HCS SB 92(STA): "An Act requiring that, in addition to its operating budget, activities of the Alaska Housing Finance Corporation, except the corporation's unsubsidized mortgage loan activities and except certain of the corporation's multi-family loans and projects, are subject to the Executive Budget Act."
00HOUSE CS FOR SENATE BILL NO. 92(STA) 01 "An Act requiring that, in addition to its operating budget, activities of the 02 Alaska Housing Finance Corporation, except the corporation's unsubsidized 03 mortgage loan activities and except certain of the corporation's multi-family loans 04 and projects, are subject to the Executive Budget Act." 05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 06 * Section 1. AS 18.56.089(a) is amended to read: 07 (a) The provisions of AS 37.07 (Executive Budget Act) 08 (1) apply to 09 [(A)] the operating budget of the corporation, to all [; 10 (B) AMOUNTS PAYABLE FROM CORPORATE EARNINGS 11 OR ASSETS OF THE CORPORATION FOR GRANTS OR GRANT 12 PROGRAMS AUTHORIZED BY THIS CHAPTER; 13 (C) INTEREST RATE SUBSIDIES AND BUILDING 14 SUBSIDIES AS DETERMINED BY THE CORPORATION, EXCEPT
01 SUBSIDIES PAYABLE FROM THE CORPORATION'S ARBITRAGE 02 EARNINGS; 03 (D)] activities of the corporation under AS 18.55, and, except 04 as otherwise specifically provided in (2) of this subsection, to the activities 05 of the corporation under this chapter [AS 18.55.010 - 18.55.960]; 06 (2) do not apply to activities of the corporation under this chapter that 07 relate to 08 (A) the corporation's borrowing of money as provided in 09 this chapter to make, purchase, and service mortgage loans, including the 10 issuing of its obligations or evidence of that borrowing and the repayment 11 of the debt obligation; 12 (B) multi-family loans and projects not to exceed 13 $10,000,000 individually that may require grants or tax credits or that use 14 arbitrage earnings as subsidies; and 15 (C) the corporation's loan programs for which a subsidy is 16 not provided [EXCEPT AS PROVIDED IN (1) OF THIS SUBSECTION OR 17 AS OTHERWISE SPECIFICALLY PROVIDED IN THIS CHAPTER].