AK HB7

Creates the Port of Southcentral Alaska Authority as a public corporation and instrumentality of the Department of Commerce, Community, and Economic Development to manage and operate the Port of Alaska in Anchorage, including its seaport, rail, and industrial properties

Establishes a nine-member board of directors consisting of two state commissioners (Commerce and Transportation) plus seven public members appointed by the governor, legislative leaders, and officials from Anchorage and Matanuska-Susitna Borough, serving three-year terms

Requires the Municipality of Anchorage and Matanuska-Susitna Borough to transfer specified port properties, tidelands, and associated funds to the new authority within 180 days of the act's effective date

Grants the authority broad powers including issuing revenue bonds (with legislative approval), setting tariffs and fees, exercising eminent domain, hiring personnel outside state employment rules, and maintaining a security force

Exempts the authority from state and local taxes, excludes employees from state personnel laws (AS 39), and shields the state from liability for authority debts while requiring the authority to operate on a self-sustaining basis