The proposed bill, known as 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, which will now consist of the commissioner of revenue, the commissioner of commerce, and a total of six public members—four appointed by the governor and confirmed by the legislature, one representing an environmental advocacy organization, and one appointed by the president of the senate and the speaker of the house. The terms for public members will be staggered for three years, replacing the previous two-year terms. Additionally, the authority is required to adopt regulations establishing a personnel policy and minimum qualifications for the executive director.

The bill also introduces new oversight measures for projects exceeding $10 million, requiring public hearings and legislative approval, as well as a limit on the aggregate value of AIDEA funds and accounts set at $500 million. It mandates annual reviews of the authority's assets and the publication of detailed reports on its activities, including job creation and financial performance. Furthermore, the authority must obtain written approval from the attorney general before filing lawsuits and must provide public notice of regulatory changes with opportunities for public input. The act 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