AK SB54

Authorizes 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 project matching funds.

Income earned on bond proceeds may be used solely for principal, interest, and other costs related to the bonds.

Bond costs and repayment amounts reduce the Alaska Housing Finance Corporation's annual dividend to the state, with the corporation determining necessary unrestricted revenue and notifying the legislature.

Modifies the dividend calculation formula in AS 18.56.089(c) to include bonds issued under this act among the deductions from the corporation's dividend payment.

Takes effect immediately upon enactment.