance of its corporate purpose, the corporation may, in cooperation 24 with the Alaska Energy Authority, provide technical assistance at no cost to 25 (1) municipalities that is related to residential and commercial 26 building energy codes and energy efficiency standards; and 27 (2) support or establish public, quasi-public, or nonprofit entities 28 that provide financial assistance for sustainable energy development projects in 29 the state or delivering energy to the state, including community and low-income 30 lenders and capital providers. 31 * Sec. 5. AS 18.56.900 is amended by adding a new paragraph to read:
01 (3) "sustainable energy development" means 02 (A) renewable energy generation from sources that are 03 continually replenished by nature, such as the sun, wind, water, or biological 04 processes; 05 (B) building energy efficiency, including switching to 06 renewable fuels and electrification; 07 (C) electrical infrastructure incorporating 08 (i) energy storage to support clean energy distribution, 09 including remote and non-remote microgrids and smart-grid 10 applications; or 11 (ii) sustainable technologies, including distributed 12 generation, advanced battery, and combined heat and power; 13 (D) clean transportation, including 14 (i) electric vehicles powered by batteries, hydrogen 15 vehicles, plug-in hybrid electric vehicles, and other zero-emissions 16 vehicles for consumers, businesses, government, and public transit; and 17 (ii) electric vehicle charging and fueling infrastructure; 18 or 19 (E) any greenhouse gas emissions reduction, energy efficiency, 20 or zero-emission technology approved by the corporation. 21 * Sec. 6. This Act takes effect immediately under AS 01.10.070(c).