00                             SENATE BILL NO. 181                                                                         
01 "An Act making the interest rate for the Alaska Housing Finance Corporation's small                                     
02 community housing mortgage loans the same as the interest rate on mortgage loans                                        
03 purchased under the corporation's special mortgage loan purchase program from the                                       
04 proceeds of the most recent applicable issue of taxable bonds before the origination or                                 
05 purchase of the small community housing mortgage loans."                                                                
06 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
07    * Section 1.  AS 18.56.470(a) is amended to read:                                                                  
08            (a)  The interest rate on a mortgage loan originated or purchased in whole or in                             
09       part under AS 18.56.420 for small community housing is the same as [ONE                                       
10       PERCENT LESS THAN] the interest rate, as determined under AS 18.56.098(f)(1) -                                    
11       (4), on a mortgage loan purchased under AS 18.56.098(a) from the proceeds of the                                  
12       most recent applicable issue of taxable bonds before the origination or purchase of the                           
13       mortgage loan originated or purchased under AS 18.56.420.