AK SB86

Adds AS 42.40.352 to allow Alaska Railroad Corporation to sell or dispose of land not necessary for railroad purposes with board approval, subject to fair market value requirements and 60-day public notice period.

Modifies AS 42.40.120(c)(14) to allow board approval (instead of requiring legislative approval) for exchanging, donating, selling, or encumbering the corporation's entire interest in land, with legislative approval still required for bond issuance.

Repeals prior legislative approval requirements in AS 42.40.285(1) and (4) for railroad financing and facility development, streamlining the approval process.

Requires Alaska Railroad Corporation to provide annual reports to Resources and Finance Committees from 2019-2021 detailing activities under this Act.

Staggered effective dates: Sections 1, 3, 5, 8, 10, 12, 14, 16, 17, 19-22 take effect immediately; remaining sections take effect three years later.