This bill amends existing laws regarding school bond debt reimbursement in Alaska, specifically extending the timeline for municipalities to apply for reimbursement for school construction or major maintenance projects. The bill changes the cutoff date for applications from July 1, 2025, to July 1, 2027, allowing municipalities to seek reimbursement for indebtedness authorized by qualified voters during the period from January 1, 2015, to July 1, 2027. Additionally, it includes provisions for the allocation of funds to municipalities for various school construction projects, with specific percentages of reimbursement based on the timing and type of indebtedness incurred.

Furthermore, the bill establishes that certain sections of the law will be repealed on July 1, 2027, and includes a retroactivity clause that makes the act effective from July 1, 2025, if it is enacted after that date. This retroactive provision ensures that municipalities can benefit from the extended reimbursement timeline as if it had been in effect since the earlier date. Overall, the bill aims to provide financial support to municipalities for school-related projects, thereby enhancing educational infrastructure in Alaska.

Statutes affected:
SB0184A, AM SB 184, introduced 04/25/2025: 14.11.014, 14.11.100, 14.07.020, 14.11.008, 14.11.102