This bill amends existing laws related to carbon offset revenue and the renewable energy grant fund in Alaska. It mandates that the legislature appropriate the revenue generated from the carbon offset program, specifying that 20 percent will be allocated to the renewable energy grant fund, while the remaining 80 percent can be used for any public purpose. The bill also establishes a renewable energy grant fund aimed at providing affordable energy to all communities in Alaska and outlines the administration of this fund, which will include appropriations, gifts, and interest earned.

Additionally, the bill introduces several provisions to enhance the grant application process and project evaluation criteria. It requires the authority to develop methodologies for project assistance, provide technical assistance to smaller communities, and solicit grant applications annually. The authority is also empowered to make determinations regarding eligible projects without needing further legislative recommendations. Furthermore, the bill allows the authority to spend appropriated funds for grants without additional appropriation, ensuring that the funds do not lapse. The advisory committee responsible for overseeing these processes will elect a chair and meet as needed to facilitate its duties.

Statutes affected:
HB0196A, AM HB 196, introduced 04/15/2025: 38.95.430, 42.45.045, 37.05.142, 37.10.071