AK SB73

Authorizes the state commissioner to borrow money in anticipation of annual revenues and explicitly includes authority to enter into revenue anticipation notes and line of credit agreements.

Changes statutory language from requiring the commissioner to issue notes to allowing borrowing through various agreements, with terms determined by the commissioner as in the state's best financial interests.

Removes requirements that notes be sold at public or private sale with par value minimums, instead allowing the commissioner discretion in structuring borrowing agreements.

Maintains that borrowed money and interest must be repaid from revenues by the end of the following fiscal year, with full state faith, credit, and taxing power pledged as security.

Repeals AS 43.08.060 entirely and takes effect July 1, 2021.