AIDEA: WORKFORCE HOUSING DEV.; MUNI TAX, the official text

00Enrolled HB 184
01Relating to financing by the Alaska Industrial Development and Export Authority for 
02 workforce housing development projects; relating to a mandatory exemption from municipal 
03 property taxes for certain assets of the Alaska Industrial Development and Export Authority; 
04 and providing for an effective date by repealing the effective date of sec. 2, ch. 64, SLA 2018. 
05 _______________ 
06 * Section 1. AS 44.88.070 is amended to read: 
07 Sec. 44.88.070. Purpose of the authority. The purpose of the authority is to 
08 promote, develop, and advance the general prosperity and economic welfare of the 
09 people of the state, to relieve problems of unemployment, and to create additional 
10 employment by 
11 (1) providing various means of financing and means of facilitating the 
12 financing, in cooperation with federal, state, and private institutions, of industrial,

01 manufacturing, energy, export, small business, and business enterprises and the other 
02 facilities referred to in AS 44.88.010(a) in the state; 
03 (2) owning and operating or providing development project financing 
04 for the enterprises and other facilities described in AS 44.88.172; 
05 (3) fostering the expansion of exports of goods, services, and raw 
06 materials of the state; 
07 (4) cooperating and acting in conjunction with other organizations, 
08 public and private, the objects of which are the promotion and advancement of export 
09 trade activities in the state; 
10 (5) establishing a source of funding credit guarantees and insurance, 
11 not otherwise available, to support export development; 
12 (6) providing and cooperating or participating with federal, state, and 
13 private institutions to provide actual and potential state exporters, particularly small- 
14 and medium-sized exporters, with financial assistance in support of export 
15 transactions; 
16 (7) providing various means of financing and means of facilitating 
17 the financing of construction of new workforce housing facilities containing three 
18 or more dwelling units. 
19 * Sec. 2. AS 44.88.080 is amended to read: 
20 Sec. 44.88.080. Powers of the authority. In furtherance of its corporate 
21 purposes, the authority has the following powers in addition to its other powers: 
22 (1) to sue and be sued; 
23 (2) to have a seal and alter it at pleasure; 
24 (3) to make and alter bylaws for its organization and internal 
25 management; 
26 (4) to adopt regulations governing the exercise of its corporate powers; 
27 (5) to acquire an interest in a project as necessary or appropriate to 
28 provide financing for the project, whether by purchase, gift, or lease; 
29 (6) to lease to others a project acquired by it for the rentals and upon 
30 the terms and conditions the authority may consider advisable, including, without 
31 limitation, provisions for options to purchase or renew;

01(7) to issue bonds and otherwise to incur indebtedness, in accordance 
02 with AS 44.88.090, in order to pay the cost of a project or development projects or in 
03 order to provide money for the authority's purposes under this chapter; the authority 
04 may also secure payment of the bonds or other indebtedness as provided in this 
05 chapter; 
06 (8) to sell, by installment sale or otherwise, exchange, donate, convey, 
07 or encumber, in any manner by mortgage or by creation of any other security interest, 
08 real or personal property owned by it, or in which it has an interest, including a 
09 project, when, in the judgment of the authority, the action is in furtherance of its 
10 corporate purposes; 
11 (9) to accept gifts, grants, or loans from, and enter into contracts or 
12 other transactions regarding them with, a federal agency, an agency or instrumentality 
13 of the state, a municipality, a private organization, or other source; 
14 (10) to deposit or invest its funds, subject to agreements with 
15 bondholders; 
16 (11) to enter into contracts or agreements with respect to the exercise 
17 of any of its powers, and do all things necessary or convenient to carry out its 
18 corporate purposes and exercise the powers granted in this chapter; 
19 (12) to purchase or insure loans to finance the costs of manufacturing, 
20 industrial, and business enterprise projects; 
21 (13) to enter into loan agreements with respect to one or more projects 
22 upon the terms and conditions the authority considers advisable; 
23 (14) to acquire, manage, and operate projects as the authority considers 
24 necessary or appropriate to serve a public purpose; 
25 (15) to assist private lenders to make loans to finance the costs of 
26 projects through loan commitments, short-term financing, or otherwise; 
27 (16) to accept gifts, grants, or loans from a federal agency, from an 
28 agency or instrumentality of the state or of a municipality, or from any other source; 
29 (17) to enter into contracts or other transactions with a federal agency, 
30 with an agency or instrumentality of the state or of a municipality, or with a private 
31 organization or other entity consistent with the exercise of any power under this

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

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

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

01 * Sec. 5. Section 2, ch. 64, SLA 2018, is repealed. 
02 * Sec. 6. Section 26, ch. 64, SLA 2018, is repealed.