The proposed bill, titled the AIDEA Accountability Act, amends various sections of the Alaska Industrial Development and Export Authority (AIDEA) regulations to enhance accountability and oversight. Key changes include the restructuring of the authority's membership, reducing the number of public members from five to four, while adding specific requirements for appointments, such as confirmation by the legislature and representation from an environmental advocacy organization. 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 the authority to 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 impose stricter oversight on project expenditures exceeding $10 million, necessitating public hearings and legislative approval. It also establishes a limit on the aggregate value of AIDEA's funds and accounts at $500 million, with unexpended funds lapsing into the general fund at the end of each fiscal year. The authority is required to publish annual reports detailing its activities, financial status, and performance metrics, ensuring transparency and accountability to the legislature and the public. 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