KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Alaska

HB388 • 2026

BULK FUEL LOAN CAP

An Act relating to loans made from the bulk fuel loan account; and providing for an effective date.

Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
HOUSE FINANCE
Last action
2026-05-21
Official status
RTN TO (H) GOV NEXT
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

BULK FUEL LOAN CAP

BULK FUEL LOAN CAP An Act relating to loans made from the bulk fuel loan account; and providing for an effective date.

What This Bill Does

  • BULK FUEL LOAN CAP An Act relating to loans made from the bulk fuel loan account; and providing for an effective date.

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-05-21 3023

    (H) AWAITING TRANSMITTAL TO GOV

  2. 2026-05-20 2842

    (S) VERSION: CSHB 388(FIN)

  3. 2026-05-20 2842

    (S) RETURN TO (H), TRANSMIT TO GOV NEXT

  4. 2026-05-20 2842

    (S) EFFECTIVE DATE(S) SAME AS PASSAGE

  5. 2026-05-20 2842

    (S) PASSED Y20 N-

  6. 2026-05-20 2842

    (S) READ THE THIRD TIME CSHB 388(FIN)

  7. 2026-05-20 2842

    (S) ADVANCED TO THIRD READING UC

  8. 2026-05-20 2842

    (S) READ THE SECOND TIME

  9. 2026-05-20 2842

    (S) RULES TO CALENDAR 5/20/2026

  10. 2026-05-17 2711

    (S) FN2: INDETERMINATE(H.FIN/FUND TRANSFERS)

  11. 2026-05-17 2711

    (S) FN1: ZERO(CED)

  12. 2026-05-17 2711

    (S) NR: KAUFMAN, MERRICK

  13. 2026-05-17 2711

    (S) DP: OLSON, STEDMAN, HOFFMAN, CRONK, KIEHL

  14. 2026-05-17 2711

    (S) FIN RPT 5DP 2NR

  15. 2026-05-16 Text

    (S) Moved CSHB 388(FIN) Out of Committee -- Please Note Time Change --

  16. 2026-05-16 Text

    (S) FINANCE at 09:00 AM SENATE FINANCE 532

  17. 2026-05-14 Min

    (S) Minutes (SFIN)

  18. 2026-05-14 Text

    (S) Heard & Held -- Please Note Time Change --

  19. 2026-05-14 Text

    (S) FINANCE at 01:30 PM SENATE FINANCE 532

  20. 2026-05-14 2637

    (S) FIN

  21. 2026-05-14 2637

    (S) READ THE FIRST TIME - REFERRALS

  22. 2026-05-13 2561

    (H) VERSION: CSHB 388(FIN)

  23. 2026-05-13 2561

    (H) TRANSMITTED TO (S)

  24. 2026-05-13 2530

    (H) EFFECTIVE DATE(S) SAME AS PASSAGE

  25. 2026-05-13 2530

    (H) PASSED Y39 E1

  26. 2026-05-13 2529

    (H) READ THE THIRD TIME CSHB 388(FIN)

  27. 2026-05-13 2529

    (H) ADVANCED TO THIRD READING UC

  28. 2026-05-13 2529

    (H) FIN CS ADOPTED UC

  29. 2026-05-13 2529

    (H) READ THE SECOND TIME

  30. 2026-05-13 2529

    (H) RULES TO CALENDAR 5/13/2026

  31. 2026-05-12 2506

    (H) FN2: INDETERMINATE(H.FIN/FUND TRANSFERS)

  32. 2026-05-12 2506

    (H) FN1: ZERO(CED)

  33. 2026-05-12 2506

    (H) NR: STAPP, ALLARD, TOMASZEWSKI, MOORE

  34. 2026-05-12 2506

    (H) DP: JIMMIE, HANNAN, GALVIN, BYNUM, JOSEPHSON, SCHRAGE, FOSTER

  35. 2026-05-12 2506

    (H) FIN RPT CS(FIN) 7DP 4NR

  36. 2026-05-11 Text

    (H) Moved CSHB 388(FIN) Out of Committee -- Recessed to a Call of the Chair --

  37. 2026-05-11 Text

    (H) FINANCE at 01:30 PM ADAMS 519

  38. 2026-05-08 Text

    (H) Heard & Held

  39. 2026-05-08 Text

    (H) FINANCE at 01:30 PM ADAMS 519

  40. 2026-05-07 Text

    (H) Heard & Held

  41. 2026-05-07 Text

    (H) FINANCE at 01:30 PM ADAMS 519

  42. 2026-05-05 Text

    (H) Heard & Held

  43. 2026-05-05 Text

    (H) FINANCE at 01:30 PM ADAMS 519

  44. 2026-05-05 Text

    (H) Heard & Held -- Please Note Time Change --

  45. 2026-05-05 Text

    (H) FINANCE at 09:00 AM ADAMS 519

  46. 2026-05-01 2375

    (H) FIN

  47. 2026-05-01 2375

    (H) READ THE FIRST TIME - REFERRALS

Official Summary Text

BULK FUEL LOAN CAP
An Act relating to loans made from the bulk fuel loan account; and providing for an effective date.

Current Bill Text

Read the full stored bill text 
HB0388b -1- CSHB 388(FIN)
New Text Underlined [DELETED TEXT BRACKETED]

34-LS1670\N

CS FOR HOUSE BILL NO. 388(FIN)

IN THE LEGISLATURE OF THE STATE OF ALASKA

THIRTY-FOURTH LEGISLATURE - SECOND SESSION

BY THE HOUSE FINANCE COMMITTEE

Offered: 5/12/26
Referred: Rules

Sponsor(s): HOUSE FINANCE COMMITTEE
A BILL

FOR AN ACT ENTITLED

"An Act relating to loans made from the bulk fuel loan account; and providing for an 1
effective date." 2
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 3
* Section 1. AS 42.45.260(d) is amended to read: 4
(d) Loans made from the bulk fuel loan account to one borrower 5
(1) may not exceed $1,500,000 [$750,000] or, if the borrower is a 6
cooperative corporation organized under AS 10.15 or an electric cooperative 7
organized under AS 10.25 and uses the loan to purchase bulk fuel on behalf of more 8
than one community, may not exceed $1,500,000 [$750,000] multiplied by the number 9
of communities on whose behalf the bulk fuel is to be purchased [OR $1,800,000, 10
WHICHEVER IS LESS]; 11
(2) shall be repaid within one year after the date of the loan 12
disbursement; and 13
(3) may include additional terms and conditions required by the 14
34-LS1670\N
CSHB 388(FIN) -2- HB0388b
New Text Underlined [DELETED TEXT BRACKETED]

division. 1
* Sec. 2. AS 42.45.270(c) is amended to read: 2
(c) Loans made from the bulk fuel bridge loan account to one borrower in a 3
fiscal year 4
(1) may not exceed $1,500,000 [$750,000]; 5
(2) shall be repaid within one year after the date of the loan 6
disbursement; and 7
(3) may include additional terms and conditions required by the 8
division. 9
* Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 10
read: 11
APPROPRIATIONS TO THE BULK FUEL REVOLVING LOAN FUND. (a) For the 12
fiscal years ending June 30, 2026, and June 30, 2027, 13
(1) if the unexpended and unobligated balance of the bulk fuel revolving loan 14
fund (AS 42.45.250) is insufficient to make a loan to an eligible borrower as provided in 15
AS 42.45.260(d), as amended by sec. 1 of this Act, and AS 42.25.270(c), as amended by sec. 16
2 of this Act, the legislature may appropriate to the bulk fuel revolving loan fund the amount 17
necessary to make a loan to the eligible borrower; 18
(2) the legislature may appropriate an amount equal to an appropriation made 19
in (1) of this subsection, along with applicable interest, from the bulk fuel revolving loan fund 20
to the funding source from which the appropriation made in (1) of this subsection was made. 21
(b) It is the intent of the legislature that appropriations made under (a)(2) of this 22
section be made as soon as practicable after a borrower repays a loan made from the bulk fuel 23
revolving loan fund. 24
* Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to 25
read: 26
APPLICABILITY. AS 42.45.260(d), as amended by sec. 1 of this Act, and 27
AS 42.45.270(c), as amended by sec. 2 of this Act, apply to loans existing on or entered into 28
on or after the effective date of this Act. 29
* Sec. 5. This Act takes effect immediately under AS 01.10.070(c). 30