CSSB 50(RES): "An Act amending the definition of 'qualified energy development'; relating to the financing authorization through the Alaska Industrial Development and Export Authority of a liquefied natural gas production plant and natural gas energy projects and distribution systems in the state; requiring the Alaska Industrial Development and Export Authority to deliver to the legislature reports relating to the Interior energy project; and providing for an effective date."
00 CS FOR SENATE BILL NO. 50(RES) 01 "An Act amending the definition of 'qualified energy development'; relating to the 02 financing authorization through the Alaska Industrial Development and Export 03 Authority of a liquefied natural gas production plant and natural gas energy projects 04 and distribution systems in the state; requiring the Alaska Industrial Development and 05 Export Authority to deliver to the legislature reports relating to the Interior energy 06 project; and providing for an effective date." 07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 08 * Section 1. The uncodified law of the State of Alaska is amended by adding a new section 09 to read: 10 LEGISLATIVE INTENT. It is the intent of the legislature that 11 (1) the increased geographic flexibility provided in sec. 3 of this Act solely 12 advance the Interior energy project, a project first authorized by the legislature in ch. 26, SLA 13 2013. The goals of the Interior energy project are to bring affordable natural gas to as many
01 residents of Interior Alaska communities as possible as quickly as possible. This Act does not 02 expand the scope of the project nor authorize any other activity beyond accomplishing those 03 stated goals; 04 (2) the Alaska Industrial Development and Export Authority use an open and 05 competitive solicitation process to select private entities to participate in developing the 06 liquefied natural gas production plant capacity and affiliated infrastructure described in this 07 Act. 08 * Sec. 2. AS 44.88.900(16) is amended to read: 09 (16) "qualified energy development" means a development in the state 10 that involves 11 (A) transmission, generation, conservation, storage, or 12 distribution of heat or electricity; 13 (B) liquefaction, regasification, distribution, storage, or use of 14 natural gas; in this subparagraph, "distribution" does not include 15 [EXCEPT] a natural gas pipeline project for transporting natural gas from the 16 North Slope or Cook Inlet to market unless the pipeline has a diameter of 12 17 inches or less and transports the natural gas to Interior Alaska; 18 (C) distribution or storage of refined petroleum products; 19 * Sec. 3. The uncodified law of the State of Alaska enacted in sec. 11(a), ch. 26, SLA 2013, 20 is amended to read: 21 (a) The Alaska Industrial Development and Export Authority, through the 22 Alaska Industrial Development and Export Authority sustainable energy transmission 23 and supply development fund (AS 44.88.660), may provide financing up to a principal 24 amount of $275,000,000 for the development, construction, and installation of, and the 25 start-up costs of operation and maintenance for, a liquefied natural gas production 26 plant and system and affiliated infrastructure in the state that will provide natural 27 gas to Interior Alaska as a primary market [ON THE NORTH SLOPE] and [A] 28 natural gas delivery and distribution systems [SYSTEM] and affiliated infrastructure 29 that will provide natural gas to [IN] Interior Alaska. 30 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to 31 read:
01 REPORT. (a) The Alaska Industrial Development and Export Authority shall submit 02 quarterly to the legislature a written report on the Interior energy project. The authority shall 03 deliver the report to the senate secretary and the chief clerk of the house of representatives 04 and notify the legislature that the report is available. The report must include 05 (1) a description of project progress on all components; 06 (2) an update on the status of local distribution infrastructure buildout; 07 (3) to-date and anticipated conversions; and 08 (4) a financial accounting of funds expended and funds anticipated to be spent, 09 including loans, grants, and bonds. 10 (b) If requested, the Alaska Industrial Development and Export Authority shall 11 provide a project briefing on the Interior energy project to the Legislative Budget and Audit 12 Committee. 13 * Sec. 5. Section 4 of this Act is repealed June 30, 2025. 14 * Sec. 6. This Act takes effect immediately under AS 01.10.070(c).