SB 217 Summary

• State unconditionally guarantees up to $600,000,000 in revenue bonds issued by the Alaska Housing Finance Corporation to finance mortgages for qualifying veterans, with full faith and credit of the state pledged as security.

• Bond guarantee authorization requires voter approval through a ballot proposition at the first general election after the effective date of the act.

• Alaska Housing Finance Corporation is authorized to acquire its current Anchorage office building for up to $14,500,000.

• Alaska Housing Finance Corporation is authorized to acquire a building or purchase a site in Anchorage for relocating its public housing client intake and assisted housing center for up to $3,500,000.

• Act takes effect immediately and constitutes legislative approval required under existing Alaska statutes for the building acquisitions and purchases.