Rep. Eldon Mulder State Capitol, Room 507 Juneau, AK 99801-1182 Phone: (907) 465-2647 Fax: (907) 465-3518

Rep. Bill Williams State Capitol, Room 511 Juneau, AK 99801-1182 Phone: (907) 465-3424 Fax: (907) 465-3793

Sponsor Statement for CSHB 528(FIN)
State Reimbursement Capital Project Debts

An Act relating to programs of state reimbursement for debt payments for certain capital projects; and providing for an effective date.

House Bill 528 Provides state reimbursement to local entities for debt incurred for schools and projects that contribute to economic development.

HB 528 provides $7,405,992 in reimbursement for debt incurred by the Northwest Arctic Borough School District for the replacement of the Ambler school.

To assist in economic development of Alaska, HB 528 provides $15,000,000 in debt reimbursement for the state share of development of harbors in Unalaska, Akutan, Chignik and False Pass and expansion of the Port of Anchorage. It also provides $51,000,000 in debt reimbursement for the following energy projects: Nyman Combined Cycle Cogeneration Plant in Kodiak; the Power Creek Hydropower Project in Cordova; the Cogeneration Project in Valdez; The Metlakatla Utility Plant, and the Southeast Intertie (Swan Lake to Lake Tyee). This debt reimbursement will allow Cordova Electric Cooperative to end its draw on the power cost equalization program.

HB 528 Provides $19,470,000 in debt reimbursement for the University of Alaska for Acquisition of a portion of the University Center in Anchorage for classroom space and for a combined facility in Juneau with the Department of Military and Veteran Affairs. The Juneau facility will serve as a readiness center for the National Guard and a physical education facility for UAS students.

Reimbursement of the debt incurred for these projects will improve the economic development potential in each of the communities.

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