House Bill 369
The 26th Alaska Legislature passed CSHB 369 (FIN) on April 18, 2010, and Governor Parnell signed it into law on April 26, 2010. With the Governor’s signature, the act became chapter 7 of the Session Laws of Alaska 2010 (the “2010 Act”). Among other things, the 2010 Act authorized the Alaska Housing Finance Corporation (“AHFC”) to create a subsidiary corporation “for the purpose of planning, constructing, and financing in-state natural gas pipeline projects or for the purpose of aiding in the planning, construction, and financing of in-state natural gas pipeline projects.”
House Bill 4
On April 13, 2013, the 28th Alaska Legislature passed SCS CSSSHB 4 (FIN), and Governor Parnell signed it into law on May 21, 2013. With the Governor’s signature, the act became chapter 11 of the Session Laws of Alaska 2013 (the “2013 Legislation”). The 2013 Legislation continues the existence of AGDC but changes it from a wholly-owned subsidiary of AHFC into a public corporation of the State of Alaska. AGDC is now located in the Alaska Department of Commerce, Community, and Economic Development for administrative purposes only. AGDC has a legal existence independent of and separate from the State of Alaska.
Senate Bill 138
Senate Bill 138 is the enabling legislation that allows the Administration to negotiate firm contracts with the parties to the Heads of Agreement (HOA) and the Memorandum of Understanding (MOU) reached in January 2014 between the State, the AGDC, ConocoPhillips, BP, ExxonMobil, and TransCanada, which stated all parties are in alignment. The agreements represent the first step on the path to full, legally binding contracts and set out roles and responsibilities of the parties before finalized contracts are drawn up.