AK SB82

Establishes a new distinct administrative area for commercial set net fishing on the east side of Cook Inlet, separated from the existing Cook Inlet administrative area, effective January 1, 2024.

Creates a voluntary entry permit buy-back program allowing qualified set net fishers to sell permits to the Alaska Commercial Fisheries Entry Commission for $260,000 (less administrative costs), with an option to receive payment in three annual installments.

Requires an election on April 1, 2024, among eligible permit holders to approve the buy-back program; the commission shall buy back not more than 200 permits selected by lottery if approved.

Authorizes the Department of Natural Resources to terminate state leases without penalty for land used to fish repurchased permits, and requires the Department of Fish and Game to close corresponding waters to commercial fishing.

Repeals key provisions of the act on June 30, 2030, and requires the commission to report to the legislature by January 15, 2030, on the program's status and number of permits purchased.