"An Act appropriating funds for energy projects; and providing for an effective date. "

HB 463 appropriates funds intended for Railbelt Energy projects. These projects provide important infrastructure for the customers of all the major electric utilities of Alaska's Railbelt and for the Glennallen and Valdez areas. The appropriations include:

• $12.5 million for Chugach Electric Association
• $12.5 million Matanuska Electric Association
• $12.5 million for Homer Electric Association
• $ 5.0 million for Anchorage Municipal Light & Power
• $ 4.5 million for Copper Valley Electric Association
• $ 1.0 million for Seward Electric System
• $14.0 million for Alaska Industrial Development and Export Authority (AIDEA)

The appropriations also include $12.5 million to AIDEA as repayment of the AIDEA bonds associated with the Healy clean coal project. All of these appropriations are contingent upon two things: 1) the transfer of the Healy clean coal project (HCCP) to the Alaska Railbelt Energy Authority Joint Action Agency and 2) the transfer by the Alaska Energy Authority to the Alaska Railbelt Energy Authority Joint Action Agency of the funds, plus accrued interest, to upgrade and extend the Anchorage to Fairbanks power transmission intertie from the Douglas substation to the Teeland substation.

Alaska Statute Sec. 37.05.520 Railbelt Energy Fund provides that the legislature may appropriate money from the fund for programs, projects, and other expenditures to assist in meeting Railbelt energy needs, including projects for retrofitting state-owned buildings and facilities for energy conservation.

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