HB 251 Summary

• Prohibits business space leases from including provisions that prevent a party from selling or leasing their real property to someone who intends to operate a same or similar business.

• Prohibits lease provisions that prevent a party from assisting or facilitating someone else to operate a business that is the same as or similar to another party's business.

• Prohibits lease provisions that prevent a party from directly or indirectly engaging in a business that is the same as or similar to another party's business.

• Designates violations of these prohibited lease provisions as unlawful acts under the Alaska Unfair Trade Practices and Consumer Protection Act (AS 45.50.471).

• Applies only to leases entered into on or after the effective date of the Act.