(Juneau) - The Alaska State House today unanimously passed House Bill 363, legislation altering the composition of the Alaska Industrial Development and Export Authority (AIDEA) Board of Directors. The House Community & Regional Affairs Committee sponsored the bill.
A combination of the best and brightest from Alaska industry and from Alaska government should be on that board to put us on the right course to best managing our revenue and finding new opportunities for the good of all Alaskans.
~ Rep. Alan Austerman
“The goal of the restructure is to put private sector strategic leadership at the helm of the state’s development financing corporation,” C&RA Co-Chair Cathy Muñoz, R-Juneau, said. “This will enable AIDEA to engage proactively in the development projects that should occur in the state of Alaska.”
Current law mandates the five-member board consist of the Commissioners of Revenue; Commerce, Community, and Economic Development; another department head; and, two public members appointed by the Governor. HB 363 would increase the board size to seven members, of which five are private sector members with expertise in private sector business and demonstrated leadership skills, and would retain the Commissioners of Revenue and CCED. The expansion would also allow AIDEA to form subcommittees to represent more industries and regions in the state.
Rep. Alan Austerman, R-Kodiak, supported the bill as it made its way through the House. “We are at a financial crossroads right now. AIDEA helps us take a direction in shaping our fiscal future,” Austerman said. “A combination of the best and brightest from Alaska industry and from Alaska government should be on that board to put us on the right course to best managing our revenue and finding new opportunities for the good of all Alaskans.”
“I was pleased to co-sponsor this legislation,” C&RA Co-Chair Bob Herron, D-Bethel, said. “I believe this will help this public corporation have more success in financing large development projects, in building out Alaska infrastructure, and in creating more jobs for Alaskans.”
HB 363 now heads to the Alaska State Senate for consideration.