00                             HOUSE BILL NO. 58                                                                          
01 "An Act authorizing the Alaska Industrial Development and Export Authority to                                           
02 finance or participate in the financing of a loan guarantee from the Alaska Industrial                                  
03 Development and Export Authority sustainable energy transmission and supply                                             
04 development fund in an amount not to exceed $275,000,000 for construction of a natural                                  
05 gas liquefaction facility on the North Slope."                                                                          
06 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
07    * Section 1. The uncodified law of the State of Alaska is amended by adding a new section                          
08 to read:                                                                                                                
09       LEGISLATIVE APPROVAL. (a) In furtherance of the goal of the sustainable energy                                    
10 transmission and supply development program to promote and provide financing for qualified                              
11 energy development in the state to alleviate unemployment and contribute to the state's                                 
12 economic welfare, economic diversity, and economic development under AS 44.88.650, the                                  
13 Alaska Industrial Development and Export Authority may finance or participate in financing a                            

01 loan guarantee in an amount not to exceed $275,000,000 for the construction of a natural gas                            
02 liquefaction facility on the North Slope, or may finance the construction of a natural gas                              
03 liquefaction facility on the North Slope in an amount greater than one-third the capital cost of                        
04 the development and in an amount not to exceed $275,000,000. This subsection constitutes                                
05 the approval required by AS 44.88.690(a).                                                                               
06       (b)  "North Slope" means that part of the state that lies north of 68 degrees North                               
07 latitude.