State of Alaska
Fiscal Note
Bill Version: HB 74
2021 Legislative Session
Fiscal Note Number: 1
(H) Publish Date: 2/18/2021
Identifier: 0713-DOR-AHFC-1-15-2021 Department: Department of Revenue
Title: AHFC WATER & SEWER Appropriation: Alaska Housing Finance Corporation
BONDS/TRANSPORTATION Allocation: AHFC Operations
Sponsor: RLS BY REQUEST OF THE GOVERNOR OMB Component Number: 110
Requester: Governor
Expenditures/Revenues
Note: Amounts do not include inflation unless otherwise noted below. (Thousands of Dollars)
Included in
FY2022 Governor's
Appropriation FY2022 Out-Year Cost Estimates
Requested Request
OPERATING EXPENDITURES FY 2022 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
Personal Services
Travel
Services
Commodities
Capital Outlay
Grants & Benefits
Miscellaneous
Total Operating 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Fund Source (Operating Only)
None
Total 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Positions
Full-time
Part-time
Temporary
Change in Revenues
1004 Gen Fund (UGF) (6,900.0) (6,900.0) (6,900.0) (6,900.0) (6,900.0) (6,900.0)
Total (6,900.0) 0.0 (6,900.0) (6,900.0) (6,900.0) (6,900.0) (6,900.0)
Estimated SUPPLEMENTAL (FY2021) cost: 0.0 (separate supplemental appropriation required)
Estimated CAPITAL (FY2022) cost: 0.0 (separate capital appropriation required)
Does the bill create or modify a new fund or account? No
(Supplemental/Capital/New Fund - discuss reasons and fund source(s) in analysis section)
ASSOCIATED REGULATIONS
Does the bill direct, or will the bill result in, regulation changes adopted by your agency? No
If yes, by what date are the regulations to be adopted, amended or repealed?
Why this fiscal note differs from previous version/comments:
Not applicable, initial version.
Prepared By: James Wiedle, Budget Director Phone: (907)330-8359
Division: Alaska Housing Finance Corporation Date: 01/15/2021 04:30 PM
Approved By: Brian Fechter, Administrative Services Director Date: 01/15/2021
Agency: Department of Revenue
Printed 2/18/2021 Page 1 of 2 Control Code: aNDYy
 HB 74 - Fiscal Note 1
FISCAL NOTE ANALYSIS
STATE OF ALASKA BILL NO.
2021 LEGISLATIVE SESSION
Analysis
The proposed legislation authorizes the issuance of $101,630.0 in bonds by the Alaska Housing Finance Corporation
(AHFC) for safe and clean water and hygienic sewage disposal facility capital projects and highway and airport
transportation projects.
Under AS 18.56.089(2)(a), activities of the corporation that relate to the issuance of obligations and the repayment of
debt obligations are exempt from the provisions of the Executive Budget Act. These costs are included in the bond
authorizations of the bill. Debt service and other costs associated with bonds issued under this legislation will be paid
from the annual AHFC dividend to the state general fund under AS 18.56.089(c). This bond issuance will result in a
reduction in the annual dividend, reflected on page one of the fiscal note as a reduction in UGF revenue of $6.9 million.
The term of the bonds is expected to be 15-20 years.
The $6.9 million estimated for annual debt service and other costs is based on a number of assumptions, including future
interest rates and bond ratings. Operational costs for issuing and monitoring these bonds will be done with existing
personnel and within the authorized operating budget for FY2022 and beyond. No new budget authorizations are
necessary with this fiscal note.
(Revised 1/13/2021 OMB/LFD) Page 2 of 2
0713-DOR-AHFC-1-15-2021 Page 2 of 2 Control Code: aNDYy


Statutes affected:
HB0074A, AM HB 74, introduced 02/18/2021: 18.56.089
HB0074A, AM HB 74, introduced 02/01/2021: 18.56.089