---
type: "Bill"
title: "An Act relating to the Alaska Banking Code; relating to mutual savings banks; relating to interstate state banks and international banks; relating to the pledging of bank assets as collateral security to tribal organizations; relating to the pledging of bank assets for interest swap agreements; relating to state business licenses; relating to persons who make loans secured by interests in vessels or facilities; relating to liability for the release or threatened release of hazardous substances; relating to the Model Foreign Bank Loan Act; and providing for an effective date."
description: "An Act relating to the Alaska Banking Code; relating to mutual savings banks; relating to interstate state banks and international banks; relating to the pledging of bank assets as collateral security to tribal organizations; relating to the pledging of bank assets for interest swap agreements; relating to state business licenses; relating to persons who make loans secured by interests in vessels or facilities; relating to liability for the release or threatened release of hazardous substances; relating to the Model Foreign Bank Loan Act; and providing for an effective date."
jurisdiction: "us/states/ak"
legislature: "Alaska Legislature"
session: "32"
identifier: "HB 85"
citation: "Alaska HB 85 (32)"
classification: ["bill"]
subjects: ["BUSINESS", "CONSUMER AFFAIRS", "FINANCE", "FINANCIAL INSTITUTIONS", "HAZARDOUS SUBSTANCES", "LOANS", "NATIVE ORGANIZATIONS", "PROPERTY", "SECURITIES", "VESSELS"]
status: "enacted"
primary_sponsors: ["LEBON"]
version_count: 4
action_count: 82
vote_count: 3
first_action: "2021-02-18"
last_action: "2022-10-05"
source: "openstates"
source_identifier: "ocd-bill/6ec3ccb6-6b84-4b25-b590-b50814cfbf8e"
source_url: "https://www.akleg.gov/basis/Bill/Detail/32?Root=HB85"
source_hash: "5e0426331c291702573fca52d66881a3df4ad3eecccc3d4d06368473d9a494e6"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-ak"]
---

# Alaska HB 85 (32) — An Act relating to the Alaska Banking Code; relating to mutual savings banks; relating to interstate state banks and international banks; relating to the pledging of bank assets as collateral security to tribal organizations; relating to the pledging of bank assets for interest swap agreements; relating to state business licenses; relating to persons who make loans secured by interests in vessels or facilities; relating to liability for the release or threatened release of hazardous substances; relating to the Model Foreign Bank Loan Act; and providing for an effective date.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **CSHB 85(L&C)** (committee substitute) — [source](https://www.akleg.gov/basis/Bill/Text/32?Hsid=HB0085B)
2. **Enrolled HB 85** (committee substitute) — [source](https://www.akleg.gov/basis/Bill/Text/32?Hsid=HB0085Z)
3. **HB 85** (committee substitute) — [source](https://www.akleg.gov/basis/Bill/Text/32?Hsid=HB0085A)
4. **SCS CSHB 85(L&C)** (committee substitute) — [source](https://www.akleg.gov/basis/Bill/Text/32?Hsid=HB0085C)

## Votes

- (H) CONCUR AM OF (S) Y33 E5 A2 #2795 — **33–0** (pass) · lower
- (H) PASSED Y35 N2 E3 #1079 — **35–2** (pass) · lower
- (S) PASSED Y19 N- E1 #2479 — **19–0** (pass) · upper

## Sponsors

- LEBON — primary (person)
- Merrick — cosponsor (person)
- Rasmussen — cosponsor (person)
- Schrage — cosponsor (person)
- Thompson — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2021-02-18** (H) READ THE FIRST TIME - REFERRALS `reading-1`
- **2021-02-18** (H) L&C, FIN
- **2021-04-07** (H) LABOR & COMMERCE at 03:15 PM BARNES 124
- **2021-04-07** (H) Heard & Held
- **2021-04-07** (H) Minutes (HL&C)
- **2021-04-19** (H) LABOR & COMMERCE at 03:15 PM BARNES 124
- **2021-04-19** (H) Heard & Held
- **2021-04-19** (H) Minutes (HL&C)
- **2021-04-21** (H) LABOR & COMMERCE at 03:15 PM BARNES 124
- **2021-04-21** (H) Moved CSHB 85(L&C) Out of Committee
- **2021-04-21** (H) Minutes (HL&C)
- **2021-04-22** (H) L&C RPT CS(L&C) 5DP 1NR
- **2021-04-22** (H) DP: SCHRAGE, MCCARTY, SNYDER, FIELDS, SPOHNHOLZ
- **2021-04-22** (H) NR: KAUFMAN
- **2021-04-22** (H) FN1: ZERO(CED)
- **2021-04-22** (H) FN2: ZERO(CED)
- **2021-04-22** (H) FN3: INDETERMINATE(DEC)
- **2021-05-06** (H) COSPONSOR(S): MERRICK, RASMUSSEN
- **2021-05-06** (H) FINANCE at 09:00 AM ADAMS 519
- **2021-05-06** (H) Heard & Held
- **2021-05-06** (H) Minutes (HFIN)
- **2021-05-13** (H) FIN RPT CS(L&C) 6DP 4NR
- **2021-05-13** (H) DP: ORTIZ, LEBON, THOMPSON, JOHNSON, RASMUSSEN, MERRICK
- **2021-05-13** (H) NR: CARPENTER, WOOL, JOSEPHSON, FOSTER
- **2021-05-13** (H) FN1: ZERO(CED)
- **2021-05-13** (H) FN2: ZERO(CED)
- **2021-05-13** (H) FN4: ZERO(DEC)
- **2021-05-13** (H) FINANCE at 09:00 AM ADAMS 519
- **2021-05-13** (H) Moved CSHB 85(L&C) Out of Committee
- **2021-05-13** (H) Minutes (HFIN)
- **2021-05-14** (H) RULES TO CALENDAR 5/14/2021
- **2021-05-14** (H) READ THE SECOND TIME `reading-2`
- **2021-05-14** (H) L&C CS ADOPTED UC
- **2021-05-14** (H) ADVANCED TO THIRD READING UC `reading-3`
- **2021-05-14** (H) READ THE THIRD TIME CSHB 85(L&C) `reading-3`
- **2021-05-14** (H) PASSED Y35 N2 E3 `passage`
- **2021-05-14** (H) EFFECTIVE DATE(S) SAME AS PASSAGE
- **2021-05-14** (H) COSPONSOR(S): THOMPSON, SCHRAGE
- **2021-05-14** (H) TRANSMITTED TO (S) `passage`
- **2021-05-14** (H) VERSION: CSHB 85(L&C)
- **2021-05-14** (H) FINANCE at 09:00 AM ADAMS 519
- **2021-05-14** (H) <Bill Hearing Canceled>
- **2021-05-14** (H) Minutes (HFIN)
- **2021-05-17** (S) READ THE FIRST TIME - REFERRALS `reading-1`
- **2021-05-17** (S) L&C, FIN
- **2022-01-19** (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)
- **2022-01-19** (S) Moved SCS CSHB 85(L&C) Out of Committee
- **2022-01-19** (S) Minutes (SL&C)
- **2022-01-21** (S) L&C RPT SCS(L&C) 3DP 1NR SAME TITLE
- **2022-01-21** (S) DP: COSTELLO, GRAY-JACKSON, STEVENS
- **2022-01-21** (S) NR: REVAK
- **2022-01-21** (S) FN5: ZERO(DEC)
- **2022-01-21** (S) FN6: ZERO(CED)
- **2022-01-21** (S) FN7: ZERO(CED)
- **2022-01-31** (S) FINANCE at 01:00 PM SENATE FINANCE 532
- **2022-01-31** (S) Heard & Held
- **2022-01-31** (S) Minutes (SFIN)
- **2022-04-05** (S) FINANCE at 09:00 AM SENATE FINANCE 532
- **2022-04-05** (S) Moved SCS CSHB 85(L&C) Out of Committee
- **2022-04-05** (S) Minutes (SFIN)
- **2022-04-06** (S) FIN RPT SCS(L&C) 4DP 3NR SAME TITLE
- **2022-04-06** (S) DP: STEDMAN, BISHOP, HOFFMAN, VON IMHOF
- **2022-04-06** (S) NR: WILSON, WIELECHOWSKI, OLSON
- **2022-04-06** (S) FN5: ZERO(DEC)
- **2022-04-06** (S) FN6: ZERO(CED)
- **2022-04-06** (S) FN7: ZERO(CED)
- **2022-04-29** (S) RULES TO CALENDAR 4/29/2022
- **2022-04-29** (S) READ THE SECOND TIME `reading-2`
- **2022-04-29** (S) L&C SCS ADOPTED UC
- **2022-04-29** (S) ADVANCED TO THIRD READING 5/2 CAL `reading-3`
- **2022-05-02** (S) READ THE THIRD TIME SCS CSHB 85(L&C) `reading-3`
- **2022-05-02** (S) PASSED Y19 N- E1 `passage`
- **2022-05-02** (S) EFFECTIVE DATE(S) SAME AS PASSAGE
- **2022-05-02** (S) TRANSMITTED TO (H) AS AMENDED `passage`
- **2022-05-02** (S) VERSION: SCS CSHB 85(L&C)
- **2022-05-03** (H) CONCUR READ AND HELD
- **2022-05-05** (H) CONCUR TAKEN UP UC
- **2022-05-05** (H) CONCUR AM OF (S) Y33 E5 A2
- **2022-05-05** (H) EFFECTIVE DATE(S) SAME AS PASSAGE
- **2022-10-05** (H) 4:00 P.M. 6/17/22 Transmitted to Governor `executive-receipt`
- **2022-10-05** (H) Signed into law 6/29 CHAPTER 20 SLA 22 `executive-signature`
- **2022-10-05** (H) EFFECTIVE DATE(S) OF LAW SEE CHAPTER `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/6ec3ccb6-6b84-4b25-b590-b50814cfbf8e`. Confidence: reported (aggregated from official Alaska legislature records).