The bill establishes the Port of Southcentral Alaska Authority as a public corporation responsible for managing and operating the Port of Southcentral Alaska in Anchorage. This authority will oversee various assets, including the seaport, rail, and industrial properties, with a board of directors composed of state commissioners and seven public members appointed by local officials. The board is tasked with ensuring the authority's financial sustainability, managing legal obligations, and applying for legislative appropriations as needed. The bill also outlines the authority's powers, including the ability to issue revenue bonds, manage property, and enter into contracts, while mandating the transfer of certain properties from the Municipality of Anchorage and the Matanuska-Susitna Borough.

Additionally, the bill includes provisions for the authority to obtain a fidelity bond for its board members and executive officers, as well as various types of insurance to protect its assets. It grants the authority the power of eminent domain for land acquisition and requires the preparation of an annual report on its operations. Transitional provisions mandate the transfer of specific properties and funds from local municipalities to the authority within 180 days of enactment, while ensuring that the authority's employees retain their collective bargaining rights. The legislation emphasizes public involvement and transparency, requiring public meetings and adherence to industry standards, and takes effect immediately upon passage.

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