AK HB411

Amends the power project fund to include proceeds from the sale of loans as allowable fund sources alongside legislative appropriations and deposited money.

Authorizes the Alaska Energy Authority to collect fees and charges for loan applications, origination, and project feasibility analysis, with revenues deposited into the general fund.

Permits the Alaska Energy Authority to sell power project fund loans with legislative approval and allows use of fund money to repurchase defaulted loans, with sale proceeds returned to the power project fund.

Authorizes the Alaska Industrial Development and Export Authority to purchase power project fund loans as an investment of its revolving fund with legislative approval and notwithstanding existing restrictions.

Provides legislative approval for the sale and purchase of power project fund loans under a memorandum of understanding dated February 17, 2010, between the two authorities, effective immediately.