An Act relating to the registration of commercial vessels; and relating to the derelict vessel prevention program fund.

This bill updates the rules for registering commercial vessels in Alaska by expanding the list of boats that do not need state registration. It specifically exempts foreign boats, government-owned vessels, non-motorized handmade umiaqs, and barges that stay in the state for short periods. The legislation also changes how money from the sale of abandoned boats is handled, ensuring funds are used for towing and storage costs before any remaining money goes to the owner or the state general fund. Finally, the bill repeals older laws regarding the derelict vessel prevention program fund and directs any leftover balance from that fund into the state's general fund.