HB 119

An Act relating to a mandatory exemption from municipal property taxes for certain assets of the Alaska Industrial Development and Export Authority; relating to dividends from the Alaska Industrial Development and Export Authority; relating to the meanings of 'mark-to-market fair value,' 'net income,' 'project or development,' and 'unrestricted net income' for purposes of the Alaska Industrial Development and Export Authority; extending the expiration date of the authorization to finance and issue bonds through the Alaska Industrial Development and Export Authority for a liquefied natural gas production system and natural gas distribution system for an Interior energy project; relating to land of the Alaska Railroad Corporation; relating to the sale of Alaska Railroad Corporation land; relating to the financing and bonding authority of the Alaska Railroad Corporation; authorizing the exchange of land between the Alaska Railroad Corporation and Eklutna, Inc.; authorizing the transfer of land from the Alaska Railroad Corporation to the Municipality of Anchorage; authorizing the transfer of land from the Alaska Railroad Corporation to Usibelli Coal Mine, Inc.; authorizing the transfer of land in the Chena Landings Subdivision from the Alaska Railroad Corporation; authorizing the transfer of land from the Alaska Railroad Corporation to Alaska Tourism Development, LLC; authorizing the transfer of land from the Alaska Railroad Corporation to NeighborWorks Alaska; authorizing the transfer of land from the Alaska Railroad Corporation to 1048 Whitney Road, Anchorage, LLC; authorizing the transfer of land from the Alaska Railroad Corporation to 660 Western Drive, Anchorage, LLC; and providing for an effective date.