Enrolled HB 56: Relating to limitations on certain commercial fishing loans made by the Department of Commerce, Community, and Economic Development.
00Enrolled HB 56 01 Relating to limitations on certain commercial fishing loans made by the Department of 02 Commerce, Community, and Economic Development. 03 _______________ 04 * Section 1. AS 16.10.320(d) is amended to read: 05 (d) The total of balances outstanding on loans made to a borrower under 06 AS 16.10.310(a)(1)(A) may not exceed $400,000 [$300,000]. The total of balances 07 outstanding on loans made to a borrower under AS 16.10.310(a)(1)(B) may not exceed 08 $200,000 [FOR THE PURCHASE OF AN ENTRY PERMIT AND MAY NOT 09 EXCEED $100,000 FOR ALL OTHER LOANS UNDER THAT 10 SUBPARAGRAPH]. The total of balances outstanding on loans made to a borrower 11 under AS 16.10.310(a)(1)(C) may not exceed $400,000 [$300,000]. The total of 12 balances outstanding on loans made to a borrower under AS 16.10.310(a)(1)(D) to 13 satisfy past due federal tax obligations may not exceed $35,000. The total of balances 14 outstanding on loans made under AS 16.10.310(a)(1)(E) may not exceed $2,000,000
01 for each community eligible under federal statute or regulation to establish or 02 participate in the establishment of a community quota entity. The total of balances 03 outstanding on loans made to a borrower under AS 16.10.310(a)(1)(F) may not exceed 04 $400,000 [$300,000]. Excluding loans made under AS 16.10.310(a)(1)(E), the total of 05 balances outstanding on all loans, including debt refinancing under AS 16.10.310(a), 06 made to a borrower under AS 16.10.300 - 16.10.370 may not exceed $400,000.