SCS HB 252(FIN): "An Act amending the Commercial Fishing Loan Act to authorize refinancing of existing loans made under that Act."
00SENATE CS FOR HOUSE BILL NO. 252(FIN) 01 "An Act amending the Commercial Fishing Loan Act to authorize refinancing of 02 existing loans made under that Act." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 16.10.310(a) is amended to read: 05 (a) The department may 06 (1) make loans to 07 (A) individual commercial fishermen who have been state 08 residents for a continuous period of two years immediately preceding the date 09 of application for a loan under AS 16.10.300 - 16.10.370 and have had a 10 crewmember or commercial fishing license under AS 16.05.480 or a permit 11 under AS 16.43 for the year immediately preceding the date of application and 12 any other two of the past five years, and who actively participated in the 13 fishery during those periods, for the purchase of entry permits; 14 (B) an individual for the repair, restoration, or upgrading of
01 existing vessels and gear, for the purchase of entry permits and gear, and for 02 the construction and purchase of vessels, if the individual has been a state 03 resident for a continuous period of two years immediately preceding the date 04 of application for a loan under AS 16.10.300 - 16.10.370, and either 05 (i) because of lack of training or lack of employment 06 opportunities in the area of residence does not have occupational 07 opportunities available other than commercial fishing; or 08 (ii) is economically dependent on commercial fishing for 09 a livelihood and for whom commercial fishing has been a traditional 10 way of life in Alaska; 11 (2) designate agents and delegate its powers to them as necessary; 12 (3) adopt regulations necessary to carry out the provisions of 13 AS 16.10.300 - 16.10.370, including regulations to establish reasonable fees for 14 services provided; 15 (4) establish amortization plans for repayment of loans, which may 16 include extensions for poor fishing seasons or for adverse market conditions for 17 Alaskan products; 18 (5) enter into agreements with private lending institutions, other state 19 agencies, or agencies of the federal government, to carry out the purposes of 20 AS 16.10.300 - 16.10.370; 21 (6) enter into agreements with other agencies or organizations to create 22 an outreach program to make loans under AS 16.10.300 - 16.10.370 in rural areas of 23 the state; 24 (7) allow an assumption of a loan if 25 (A) the applicant has been a state resident for a continuous 26 period of two years immediately preceding the date of the request for an 27 assumption; and 28 (B) approval of the assumption would be consistent with the 29 purposes of AS 16.10.300; an applicant for a loan assumption may not be 30 disqualified because the applicant does not meet the loan eligibility 31 requirements of (1) of this subsection;
01 (8) prequalify loan applicants for a limited entry permit loan and charge 02 a fee not to exceed $200 for prequalification; 03 (9) charge and collect the fees established under this subsection; 04 (10) refinance a debt obligation incurred by a borrower or 05 borrowers under this section if the borrower or borrowers otherwise qualify for 06 a loan under AS 16.10.300 - 16.10.370; the department shall collect a refinancing 07 loan origination charge of one-half percent of the amount of the debt obligation 08 that has been refinanced when the first refinancing payment is due.