AK HB286

Authorizes issuance of general obligation bonds in the principal amount of not more than $453,499,200 for state transportation projects, subject to voter approval by simple majority.

Establishes the "2012 state transportation project fund" to receive bond proceeds and appropriates $195,400,000 to the Department of Commerce, Community, and Economic Development for port and harbor projects in communities including Anchorage, Bethel, Kodiak, and other locations.

Appropriates $254,500,000 from the fund to the Department of Transportation and Public Facilities for highway reconstruction and bridge replacement projects in Anchorage, Fairbanks, Juneau, Kenai, Ketchikan, and other areas, with reallocation authority between projects.

Appropriates $3,599,200 to the state bond committee for expenses incident to the sale and issuance of the bonds.

Requires the ballot question to be submitted to qualified voters at the first general election after the Act's effective date and takes effect immediately.