HB 424 Summary

• Authorizes issuance of up to $397,200,000 in general obligation bonds for design and construction of library, education, and educational research facilities, subject to voter ratification.

• Establishes the "2010 education project fund" to receive bond proceeds (excluding accrued interest and premiums) and allocates funds across multiple state agencies and projects.

• Appropriates $38,500,000 to Department of Education and Early Development for Mount Edgecumbe High School aquatic facility ($20,000,000) and State Library, Archives, and Museum facility ($18,500,000).

• Appropriates $128,500,000 in grants to Department of Education and Early Development for public school projects including Alakanuk, Kipnuk, and Kwigillingok K-12 schools.

• Appropriates $207,000,000 to University of Alaska for six projects including community arena at UA-Anchorage ($60,000,000), life science facility at UA-Fairbanks ($88,000,000), and other campuses; also appropriates $20,000,000 to Department of Fish and Game for Near Island research facility and $3,200,000 for Prince of Wales Island vocational education center.