AK HB404

Amends AS 18.56.089(c) to change the allowable uses of Alaska Housing Finance Corporation dividends from "capital" projects to "affordable and workforce housing" projects.

Maintains the dividend calculation at the lesser of $103,000,000 or 75 percent of the adjusted change in net assets of the corporation for the base fiscal year.

Requires the corporation to pay the annual dividend to the state before the end of each fiscal year and notify the commissioner of revenue of dividend amounts and payment availability.

Dividend amount is reduced by bond repayment and related costs (capped at $1,000,000 for specified bonds issued under various statutes) and any appropriations of unrestricted unencumbered corporation funds other than operating budget expenses.