00                             HOUSE BILL NO. 226                                                                          
01 "An Act increasing the loan amount that is eligible for lower interest rates on certain                                 
02 Alaska Housing Finance Corporation loans."                                                                              
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 18.56.470(a) is amended to read:                                                                   
05 (a)  The interest rate on a mortgage loan originated or purchased in whole or in                                        
06 part under AS 18.56.420 for small community housing or multi-family housing under                                       
07 AS 18.56.580 is one percent less than the interest rate, as determined under                                            
08 AS 18.56.098(f)(1) - (4), on a mortgage loan purchased under AS 18.56.098(a) from                                       
09 the proceeds of the most recent applicable issue of taxable bonds before the                                            
10 origination or purchase of the mortgage loan originated or purchased under                                              
11 AS 18.56.420. However, the interest rate on that portion of a loan that exceeds                                         
12 $400,000 [$250,000] is the same as the interest rate determined under                                               
13       AS 18.56.098(f)(1) - (4).