AK SB123

Establishes the Alaska energy independence program and Alaska energy independence fund within the Alaska Industrial Development and Export Authority to provide loans and financing for sustainable energy development.

Creates a five-member advisory board consisting of the governor or designee and four public members with expertise in finance, financial marketing, construction science, and renewable/sustainable energy.

Defines "sustainable energy development" to include renewable energy generation, building energy efficiency, industrial decarbonization, electrical infrastructure, greenhouse gas emissions reduction, clean transportation, and electric vehicle charging infrastructure.

Authorizes the authority to provide various forms of capital and fund management including senior and subordinated debt, loan guarantees, credit enhancements, equity capital, and securitization of financings for eligible sustainable energy projects.

Limits loan guarantees from the fund to $20,000,000 without legislative approval and specifies that any guarantees or security provided do not constitute a state or political subdivision debt or obligation; effective January 1, 2022.