Bill > HB30

This bill establishes the Office of Entrepreneurship within the Department of Commerce, Community, and Economic Development to support new businesses in Alaska. The office will promote innovation-based economic development, provide resources and information to new businesses, and facilitate engagement between the state and emerging businesses. Specifically, the office will help new businesses by coordinating with various organizations like small business development centers, local governments, and universities to identify needs, improve service delivery, and share relevant information. The bill requires state agencies to collectively spend 5% of their economic development program funds on supporting new businesses and mandates an annual report detailing legislation that impacts these businesses. A "new business in the state" is defined as an Alaska-based business that has been operating for less than five years and qualifies as an Alaska bidder. Additionally, the bill modifies existing procurement reporting requirements to include more detailed information about contracts with new businesses, such as the total number and value of contracts, and recommendations for improving their access to procurement opportunities. The provisions of this bill are set to be in effect until December 31, 2030.

Budget and Finance, Government Affairs

https://www.akleg.gov/basis/Bill/Detail/34?Root=HB30