An Act relating to financing by the Alaska Industrial Development and Export Authority for workforce housing development projects; relating to a mandatory exemption from municipal property taxes for certain assets of the Alaska Industrial Development and Export Authority; and providing for an effective date by repealing the effective date of sec. 2, ch. 64, SLA 2018.

Summary

The legislation expands the Authority’s purpose to include financing the construction of new workforce housing with three or more units and gives it additional powers such as issuing bonds and acquiring project interests. It also creates a mandatory exemption from municipal property taxes for certain Authority assets. The changes aim to boost affordable housing for workers and support economic development.

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