The bill amends existing laws related to the Alaska Industrial Development and Export Authority (AIDEA) to include provisions for financing workforce housing development projects. Specifically, it introduces new language that allows AIDEA to provide various means of financing and facilitate the financing of the construction of new workforce housing facilities that contain five or more dwelling units. This addition is reflected in the amendments to AS 44.88.070 and AS 44.88.080, which outline the authority's purpose and powers, respectively.

Furthermore, the bill updates the definition of "development project" and "project" to include new workforce housing facilities, thereby expanding the scope of projects that AIDEA can support. The definition of "project" now explicitly includes "a new workforce housing facility containing five or more dwelling units." These changes aim to enhance AIDEA's role in addressing housing needs and promoting economic development within the state of Alaska.

Statutes affected:
HB0184A, AM HB 184, introduced 04/11/2025: 44.88.070, 44.88.010, 44.88.172, 44.88.080, 44.88.090, 37.15.430, 45.81.020, 37.17.010, 37.17.110, 37.17.200, 37.17.390, 21.80.040, 44.88.060, 42.45.010, 44.88.900
HB0184B, AM CSHB 184(CRA), introduced 05/15/2025: 44.88.070, 44.88.010, 44.88.172, 44.88.080, 44.88.090, 37.15.430, 45.81.020, 37.17.010, 37.17.110, 37.17.200, 37.17.390, 21.80.040, 44.88.060, 42.45.010, 44.88.900