The bill establishes the Alaska Gasline Finance Corporation as a public corporation within the Department of Revenue, tasked with financing a natural gas pipeline in the state. It outlines the governance structure, which includes a board of directors made up of four public members appointed by the governor and the commissioner of revenue. The public members are required to have expertise in relevant fields such as natural gas project financing and will serve staggered terms of five years. The corporation is granted the authority to enter into agreements with other state agencies and to contract for various necessary services to facilitate the financing of the pipeline.

Additionally, the bill allows for the creation of a fund within the corporation, which will consist of legislative appropriations, proceeds from the sale of ownership shares in the pipeline, and other corporate funds. It also introduces a provision enabling applicants for the Alaska permanent fund dividend to invest their dividends in shares of the natural gas pipeline, with specific conditions regarding the investment amount and duration of dividend payments. The bill includes a provision for the governor to set the terms for the initially appointed public members of the board, deviating from standard regulations.

Statutes affected:
SB0125A, AM SB 125, introduced 03/12/2025: 43.23.135, 37.10.070, 31.27.050, 31.27.060, 31.27.090, 31.25.390, 43.23.200, 43.23.130, 43.23.230, 43.23.015