CS for HB 81 Summary

• Expands eligibility for Alaska energy efficiency revolving loan fund to include tax-exempt entities under federal law (26 U.S.C. 501(c)(3), (4), (6), (12), (19)), regional housing authorities, and federally recognized tribes.

• Requires Alaska Housing Finance Corporation to include annual report on Alaska energy efficiency revolving loan fund activities in its existing annual reporting requirements.

• Mandates that borrowers (federally recognized tribes, regional housing authorities, regional educational attendance areas, University of Alaska, and municipalities) waive sovereign immunity defenses with respect to loan enforcement.

• Establishes priority for loan approvals to energy efficiency improvements for regional educational attendance areas, University of Alaska, municipalities, and state buildings over other applicants.

• Prohibits for-profit business enterprises from receiving loans under the program and excludes electric utility entities unless applying specifically for energy efficiency improvements unrelated to power generation, transmission, or distribution.