The proposed bill, titled the AIDEA Accountability Act, aims to amend the governance structure and operational procedures of the Alaska Industrial Development and Export Authority (AIDEA). Key changes include the reduction of public members on the authority from five to four, with the addition of specific appointments: one member representing an environmental advocacy organization, one appointed by the president of the senate, and one by the speaker of the house, both of whom must be former legislators or meet certain qualifications. The terms for public members will now be staggered three-year terms instead of two-year terms at the governor's pleasure. Additionally, the bill mandates that the authority adopt regulations establishing a personnel policy, including minimum qualifications for the executive director, and requires public notice and justification for regulatory changes.

Further provisions in the bill include a limit on the aggregate value of AIDEA's funds and accounts to $500 million, with unexpended funds lapsing into the general fund at the end of each fiscal year. The authority must also conduct thorough project oversight for expenditures exceeding $10 million, including public hearings and legislative approval. Other amendments enhance transparency and accountability, such as requiring annual reports to the legislature and the public, detailing the authority's activities and financial status, and mandating attorney general approval before filing lawsuits. The bill is set to take effect on January 1, 2027.

Statutes affected:
HB0124A, AM HB 124, introduced 03/05/2025: 44.88.030, 44.88.050, 44.88.080, 44.88.225, 44.88.085, 44.88.088, 44.88.180, 44.88.205, 44.88.070, 44.88.200, 44.88.210, 44.88.215, 40.25.110, 40.25.220, 44.88.380