00                      CS FOR SENATE BILL NO. 188(CRA)                                                                    
01 "An Act increasing the maximum amount of loans from the bulk fuel revolving loan                                        
02 fund to one borrower."                                                                                                  
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 42.45.250(e) is amended to read:                                                                  
05            (e)  Loans made from the bulk fuel revolving loan fund to one borrower in any                                
06       fiscal year                                                                                                       
07                 (1)  may not exceed $300,000, or, if the borrower is a cooperative                                  
08       corporation organized under AS 10.15 or an electric cooperative organized under                               
09       AS 10.25 and uses the loan to purchase bulk fuel on behalf of more than one                                   
10       community, may not exceed $300,000 multiplied by the number of communities                                    
11       on whose behalf the bulk fuel is to be purchased, or $1,000,000, whichever is                                 
12       greater;                                                                                                      
13                 (2)  shall be repaid in one year or less; and                                                           
14                 (3)  may not exceed 90 percent of the wholesale price of the fuel                                       
01       purchased.