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 relevant expertise in natural gas project financing and will serve staggered terms of five years, with the governor having the authority to fill any vacancies. The corporation is granted the power to enter into agreements with other state agencies and to contract for various financial services necessary for the pipeline's financing.

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 direct their dividend payments towards purchasing shares in the natural gas pipeline, provided they commit to using their dividends for at least three consecutive years. The bill includes specific regulations regarding the share offerings and stipulates that public agencies cannot make share purchases on behalf of individuals claiming dividends.

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