AK HB246

Creates oil and gas infrastructure development program and fund in the Alaska Industrial Development and Export Authority (AIDEA) to finance oil and gas infrastructure development projects.

Establishes dividend payment policy for the oil and gas infrastructure development fund, requiring annual dividends between 25-50 percent of net income with a maximum not to exceed total unrestricted net income.

Increases maximum loan amounts from one-third to 50 percent of capital costs (up to $100,000,000) and increases maximum loan guarantees from $20,000,000 to $25,000,000 for sustainable energy transmission and Arctic infrastructure development programs.

Authorizes AIDEA to provide financing up to 50 percent of capital costs or $100,000,000 for oil and gas infrastructure development, with loan-to-value ratio limited to 75 percent and financing term capped at 30 years.

Adds definitions for "oil and gas infrastructure development" (roads, pads, camps, processing facilities, and gathering systems for explored oil and gas fields) and "proven reserves" (quantities of petroleum commercially recoverable under current economic and regulatory conditions).