AK SB129

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

Establishes dividend payment requirements from the oil and gas infrastructure development fund, requiring annual dividends of 25-50 percent of net income, subject to restrictions that dividends cannot exceed total unrestricted net income.

Increases loan financing limits for sustainable energy transmission and Arctic infrastructure development programs from one-third to 50 percent of capital costs, and raises loan guarantee limits from $20,000,000 to $25,000,000.

Authorizes AIDEA to apply interest rate regulations across all programs (sustainable energy, Arctic infrastructure, and oil and gas infrastructure) based on borrower creditworthiness, project risks, and comparable market rates.

Restricts oil and gas infrastructure financing to projects with proven reserves, limits financing to 50 percent of capital costs, caps loan guarantees at $25,000,000, prohibits tax credits for participating field operators, and restricts loan terms to 30 years maximum.