The bill establishes the Port of Southcentral Alaska Authority as a public corporation responsible for the management and operation of the Port of Southcentral Alaska in Anchorage. It outlines the authority's governance structure, which includes a board of directors made up of state commissioners and appointed public members with specific qualifications. The board is tasked with overseeing the port's financial and legal obligations, ensuring self-sustaining management, and maintaining safe transportation services. The authority is granted the power to issue revenue bonds, manage property, and enter into necessary contracts, while also being mandated to obtain a fidelity bond for board members and executive officers.

Additionally, the bill requires the Municipality of Anchorage and the Matanuska-Susitna Borough to transfer property and funds to the authority within 180 days of the act's effective date. It includes provisions for the authority to exercise eminent domain, adopt land use rules, and manage its financial affairs, including annual audits and legislative reporting. The authority's employees will retain their collective bargaining agreements from the Port of Alaska, and existing rules will remain in effect until amended. The act takes effect immediately upon passage, ensuring that the authority can begin its operations promptly.

Statutes affected:
HB0007A, AM HB 7, introduced 01/10/2025: 30.19.120, 30.19.110, 30.19.150, 30.19.160, 30.19.170, 30.19.180, 30.19.200, 30.19.230, 30.19.210, 30.19.220, 30.19.240, 30.19.250, 30.19.260, 30.19.300, 30.19.310, 09.55.240, 09.55.460, 30.19.320, 30.19.330, 30.19.340, 30.19.350, U.S.C, 44.68.110, 44.68.140, 30.19.360, 30.19.400, 30.19.410, 30.19.420, 30.19.430, 30.19.440, 30.19.600, 30.19.610, 30.19.620, 30.19.630, 30.19.640, 30.19.650, 30.19.660, 30.19.670, 30.19.700, 30.19.710, 30.19.720, 23.40.070, 23.40.260, 30.19.900, 44.80.010, 30.19.910, 30.19.920, 37.10.010, 37.10.060, 37.10.085, 44.62.040, 44.62.320, 30.19.930, 30.19.990, 30.19.995