00                            SENATE BILL NO. 239                                                                         
01 "An Act relating to the Alaska Industrial Development and Export Authority; and                                         
02 relating to workforce housing development projects."                                                                    
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 44.88.070 is amended to read:                                                                      
05 Sec. 44.88.070. Purpose of the authority. The purpose of the authority is to                                          
06 promote, develop, and advance the general prosperity and economic welfare of the                                        
07 people of the state, to relieve problems of unemployment, and to create additional                                      
08       employment by                                                                                                     
09                 (1)  providing various means of financing and means of facilitating the                                 
10       financing, in cooperation with federal, state, and private institutions, of industrial,                           
11       manufacturing, energy, export, small business, and business enterprises and the other                             
12       facilities referred to in AS 44.88.010(a) in the state;                                                           
13                 (2)  owning and operating or providing development project financing                                    
14       for the enterprises and other facilities described in AS 44.88.172;                                               

01                 (3)  fostering the expansion of exports of goods, services, and raw                                     
02       materials of the state;                                                                                           
03                 (4)  cooperating and acting in conjunction with other organizations,                                    
04       public and private, the objects of which are the promotion and advancement of export                              
05       trade activities in the state;                                                                                    
06                 (5)  establishing a source of funding credit guarantees and insurance,                                  
07       not otherwise available, to support export development;                                                           
08                 (6)  providing and cooperating or participating with federal, state, and                                
09       private institutions to provide actual and potential state exporters, particularly small-                         
10 and medium-sized exporters, with financial assistance in support of export                                              
11       transactions;                                                                                                 
12 (7)  providing various means of financing and means of facilitating                                                 
13 the financing of construction of new workforce housing facilities containing five                                   
14       or more dwelling units.                                                                                       
15    * Sec. 2. AS 44.88.080 is amended to read:                                                                         
16 Sec. 44.88.080. Powers of the authority. In furtherance of its corporate                                              
17       purposes, the authority has the following powers in addition to its other powers:                               
18                 (1)  to sue and be sued;                                                                                
19                 (2)  to have a seal and alter it at pleasure;                                                           
20 (3)  to make and alter bylaws for its organization and internal                                                         
21       management;                                                                                                       
22 (4)  to adopt regulations governing the exercise of its corporate powers;                                               
23 (5)  to acquire an interest in a project as necessary or appropriate to                                                 
24       provide financing for the project, whether by purchase, gift, or lease;                                           
25 (6)  to lease to others a project acquired by it for the rentals and upon                                               
26 the terms and conditions the authority may consider advisable, including, without                                       
27       limitation, provisions for options to purchase or renew;                                                          
28 (7)  to issue bonds and otherwise to incur indebtedness, in accordance                                                  
29 with AS 44.88.090, in order to pay the cost of a project or development projects or in                                  
30 order to provide money for the authority's purposes under this chapter; the authority                                   
31 may also secure payment of the bonds or other indebtedness as provided in this                                          

01       chapter;                                                                                                          
02 (8)  to sell, by installment sale or otherwise, exchange, donate, convey,                                               
03 or encumber, in any manner by mortgage or by creation of any other security interest,                                   
04 real or personal property owned by it, or in which it has an interest, including a                                      
05 project, when, in the judgment of the authority, the action is in furtherance of its                                    
06       corporate purposes;                                                                                               
07                 (9)  to accept gifts, grants, or loans from, and enter into contracts or                                
08       other transactions regarding them with, a federal agency, an agency or instrumentality                            
09       of the state, a municipality, a private organization, or other source;                                            
10 (10)  to deposit or invest its funds, subject to agreements with                                                        
11       bondholders;                                                                                                      
12 (11)  to enter into contracts or agreements with respect to the exercise                                                
13 of any of its powers, and do all things necessary or convenient to carry out its                                        
14       corporate purposes and exercise the powers granted in this chapter;                                               
15 (12)  to purchase or insure loans to finance the costs of manufacturing,                                                
16       industrial, and business enterprise projects;                                                                     
17 (13)  to enter into loan agreements with respect to one or more projects                                                
18       upon the terms and conditions the authority considers advisable;                                                  
19 (14)  to acquire, manage, and operate projects as the authority considers                                               
20       necessary or appropriate to serve a public purpose;                                                               
21 (15)  to assist private lenders to make loans to finance the costs of                                                   
22       projects through loan commitments, short-term financing, or otherwise;                                            
23 (16)  to accept gifts, grants, or loans from a federal agency, from an                                                  
24       agency or instrumentality of the state or of a municipality, or from any other source;                            
25 (17)  to enter into contracts or other transactions with a federal agency,                                              
26 with an agency or instrumentality of the state or of a municipality, or with a private                                  
27 organization or other entity consistent with the exercise of any power under this                                       
28       chapter;                                                                                                          
29 (18)  to facilitate the expansion of a secondary market for the resale of                                               
30 federally or commercially insured loans made to finance the costs of projects in the                                    
31 state held by federal and state chartered financial institutions or by the Alaska                                       

01       Commercial Fishing and Agriculture Bank;                                                                          
02 (19)  to charge fees or other forms of remuneration for the use or                                                      
03 possession of the projects described in (14) of this section in accordance with the                                     
04 agreements described in (11) and (17) of this section, other agreements pertaining to                                   
05 the projects, covenants, or representations made in bond documents pertaining to the                                    
06       projects, or regulations of the authority pertaining to the projects;                                             
07 (20)  to participate with government or private industry in programs for                                                
08 technical assistance, loans, technology, transfer, or other programs related to the                                     
09 exportation of goods, services, or raw materials of the state with respect to its                                       
10       financing activities;                                                                                             
11 (21)  to provide export finance training for office staff and other                                                     
12 individuals involved in export finance assistance, including the training sessions that                                 
13       may be provided by the United States Export-Import Bank or other organizations;                                   
14 (22)  to coordinate to the maximum extent possible its efforts to                                                       
15 promote the export of goods, services, and raw materials of the state with programs                                     
16 and goals of the United States Export-Import Bank, the International Trade                                              
17 Administration of the United States Department of Commerce, the Foreign Credit                                          
18 Insurance Association, and other private and public programs designed to provide                                        
19       export assistance and export-related financing;                                                                   
20 (23)  to guarantee loans related to qualified export transactions under                                                 
21       regulations adopted by the authority;                                                                             
22 (24)  to provide financing assistance, in cooperation with federal, state,                                              
23       and private institutions, as provided in this chapter for small business enterprises;                             
24 (25)  to make cooperative agreements with the Department of                                                             
25 Transportation and Public Facilities, acting on behalf of the international airports                                    
26 revenue fund established under AS 37.15.430, to acquire, equip, operate, maintain,                                      
27 construct, or install facilities that will enhance the competitiveness of the international                             
28 airports, including a cooperative agreement to lend amounts from the international                                      
29 airports revenue fund to finance the development or improvement of utilities serving                                    
30       the airports;                                                                                                     
31 (26)  to screen potential applicants for a new business incentive grant                                                 

01       and recommend the award of the grants under AS 45.81.020;                                                         
02                 (27)  to oversee the administration of outstanding grants awarded by the                                
03 Alaska Science and Technology Foundation under former AS 37.17.010 - 37.17.110;                                         
04 (28)  to oversee the administration of outstanding BIDCO assistance                                                     
05 grants and loans made by the Alaska Science and Technology Foundation under                                             
06       former AS 37.17.200 - 37.17.390;                                                                                  
07 (29)  to guarantee loans made to the Alaska Insurance Guaranty                                                          
08 Association (AS 21.80.040), with these guarantees limited to loans necessary to make                                    
09 the association financially able to meet cash flow needs up to a maximum outstanding                                    
10       principal balance at any time of $30,000,000;                                                                     
11 (30)  with legislative approval and notwithstanding AS 44.88.060, to                                                    
12 purchase from the Alaska Energy Authority as an investment of the revolving fund,                                       
13       loans of the power project fund established under AS 42.45.010;                                                   
14 (31)  to consider, when exercising the powers listed in this section, the                                               
15 interests of local governments affected by the authority's activities to share in the                                   
16 benefits of these activities, with appropriate consideration of the authority's ability to                              
17       meet debt obligations, issue new debt, and fulfill the authority's purposes;                                      
18 (32)  to provide development project financing for all or a portion of                                                  
19       the cost of a development project as provided in AS 44.88.172;                                                
20 (33)  to provide various means of financing and means of                                                            
21 facilitating the financing of construction of new workforce housing facilities                                      
22       containing five or more dwelling units.                                                                       
23    * Sec. 3. AS 44.88.900(6) is amended to read:                                                                      
24 (6)  "development project" has the meaning given to "project" in                                                        
25       (13)(A), [AND] (D) - (H), and (J) of this section;                                                        
26    * Sec. 4. AS 44.88.900(13) is amended to read:                                                                     
27                 (13)  "project" means                                                                                   
28 (A)  a plant or facility used or intended for use in connection                                                         
29 with making, processing, preparing, transporting, or producing in any manner,                                           
30 goods, products, or substances of any kind or nature or in connection with                                              
31 developing or utilizing a natural resource, or extracting, smelting, transporting,                                      

01            converting, assembling, or producing in any manner, minerals, raw materials,                                 
02            chemicals, compounds, alloys, fibers, commodities and materials, products, or                                
03            substances of any kind or nature;                                                                            
04                      (B)  a plant or facility used or intended for use in connection                                    
05            with a business enterprise;                                                                                  
06                      (C)  commercial activity by a business enterprise;                                                 
07 (D)  a plant or facility demonstrating technological advances of                                                        
08 new methods and procedures and prototype commercial applications for the                                                
09 exploration, development, production, transportation, conversion, and use of                                            
10            energy resources;                                                                                            
11 (E)  infrastructure for a new tourism destination facility or for                                                       
12 the expansion of a tourism destination facility; in this subparagraph, "tourism                                         
13 destination facility" does not include a hotel or other overnight lodging facility;                                     
14 (F)  a plant or facility, other than a plant or facility described in                                                   
15 (D) of this paragraph, for the generation, transmission, development,                                                   
16            transportation, conversion, or use of energy resources;                                                      
17 (G)  a plant or facility that enhances, provides for, or promotes                                                       
18 economic development with respect to transportation, communications,                                                    
19 community public purposes, technical innovations, prototype commercial                                                  
20            applications of intellectual property, or research;                                                          
21 (H)  a plant or facility used or intended for use as a federal                                                          
22 facility, including a United States military, national guard, or coast guard                                            
23            facility;                                                                                                    
24 (I)  infrastructure for an area that is designated as a military                                                        
25            facility zone under AS 26.30;                                                                                
26 (J)  a new workforce housing facility containing five or more                                                       
27            dwelling units;                                                                                          
28    * Sec. 5. AS 44.88.900 is amended by adding a new paragraph to read:                                               
29 (20)  "workforce housing" means residential housing that costs the                                                      
30 occupants less than 30 percent of the income of a household with 120 percent of the                                     
31 area median family income, as determined by the United States Department of                                             

01       Housing and Urban Development, for where the housing is constructed.