AK HB74

Authorizes the Alaska Housing Finance Corporation to issue bonds totaling $101,630,000: $15,730,000 for village safe and clean water and sewage disposal facilities, and $85,900,000 for federal aid eligible highway and aviation transportation projects.

Allows bond proceeds to be made available to government departments and agencies according to appropriations and construction schedules, with any income on proceeds used solely for bond principal, interest, and related costs.

Modifies the Alaska Housing Finance Corporation's annual dividend calculation to reduce state dividend payments by the amount needed to cover all costs associated with the authorized bonds, including principal and interest payments.

Removes references to a previous 2000 bond authorization (SEC. 10(b), CH. 130, SLA 2000) from the dividend calculation formula and adds the new bond authorization to the list of deductible bond costs.

Takes effect immediately upon enactment.