AK SB99

Establishes a heating fuel energy relief payment program administered by the Department of Commerce, Community, and Economic Development to provide subsidies when crude oil prices exceed $75 per barrel on the New York Mercantile Exchange.

Sets maximum retail prices for heating fuel (Alaska Number 2 distillate or residential heating oil) at $2.50 per gallon through June 30, 2012; $2.75 per gallon from July 1, 2012 through June 30, 2013; and $3.00 per gallon beginning July 1, 2013.

Requires fuel distributors to apply for energy relief payments and promise not to charge customers more than the specified retail prices in exchange for state subsidies covering the difference.

Creates a heating fuel assistance fund within the department, funded by legislative appropriation, to pay the energy relief subsidies to qualified distributors.

Repeals the program effective June 30, 2014, and takes effect immediately upon enactment.