HB 20: "An Act relating to commercial fishing loans for energy efficiency upgrades."
00 HOUSE BILL NO. 20 01 "An Act relating to commercial fishing loans for energy efficiency upgrades." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 16.10.310(a) is amended to read: 04 (a) The department may 05 (1) make loans 06 (A) to individual commercial fishermen who have been state 07 residents for a continuous period of two years immediately preceding the date 08 of application for a loan under AS 16.10.300 - 16.10.370, who have had an 09 annual crewmember or commercial fishing license under AS 16.05.480 or a 10 permit under AS 16.43 for the year immediately preceding the date of 11 application and any other two of the past five years, and who actively 12 participated in the fishery during those periods 13 (i) for the purchase of entry permits; or 14 (ii) to upgrade existing vessels and gear for the purpose 15 of improving the quality of Alaska seafood products; or of improving
01 energy efficiency; 02 (B) to an individual for the repair, restoration, or upgrading of 03 existing vessels and gear, for the purchase of entry permits and gear, and for 04 the construction and purchase of vessels, if the individual has been a state 05 resident for a continuous period of two years immediately preceding the date 06 of application for a loan under AS 16.10.300 - 16.10.370, is not eligible for 07 financing from a state financial institution as defined in AS 06.01.050, a 08 federally chartered financial institution, or the Commercial Fishing and 09 Agricultural Bank, and 10 (i) because of lack of training or lack of employment 11 opportunities in the area of residence, does not have occupational 12 opportunities available other than commercial fishing; or 13 (ii) is economically dependent on commercial fishing 14 for a livelihood and for whom commercial fishing has been a traditional 15 way of life in Alaska; 16 (C) for the purchase of quota shares for fisheries in or off the 17 state by individual commercial fishermen who 18 (i) have been state residents for a continuous period of 19 two years immediately preceding the date of application for a loan 20 under AS 16.10.300 - 16.10.370; 21 (ii) for any two of the past five years, possessed an 22 annual crewmember or commercial fishing license under AS 16.05.480 23 or a permit under AS 16.43 and actively participated in a fishery for 24 which the license or permit was issued; 25 (iii) qualify as transferees for quota shares under 26 applicable law; and 27 (iv) are not eligible for financing from other recognized 28 commercial lending institutions to purchase quota shares; 29 (D) to an individual commercial fisherman to satisfy past due 30 federal tax obligations, if the fisherman has been a state resident for a 31 continuous period of two years immediately preceding the date of application
01 for the loan, has filed past and current federal tax returns with the federal 02 government, has executed an agreement with the federal government for 03 repayment of past due federal tax obligations, and either 04 (i) because of lack of training or lack of employment 05 opportunities in the area of residence, does not have occupational 06 opportunities available other than commercial fishing; or 07 (ii) is economically dependent on commercial fishing 08 for a livelihood and for whom commercial fishing has been a traditional 09 way of life in Alaska; 10 (E) for the purchase of fishing quota shares by a community 11 quota entity eligible under federal statute or regulation to purchase the fishing 12 quota shares if the community quota entity is not eligible or qualified for 13 financing from other recognized commercial lending institutions to purchase 14 the fishing quota shares; 15 (F) to an individual for the upgrade of existing tender vessels 16 and gear to improve the quality of Alaska seafood products, if the individual 17 has been a state resident for a continuous period of two years immediately 18 preceding the date of application for a loan under AS 16.10.300 - 16.10.370; 19 (2) designate agents and delegate its powers to them as necessary; 20 (3) adopt regulations necessary to carry out the provisions of 21 AS 16.10.300 - 16.10.370, including regulations to establish reasonable fees for 22 services provided; 23 (4) establish amortization plans for repayment of loans, which may 24 include extensions for poor fishing seasons or for adverse market conditions for 25 Alaska products; 26 (5) enter into agreements with private lending institutions, other state 27 agencies, or agencies of the federal government to carry out the purposes of 28 AS 16.10.300 - 16.10.370; 29 (6) enter into agreements with other agencies or organizations to create 30 an outreach program to make loans under AS 16.10.300 - 16.10.370 in rural areas of 31 the state;
01 (7) allow an assumption of a loan if 02 (A) the applicant has been a state resident for a continuous 03 period of two years immediately preceding the date of the request for an 04 assumption; and 05 (B) approval of the assumption would be consistent with the 06 purposes of AS 16.10.300; an applicant for a loan assumption may not be 07 disqualified because the applicant does not meet the loan eligibility 08 requirements of (1) of this subsection; 09 (8) prequalify loan applicants for a limited entry permit loan or a quota 10 shares loan and charge a fee not to exceed $200 for prequalification; 11 (9) charge and collect the fees established under this subsection; 12 (10) refinance a debt obligation incurred by a borrower or borrowers 13 under this section if the borrower or borrowers otherwise qualify for a loan under 14 AS 16.10.300 - 16.10.370; 15 (11) refinance debt obligations, not to exceed $200,000, incurred by a 16 borrower or borrowers for the purchase of a commercial fishing vessel or gear if the 17 borrower or borrowers otherwise qualify for a loan under AS 16.10.300 - 16.10.370; 18 the department may collect a refinancing loan origination charge as provided by 19 regulation.