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 initial terms set at two, three, and five years for the first appointees. The corporation is empowered to enter into agreements with other state agencies and 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. This provision prohibits applicants from making other contributions or donations while opting for the share purchase.

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