AK HB371

Establishes the broadband cost equalization fund as a separate fund managed by the Commissioner of Revenue to equalize broadband costs statewide to match the average cost in Anchorage, Fairbanks, and Juneau.

Fund sources include legislative appropriations, accumulated earnings, gifts, bequests, contributions, and federal money not designated for annual broadband cost equalization expenditures.

Regulatory Commission of Alaska shall establish criteria for calculating monthly broadband cost equalization payments to eligible providers, with payments capped at 95 percent of provider monthly costs and used to reduce costs for residential customers and community facilities.

Authority may make grants up to 75 percent of project costs to eligible broadband providers for projects reducing service costs, provided the provider secures 25 percent financing from non-fund sources, with annual grant allocations limited to 3 percent of fund balance.

Eligible broadband providers include public, cooperative, or other corporations, companies, individuals, or associations that own, operate, manage, or control broadband systems provided for compensation.