AK HB158

Increases the aggregate bond issuance limit for the Knik Arm Bridge and Toll Authority from $500,000,000 to $600,000,000, plus the cost of issuance.

Requires the authority to submit bond issue descriptions, financial reports, and prospectuses to the state bond committee for approval before issuing bonds, with the committee assessing revenue adequacy and potential effects on state bond marketing.

Allows bonds to be secured by gross revenue from toll facilities, revenue from private partners under public-private partnership agreements, and other legislatively appropriated funds (excluding state taxes or licenses).

Establishes the Knik Arm Crossing fund as a separate general fund to receive legislative appropriations, gifts, bequests, federal money, and investment earnings, with funds transferred to the authority to meet reserve fund requirements upon execution of a public-private partnership agreement.

Extends tax exemptions to include rights and interests held by private persons or enterprises under public-private partnership agreements, except for property serving non-essential business purposes, while clarifying that the exemption does not apply to private parties' other business interests.