AK HB314

Extends the termination date of the Alaska regional economic assistance program from July 1, 2016 to July 1, 2021 under AS 44.33.896.

Amends department duties to encourage formation of regional development organizations, provide grants (maximum 15 per fiscal year), and assist with economic development initiatives including international trade and tourism.

Requires the department to compile an annual report by February 1 detailing regional development organizations' activities, funding sources, meetings, economic initiatives, and project status, delivered to the legislature.

Makes the extension retroactive to July 1, 2016 if the bill takes effect on or after that date.

Takes effect immediately upon enactment.