AK SB216

Authorizes the Alaska Industrial Development and Export Authority (AIDEA) to acquire interests in in-state oil and gas assets through purchase or other means to provide working or venture capital for development projects.

Requires AIDEA to determine that leaseholders have made reasonable efforts to obtain private sector financing and those efforts were unsuccessful before acquiring an interest in an oil or gas lease.

Establishes the Alaska Resource Development Fund within AIDEA for developing oil and gas resources, to be managed by the authority with ability to create separate accounts and use fund income for specified purposes.

Expands the definition of "project" under AIDEA authority to include development of oil and gas leases by providing working or venture capital in exchange for an equity interest.

Directs AIDEA to research the feasibility of creating a program allowing Alaska residents to invest their permanent fund dividends or other funds in in-state oil and gas assets acquired by the authority, with findings due to the legislature by December 31, 2012.