HB 305 - Omnibus Energy Bill

• Establishes a new Department of Energy as a principal state department to develop comprehensive energy plans, promote energy efficiency, and serve as the state's designated energy office for federal Department of Energy funds.

• Restructures the Alaska Energy Authority board by removing Alaska Industrial Development and Export Authority members and replacing them with four public members appointed by the governor to two-year terms, while adding a commissioner of energy as an ex officio member.

• Creates a renewable energy production tax credit allowing energy producers 15 percent of retail electricity rates (capped between 2.1 and 5 cents per kilowatt-hour) for the first five tax years after renewable energy capital investments are placed in service, with credit expiration on January 1, 2025.

• Establishes an emerging energy technology fund to provide grants and loans for research, development, and demonstration projects testing new energy technologies with reasonable expectation of commercial viability within five years.

• Requires state facilities to comply with 2009 International Energy Conservation Code standards, mandates energy audits when substantial inefficiency is detected, and modifies nuclear waste facility siting requirements by removing governor approval as a condition for permit issuance.