The bill amends AS 44.88.040 to establish a formal term for the chair of the Alaska Industrial Development and Export Authority. It specifies that the members of the authority will elect a chair every two years, replacing the previous indefinite term. Additionally, the bill updates the terminology by changing "chairman" and "vice-chairman" to "chair" and "vice-chair," respectively.

Furthermore, the bill clarifies the roles of the chair and vice-chair, stating that the vice-chair will preside over meetings in the absence of the chair and will have other duties as directed by the authority. This legislative change aims to modernize the language used in the law and ensure a structured leadership term within the authority.

Statutes affected:
SB0202A, AM SB 202, introduced 01/09/2026: 44.88.040