AK HB94

Prohibits restrictive covenants in business leases located in HUBZones (historically underutilized business zones established by the U.S. Small Business Administration under 15 U.S.C. 657a).

Prevents lease provisions that prohibit selling or leasing real property to third parties who intend to operate the same or similar business.

Prevents lease provisions that prohibit assisting or facilitating third parties in operating the same or similar business.

Prevents lease provisions that prohibit a lessee from directly or indirectly engaging in the same or similar business as other leasees.

Adds violation of the prohibited lease provision as an unlawful act under the Alaska Unfair Trade Practices and Consumer Protection Act and applies only to leases entered into after the effective date.