AK HB82

Creates new section allowing subsurface oil and gas development through directional drilling from unrestricted acreage even where surface use is restricted by statute.

Prohibits new oil and gas leases on state lands and waters in Kachemak Bay, defined by specific geographic boundaries from Anchor Point around the bay perimeter to Point Pogibshi.

Authorizes gas-only leases in Township 5 South, Range 15 West, Seward Meridian with no surface use rights and drilling limited to onshore leased lands only.

Adds revenue from gas-only leases under AS 38.05.184(h) to renewable energy grant fund sources, allowing appropriations from state rentals, royalties, and lease proceeds after Alaska Permanent Fund deposits.

Takes effect immediately upon enactment.