An Act relating to the Regulatory Commission of Alaska; relating to regulation of public utilities and pipeline carriers; relating to approval of wholesale power agreements; relating to electric reliability organizations; relating to loans for renewable energy resources projects from the power project fund; relating to the taxation of new electricity generation and storage facilities; relating to the Alaska Energy Authority; relating to the Railbelt Transmission Organization; and providing for an effective date.

This bill updates the laws governing the Regulatory Commission of Alaska and the Alaska Energy Authority to improve oversight of public utilities, pipeline carriers, and renewable energy projects. It changes how commissioners are qualified by allowing professionals in finance, engineering, or public administration to serve without a law degree, while also adjusting their salaries. The legislation modifies the rules for approving wholesale power agreements and loans for renewable energy, and it alters how the state taxes new electricity generation and storage facilities. Additionally, the bill clarifies the ownership of state-funded transmission assets in the Railbelt and adjusts the fees utilities pay to fund the commission's operations.