The bill aims to enhance the development of an in-state natural gas pipeline by the Alaska Gasline Development Corporation, focusing on maximizing benefits for the state and its residents. Key amendments to AS 31.25.005 include the requirement for the pipeline to include a direct spur line to the City of Fairbanks and the Fairbanks North Star Borough. The corporation is tasked with ensuring that the pipeline and related projects provide economic benefits and revenue to the state while delivering natural gas, propane, and other hydrocarbons at the lowest possible rates to various communities.

Additionally, the bill introduces a new subsection to AS 43.55.011, which mandates the department to separately account for taxes levied on gas transported through the newly developed pipeline infrastructure. This accounted amount can then be appropriated by the legislature for constructing natural gas line connections to businesses and residences. The bill is set to take effect immediately upon enactment.

Statutes affected:
HB0119A, AM HB 119, introduced 02/26/2025: 31.25.005
HB0119B, AM CSHB 119(STA), introduced 05/07/2025: 31.25.005, 38.34.040, 43.55.011