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Alaska2026Passed Legislature

SB125

Alaska Gasline Finance Corporation Act

Last scannedSep 12, 2026, 4:46 AM

In one sentence

This law creates the Alaska Gasline Finance Corporation to raise money for building a natural gas pipeline and allows residents to invest their entire Permanent Fund Dividend into shares of the project.

What it does

  • Establishes the Alaska Gasline Finance Corporation within the Department of Revenue as a public corporation managed by a board of directors.
  • Creates a fund that holds money from legislative appropriations, share sales, and other deposits to finance the pipeline.
  • Allows the corporation to sell shares in the natural gas pipeline to the general public with a minimum investment of $2,500 after the initial offering.
  • Permits residents to direct their entire Permanent Fund Dividend payment into these pipeline shares instead of receiving cash.
  • Requires individuals who invest their dividend to agree to do so for at least three consecutive years.

Who it affects

  • The Alaska Gasline Finance Corporation and its board members
  • Alaska residents eligible to receive the Permanent Fund Dividend
  • Parents, guardians, or authorized representatives acting on behalf of individuals regarding dividend payments

Limits and unknowns

  • There is no penalty if someone breaks their agreement to invest dividends for three consecutive years.
  • The official effective date of this act has not been specified in the provided text.
  • Public agencies claiming a dividend on behalf of an individual cannot elect to make a share purchase.

Plain language

Terms to know

Permanent Fund Dividend
An annual payment from state oil revenues that residents can choose to invest in pipeline shares instead of receiving as cash.
Natural Gas Pipeline
A system for moving natural gas across the state, defined by existing law AS 31.25.390.

Official record

Sources

Validated
Official bill pageIntroduced textCurrent bill text

Official summary

AK GASLINE FINANCE CORPORATION An Act establishing the Alaska Gasline Finance Corporation; and relating to contributions from permanent fund dividends for the financing of a natural gas pipeline.

Official activity

Bill history

  1. (S) Minutes (SRES)Min
  2. (S) Heard & HeldText
  3. (S) RESOURCES at 03:30 PM BUTROVICH 205Text
  4. (S) REFERRED TO RESOURCES490
  5. (S) RES, FIN490
  6. (S) READ THE FIRST TIME - REFERRALS490