CS for Senate Bill No. 287(RES) - Summary

• Transfers exclusive responsibility for developing an in-state natural gas pipeline project from the Governor's office to the Alaska Railroad Corporation to transport North Slope gas to Cook Inlet and Southcentral Alaska markets.

• Authorizes the Alaska Railroad Corporation to acquire, construct, and operate a natural gas pipeline and related facilities for the "Stand-Alone Pipeline Project" serving the Anchorage bowl area, Kenai Peninsula, and locations along the transportation route.

• Requires the Corporation to establish a subsidiary, aggressively pursue federal permits, provide monthly legislative reports, conduct gas-to-liquids cost studies, and identify in-state and overseas markets for the natural gas.

• Mandates the Corporation complete specific milestones including letters of intent from buyers/sellers by February 15, 2011, private company interest letters by March 15, 2011, and a final feasibility document by June 30, 2012.

• Allows the Corporation to cease activities if the Governor finds that an agreement for construction of a competing project described in AS 43.90 has been entered into, and the legislature approves this finding by concurrent resolution.

• Takes effect July 1, 2010.