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30th Legislature(2017-2018)

Bill Text 30th Legislature


00 Enrolled HB 56                                                                                                          
01 Relating to limitations on certain commercial fishing loans made by the Department of                                   
02 Commerce, Community, and Economic Development.                                                                          
03                           _______________                                                                               
04    * Section 1. AS 16.10.320(d) is amended to read:                                                                     
05 (d)  The total of balances outstanding on loans made to a borrower under                                                
06 AS 16.10.310(a)(1)(A) may not exceed $400,000 [$300,000]. The total of balances                                       
07 outstanding on loans made to a borrower under AS 16.10.310(a)(1)(B) may not exceed                                      
08 $200,000 [FOR THE PURCHASE OF AN ENTRY PERMIT AND MAY NOT                                                               
09 EXCEED $100,000 FOR ALL OTHER LOANS UNDER THAT                                                                          
10 SUBPARAGRAPH]. The total of balances outstanding on loans made to a borrower                                            
11 under AS 16.10.310(a)(1)(C) may not exceed $400,000 [$300,000]. The total of                                          
12 balances outstanding on loans made to a borrower under AS 16.10.310(a)(1)(D) to                                         
13 satisfy past due federal tax obligations may not exceed $35,000. The total of balances                                  
14 outstanding on loans made under AS 16.10.310(a)(1)(E) may not exceed $2,000,000                                         
01 for each community eligible under federal statute or regulation to establish or                                         
02 participate in the establishment of a community quota entity. The total of balances                                     
03 outstanding on loans made to a borrower under AS 16.10.310(a)(1)(F) may not exceed                                      
04 $400,000 [$300,000]. Excluding loans made under AS 16.10.310(a)(1)(E), the total of                                   
05 balances outstanding on all loans, including debt refinancing under AS 16.10.310(a),                                    
06       made to a borrower under AS 16.10.300 - 16.10.370 may not exceed $400,000.                                        
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