Bill Summary – FastDemocracy

State of Alaska
                                                        Fiscal Note
                                                                                         Bill Version:                    CSHB 170(FIN)
 2022 Legislative Session
                                                                                         Fiscal Note Number:              8
                                                                                         (H) Publish Date:                5/11/2022
 Identifier:        HB170-CAP-AEIF-05-09-22(HFIN)                         Department:        Fund Capitalization
 Title:             ENERGY INDEPENDENCE PROGRAM & FUND:                   Appropriation: No Further Appropriation Required
                    AIDEA                                                 Allocation:        Alaska Energy Independence Fund
 Sponsor:           RLS BY REQUEST OF THE GOVERNOR                        OMB Component Number:
 Requester: House Finance Commite
 Expenditures/Revenues
 Note: Amounts do not include inflation unless otherwise noted below.                                                           (Thousands of Dollars)
                                                 Included in
                                    FY2023       Governor's
                                Appropriation      FY2023                                       Out-Year Cost Estimates
                                  Requested       Request
 OPERATING EXPENDITURES               FY 2023        FY 2023       FY 2024                 FY 2025           FY 2026            FY 2027       FY 2028
 Personal Services
 Travel
 Services
 Commodities
 Capital Outlay
 Grants & Benefits
 Miscellaneous                        20,000.0
 Total Operating                      20,000.0            0.0          0.0                       0.0                0.0              0.0          0.0
 Fund Source (Operating Only)
 1004 Gen Fund (UGF)                       20,000.0
 Total                                     20,000.0          0.0                 0.0             0.0                0.0              0.0          0.0
 Positions
 Full-time
 Part-time
 Temporary
 Change in Revenues
 None
 Total                                           0.0         0.0                 0.0             0.0                0.0              0.0          0.0
 Estimated SUPPLEMENTAL (FY2022) cost:                              0.0                (separate supplemental appropriation required)
 Estimated CAPITAL (FY2023) cost:                                   0.0                (separate capital appropriation required)
 Does the bill create or modify a new fund or account?       Yes
 (Supplemental/Capital/New Fund - discuss reasons and fund source(s) in analysis section)
 ASSOCIATED REGULATIONS
 Does the bill direct, or will the bill result in, regulation changes adopted by your agency?            Yes
 If yes, by what date are the regulations to be adopted, amended or repealed?                            01/01/22
 Why this fiscal note differs from previous version/comments:
 This version is proposed by the House Finance Committee to reflect a $20 million capitalization to ensure that the Alaska Energy
 Independence Fund has sufficient capital to achieve the goals articulated in HB 170.
 Prepared By:               Representative Foster                                                              Phone:         (907)465-3789
                            House Finance Committee                                                            Date:          05/09/2022
                            Representative Merrick
                                                                                                                       OUT OF
                            House Finance Committee                                                          REPORTED
Printed 5/10/2022                                                  Page 1 of 2                                HFC 05/10/2 022
                                                                                                                       Control Code: uzQlV
                                                                                                         CSHB 170(FIN) - Fiscal Note 8
                                                 FISCAL NOTE ANALYSIS
STATE OF ALASKA                                                                  BILL NO. HB 170
2022 LEGISLATIVE SESSION
Analysis
   This legislation would create and establish parameters for the Alaska Energy Independence Fund (Fund) and the Alaska
   Independence Program (Program) within the Alaska Industrial Development and Export Authority (AIDEA). It provides
   AIDEA with the ability to arrange financing to suit Alaska's unique energy and finance needs, particularly with regard to
   addressing urban and rural energy requirements. It is estimated that establishing the Fund would create new jobs and
   businesses, lower commercial and household energy costs for redeployment in Alaska's economy, and improve Alaska's
   energy independence.
   Proposed Fund Capitalization: $20 million
   The appropriation represents a level of capitalization to optimally fulfill the mission and growth of the Fund and to ensure
   that the Fund has sufficient capital to achieve the goals articulated in this legislation.
(Revised 11/23/2021 OMB/LFD)                                                                                       Page 2 of 2
HB170-CAP-AEIF-05-09-22(HFIN)                                  Page 2 of 2                                               Control Code: uzQlV
Statutes affected: 
HB0170A, AM HB 170, introduced 04/09/2021: 44.88.070, 44.88.010, 44.88.172, 44.88.159, 44.88.660, 44.88.650, 44.88.690, 44.88.810, 44.88.800, 44.88.840, 44.88.452, 44.88.450, 44.88.456, 44.88.155, 44.88.085, 44.88.178, 10.20.146, 10.20.166, 39.20.180, 44.88.060, 37.10.071, 37.10.010, 37.10.050, 37.25.050, 37.05.130, 37.05.140, 44.88.205, 44.88.454, 36.30.085, 29.55.100, 44.88.900
HB0170B, AM CSHB 170(ENE), introduced 04/21/2021: 39.25.110, 44.83.055, 44.88.450, 44.88.456, 44.88.030, 44.88.070, 44.88.010, 44.88.172, 44.88.159, 44.88.660, 44.88.650, 44.88.690, 44.88.810, 44.88.800, 44.88.840, 44.88.452, 44.88.155, 44.88.085, 44.88.178, 10.20.146, 10.20.166, 39.20.180, 44.88.060, 37.10.071, 37.10.010, 37.10.050, 37.25.050, 37.05.130, 37.05.140, 44.88.205, 44.88.454, 44.99.115, 36.30.085, 29.55.100, 42.45.100, 42.45.150, 44.88.900
HB0170C, AM CSHB 170(L&C), introduced 05/04/2021: 39.25.110, 44.83.055, 44.88.450, 44.88.456, 44.88.030, 44.88.070, 44.88.010, 44.88.172, 44.88.159, 44.88.660, 44.88.650, 44.88.690, 44.88.810, 44.88.800, 44.88.840, 44.88.452, 44.88.155, 44.88.085, 44.88.178, 10.20.146, 10.20.166, 39.20.180, 44.88.060, 37.10.071, 37.10.010, 37.10.050, 37.25.050, 37.05.130, 37.05.140, 44.88.205, 44.88.454, 44.99.115, 36.30.085, 29.55.100, 42.45.100, 42.45.150, 44.88.900
HB0170D, AM CSHB 170(FIN), introduced 05/11/2022: 39.25.110, 44.83.055, 44.88.450, 44.88.456, 44.88.030, 44.88.070, 44.88.010, 44.88.172, 44.88.159, 44.88.660, 44.88.650, 44.88.690, 44.88.810, 44.88.800, 44.88.840, 44.88.452, 44.88.155, 44.88.085, 44.88.178, 10.20.146, 10.20.166, 39.20.180, 44.88.060, 37.10.071, 37.10.010, 37.10.050, 37.25.050, 37.05.130, 37.05.140, 44.88.205, 44.88.454, 44.99.115, 42.45.100, 42.45.150, 36.30.085, 29.55.100, 44.88.900