The bill amends the Alaska Industrial Development and Export Authority (AIDEA) statutes to include provisions for financing the construction of new workforce housing facilities. Specifically, it adds a new purpose for the authority to provide various means of financing for workforce housing projects that contain five or more dwelling units. This addition aims to address the need for affordable housing options for residents, particularly those earning up to 120 percent of the median family income, as defined by the U.S. Department of Housing and Urban Development.

Additionally, the bill updates the definitions within the existing law to include "workforce housing" and specifies that a "project" now encompasses new workforce housing facilities. The amendments also clarify the authority's powers, allowing it to facilitate financing for these housing projects alongside its existing responsibilities related to industrial and export development. Overall, the bill seeks to enhance economic welfare by promoting both job creation and the availability of affordable housing in 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