APPROP: SUPPLEMENTAL; FUND CAP

Plain English Breakdown

The official source material does not provide details about the natural gas pipeline project or its impact on people involved in the project.

Act for Extra Money and Fund Setup

This act provides extra money to support a natural gas pipeline project and sets up a disaster relief fund.

What This Bill Does

• Gives $50 million from the general fund to support the Alaska Industrial Development and Export Authority for the reimbursement of expenditures related to the Alaska Liquified Natural Gas pipeline project over three fiscal years ending June 30, 2025, June 30, 2026, and June 30, 2027.
• Provides $15 million from the general fund to start up a disaster relief fund.

Who It Names or Affects

• The Alaska Industrial Development and Export Authority
• Agencies managing disaster relief funds

Terms To Know

appropriations

Money set aside for specific uses by the government.

general fund

A main pool of money that a state can use to pay for different programs and services.

Limits and Unknowns

• The bill does not specify what happens if the funds are not used by their deadlines.
• It is unclear how this act will affect future budgets or other projects.

Official Summary Text

APPROP: SUPPLEMENTAL; FUND CAP
An Act making supplemental appropriations; making appropriations to capitalize funds; and providing for an effective date.

Current Bill Text

SB0059A -1- SB 59
New Text Underlined [DELETED TEXT BRACKETED]

34-GS1753\A

SENATE BILL NO. 59

IN THE LEGISLATURE OF THE STATE OF ALASKA

THIRTY-FOURTH LEGISLATURE - FIRST SESSION

BY THE SENATE RULES COMMITTEE BY REQUEST OF THE GOVERNOR

Introduced: 1/24/25
Referred: Finance

A BILL

FOR AN ACT ENTITLED

"An Act making supplemental appropriations; making appropriatio ns to capitalize 1
funds; and providing for an effective date." 2
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 3
* Section 1. ALASKA INDUSTRIAL DEVELOPMENT AND EXPORT AUTHORITY. 4
The sum of $50,000,000 is appropriate d from the general fund to the Alaska Industrial 5
Development and Export Authority for the reimbursement of the A laska Liquified Natural 6
Gas pipeline project front-end engineering and design expenditures for the fiscal years ending 7
June 30, 2025, June 30, 2026, and June 30, 2027. 8
* Sec. 2. SUPPLEMENTAL FUND CAPITALIZATION. The sum of $15,000,000 is 9
appropriated from the general fund to the disaster relief fund (AS 26.23.300(a)). 10
* Sec. 3. LAPSE OF APPROPRIATIONS. (a) The unexpended balance of the appropriation 11
made in sec. 1 of this Act lapses into the general fund on June 30, 2027. 12
(b) The appropriation made in sec. 2 of this Act is for the ca pitalization of a fund and 13
does not lapse. 14
34-GS1753\A
SB 59 -2- SB0059A
New Text Underlined [DELETED TEXT BRACKETED]

* Sec. 4. RETROACTIVITY. If this Act takes effect after June 30, 2025, th i s A c t i s 1
retroactive to July 1, 2024. 2
* Sec. 5. This Act takes effect immediately under AS 01.10.070(c). 3