HB 255 Summary

• Creates the Port of Southcentral Alaska Authority as a public corporation and instrumentality of the Department of Commerce, Community, and Economic Development with separate legal existence to manage and operate the Port of Southcentral Alaska in Anchorage.

• Establishes a 9-member board of directors consisting of the commissioners of commerce and transportation, plus seven public members appointed by the governor, legislature, and local municipal bodies, with specific qualifications required for board members.

• Transfers port property and tidelands from the Municipality of Anchorage and real property from the Matanuska-Susitna Borough to the authority within 180 days of enactment.

• Grants the authority broad powers to manage finances, issue revenue bonds (with legislative approval), establish rates and tariffs, hire personnel, and operate port facilities on a self-sustaining basis.

• Provides that authority employees are not state employees, exempts the authority from various state laws, protects the state from liability for authority debts, and takes effect immediately.