This bill amends the registration requirements for commercial vessels in Alaska and modifies the handling of proceeds from the sale of derelict vessels. Specifically, it introduces an exemption for commercial vessels that possess a valid certificate of documentation from the United States Coast Guard and a license issued under Alaska state law. Additionally, the bill clarifies that proceeds from the sale of impounded vessels will now be deposited into the general fund rather than the previously established Derelict Vessel Prevention Program Fund, which is being repealed.

Furthermore, the bill includes a transition provision that allows any remaining balance in the derelict vessel prevention program fund to lapse into the general fund, subject to appropriation. This change reflects a shift in how the state will manage funds related to derelict vessels, consolidating resources into the general fund rather than maintaining a separate program. Overall, the bill aims to streamline vessel registration and improve the financial management of funds related to derelict vessels.

Statutes affected:
HB0031A, AM HB 31, introduced 01/10/2025: 05.25.055, 16.05.490, 16.05.530, 30.30.055, 30.30.096, 30.30.095, 37.05.146
HB0031Z, AM Enrolled HB 31, introduced 05/20/2025: 05.25.055, 16.05.490, 16.05.530, 30.30.055, 30.30.096, 30.30.095, 37.05.146