00                            HOUSE BILL NO. 196                                                                          
01 "An Act relating to the alternative energy project loan program of the Alaska Industrial                                
02 Development and Export Authority."                                                                                      
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 44.88 is amended by adding a new section to read:                                                 
05              Article 7A.  Alternative Energy Project Loan Program.                                                    
06            Sec. 44.88.650.  Alternative energy project loans.  (a)  There is established in                           
07       the authority the alternative energy project loan program to encourage the                                        
08       development of alternative energy projects in the state.  The authority may use money                             
09       in the revolving fund to make loans under the program to provide financing for all or                             
10       part of the project cost of an alternative energy project.                                                        
11            (b)  Interest may not be charged or collected on a loan made under this section                              
12       during the first 10 years after the date the loan agreement is executed.  However, the                            
13       authority may require the borrower to pay costs associated with the loan.  The                                    
14       authority may adopt regulations that establish additional terms and conditions for                                

01       alternative energy project loans, including those relating to borrower eligibility                                
02       requirements.