AK HB378

Transfers exclusive responsibility for developing a North Slope natural gas pipeline project from the Office of the Governor and Department of Natural Resources to the Alaska Railroad Corporation and Alaska Housing Finance Corporation.

Directs the Alaska Railroad Corporation to aggressively pursue federal permits, provide monthly legislative reports, conduct a gas-to-liquids facility cost study, identify in-state and overseas markets, and work with Alaska Housing Finance Corporation on project financing.

Requires the Department of Natural Resources to reserve and convey state land along a pipeline corridor (between Fairbanks and Kenai Peninsula) to the Alaska Railroad Corporation at no cost except administrative expenses.

Allows the Alaska Housing Finance Corporation to create subsidiaries and use its financing powers to support the pipeline project in cooperation with the Alaska Railroad Corporation.

Takes effect immediately upon enactment.