Senate Bill 99 Signed Into Law

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by Gretchen Parsons

 KETCHIKAN- Monday, Governor Sean Parnell signed Senator Lesil McGuire's Senate Bill 99 into law.

The legislation gives Southeast Alaska's economy a push, a much welcomed push after the region lost it's timber industry.

SB 99 allows the Alaska Industrial Development and Export Authority different ways to finance the infrastructure and building costs of the Bokan-Doston Ridge Rare Earth Element Project.

The legislation also allows AIDEA to issue bonds that will pay for the Niblack Mine Project and by doing so will create some two  hundred jobs.

Finally, SB 99 will allow, if approved, the Alaska Energy Authority to loan 18 million to the Blue Lake Hydroelectric Project.