SB 125 Summary

• Changes the name of the Alaska Aerospace Development Corporation to Alaska Aerospace Corporation

• Amends AS 14.40.821(a) to remove the word "DEVELOPMENT" from the corporation's official name in statute

• Directs the revisor of statutes to substitute "Alaska Aerospace Corporation" for "Alaska Aerospace Development Corporation" throughout Alaska Statutes in 10 different code sections and multiple subsections

• The corporation remains a public body corporate and politic located within the Department of Commerce, Community, and Economic Development and affiliated with the University of Alaska with separate legal existence