The bill establishes the Alaska Innovation Council within the Department of Commerce, Community, and Economic Development, aimed at promoting economic growth and innovation in the state. It outlines the composition of the council, which will consist of 12 members, including state officials and appointees with expertise in entrepreneurship, investment, and community development. The bill specifies the qualifications for appointed members, their staggered three-year terms, and the council's operational procedures, including the election of a chair and the requirement for regular meetings.

Additionally, the council is tasked with advising various stakeholders on promoting research commercialization, stimulating investment in emerging industries, and developing entrepreneurship capabilities. It is required to prepare an annual innovation and economic competitiveness plan, detailing strategies for enhancing the state's economic landscape. The bill also includes transitional provisions for the initial terms of council members and the timeline for the first competitiveness plan, ensuring a structured implementation of the council's objectives.

Statutes affected:
HB0034A, AM HB 34, introduced 01/10/2025: 39.50.200, 44.33.850, 39.20.180, 44.33.860, 44.33.870, 44.33.880
HB0034B, AM CSHB 34(L&C), introduced 03/03/2025: 39.50.200, 44.33.850, 39.20.180, 44.33.860, 44.33.870, 44.33.880