JUNEAU — The Senate Finance Committee has advanced legislation authorizing funding for a state buyout of a partner in a major proposed gas project.
The committee advanced a rewrite of Gov. Bill Walker’s bill that includes funding requested by the administration for buyout- and project-related costs.
The administration has laid out a timeline for completing the buyout of TransCanada Corp.’s interest in the project by Dec. 1. Project partners are scheduled to vote Dec. 4 on the 2016 work scope and budget.
TransCanada’s interests would be transferred to the state-sanctioned Alaska Gasline Development Corp., which already would hold the state’s interest in liquefaction facilities.
A Senate vote is expected as early as Tuesday. If the bill passes, it would go to the House, which has been holding hearings on the issue.
