State of Alaska
Fiscal Note
Bill Version: CSHB 154(FIN)
2024 Legislative Session
Fiscal Note Number: 8
(H) Publish Date: 4/29/2024
Identifier: HB154-DOR-AHFC-04-06-24 Department: Department of Revenue
Title: AK HOUSING FINANCE CORP: SUSTAIN Appropriation: Alaska Housing Finance Corporation
ENERGY Allocation: AHFC Operations
Sponsor: RLS BY REQUEST OF THE GOVERNOR OMB Component Number: 110
Requester: House Finance
Expenditures/Revenues
Note: Amounts do not include inflation unless otherwise noted below. (Thousands of Dollars)
Included in
FY2025 Governor's
Appropriation FY2025 Out-Year Cost Estimates
Requested Request
OPERATING EXPENDITURES FY 2025 FY 2025 FY 2026 FY 2027 FY 2028 FY 2029 FY 2030
Personal Services 300.0 300.0 300.0 300.0 300.0 300.0
Travel 25.0 25.0 25.0 25.0 25.0 25.0
Services 75.0 75.0 75.0 75.0 75.0 75.0
Commodities 50.0 50.0 50.0 50.0 50.0 50.0
Capital Outlay
Grants & Benefits
Miscellaneous
Total Operating 450.0 0.0 450.0 450.0 450.0 450.0 450.0
Fund Source (Operating Only)
1004 Gen Fund (UGF) 450.0 450.0 450.0 450.0 450.0 450.0
Total 450.0 0.0 450.0 450.0 450.0 450.0 450.0
Positions
Full-time 2.0 2.0 2.0 2.0 2.0 2.0
Part-time
Temporary
Change in Revenues
None
Total 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Estimated SUPPLEMENTAL (FY2024) cost: 0.0 (separate supplemental appropriation required)
Estimated CAPITAL (FY2025) cost: 40,000.0 (separate capital appropriation required)
Does the bill create or modify a new fund or account? Yes
(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? Yes
If yes, by what date are the regulations to be adopted, amended or repealed? 07/01/24
Why this fiscal note differs from previous version/comments:
Updated for FY2025 Legislative Session. This version reflects changes adopted in the committee substitute in 2024, including an
immediate effective date. This update also places the $40 million capital amount in the estimated capital line.
Prepared By: James Wiedle, Budget Director Phone: (907)330-8359
Division: Alaska Housing Finance Corporation Date: 04/06/2024 08:44 PM
Approved By: Adam Bryan, Budget Manager Date:
OUT OF 04/06/24
Agency: Department of Revenue REPORTED
Printed 4/26/2024 Page 1 of 2 HFC 04/26/2 024
Control Code: Dbhbh
 CSHB 154(FIN) - Fiscal Note 8
FISCAL NOTE ANALYSIS
STATE OF ALASKA BILL NO. HB 154
2024 LEGISLATIVE SESSION
Analysis
The proposed legislation amends existing AHFC statutes to authorize creation of a nonprofit subsidiary corporation for the
purpose of sustainable energy development through a sustainable energy fund, identified as the “Alaska Energy
Independence Fund.” The subsidiary will use federal grants, AHFC deposits, unrestricted loan payments, interest, or other
income earned on loans, investments, or assets of the fund to make loans, secure bonds, loan guarantees, credit
enhancements, equity capital, indirect funding, and other financial products.
This fiscal note identifies the initial capital investment and budget authority necessary for the subsidiary to achieve its
stated purpose. Based on analysis of prior bills introduced in the Alaska Legislature, (SB123, HB 170), the Alaska Energy
Independence Fund would require a total of $40 million in FY2024 Capital funding, with $20 million in federal receipt
authority and $20 million in unrestricted general funds. The unrestricted general funds are required for the inital capital of
the program and fund initial program start-up costs.
Additionally, this fiscal note requests the required operating funds as Unrestricted General Funds (UGF). There would be
annual operating costs, estimated to be approximately $450.0. Operating costs would include two PCNs for a Program
Manager (Range 22) and a Program Assistant (Range 17) at an annual cost of $300.0. As well as, anticipated travel,
contractual services, and supply expenses in the operating budget for a total of $150.0.
Revenues generated from the fund are expected to sustain operating expenses starting in FY2025. Operating budget
authority will be necessary for these operating expenses.
Additional federal and statutory designated program receipt authority may be necessary in subsequent fiscal years as
related funding opportunities are identified.
This fiscal note includes an immediate effective date of 7/1 2024.
(Revised 10/31/2023 OMB/LFD) Page 2 of 2
HB154-DOR-AHFC-04-06-24 Page 2 of 2 Control Code: Dbhbh


Statutes affected:
HB0154A, AM HB 154, introduced 04/05/2023: 18.56.010, 18.56.086, 10.20.146, 10.20.166, 37.15.903, 18.56.090, 37.10.071, 37.10.010, 37.10.040, 37.25.050, 37.05.130, 37.05.140, 44.99.115, 18.56.088, 18.56.900
HB0154B, AM CSHB 154(ENE), introduced 04/19/2023: 18.56.010, 18.56.086, 10.20.146, 10.20.166, 37.15.903, 18.56.090, 37.10.071, 13.36.230, 13.36.290, 37.10.010, 37.10.040, 37.25.050, 37.05.130, 37.05.140, 44.99.115, 18.56.088, 18.56.900
HB0154C, AM CSHB 154(FIN), introduced 04/29/2024: 18.56.010, 18.56.086, 10.20.146, 10.20.166, 37.15.903, 44.99.115, 18.56.090, 18.56.900