HB 253: "An Act relating to the fisheries enhancement loan program; and providing for an effective date."
00 HOUSE BILL NO. 253 01 "An Act relating to the fisheries enhancement loan program; and providing for an 02 effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 16.10.500 is amended to read: 05 Sec. 16.10.500. Declaration of policy. It is the policy of the state, under 06 AS 16.10.500 - 16.10.560, to promote the enhancement of the state's fisheries by 07 making 08 (1) [MEANS OF] grants for organizational and planning purposes to 09 regional associations described in AS 16.10.510 that have qualified under 10 AS 16.10.380; [,] and 11 (2) [BY MEANS OF] long-term, low-interest [LOW INTEREST] 12 loans for hatchery planning, construction, and operation, and for planning and 13 implementation of enhancement and rehabilitation activities, including [, BUT NOT 14 LIMITED TO,] lake fertilization and habitat improvement, to
01 (A) regional associations described in AS 16.10.510 that 02 have qualified under AS 16.10.380; and 03 (B) federally recognized tribal organizations that operate 04 (i) fish hatcheries on an Indian reservation; or 05 (ii) under the terms of a federal permit. 06 * Sec. 2. AS 16.10.510 is amended to read: 07 Sec. 16.10.510. Powers and duties of the commissioner. The commissioner 08 may 09 (1) make loans to permit holders [,] under AS 16.10.400 - 16.10.470, 10 including those holders issued permits before June 24, 1977, and tribal organizations 11 under AS 16.10.500(2)(B), for the planning, construction, and operation of hatchery 12 facilities; 13 (2) make loans to qualified regional associations that have formed a 14 nonprofit corporation, [OR] a local nonprofit corporation approved by a qualified 15 regional association, or a tribal organization under AS 16.10.500(2)(B) for 16 preconstruction activities necessary to obtain a permit; 17 (3) designate agents and delegate powers to them as necessary; 18 (4) adopt regulations necessary to carry out the provisions of 19 AS 16.10.500 - 16.10.560, including regulations to establish reasonable fees for 20 services provided; 21 (5) establish amortization plans for repayment of loans, not to exceed 22 30 years unless the commissioner has extended the term of the loan beyond 30 years 23 under (11) of this section; 24 (6) establish the rate of interest for loans not to exceed nine and one- 25 half percent a year; 26 (7) establish regional and local offices and advisory groups to carry 27 out, or assist in carrying out, the duties and authority of the commissioner; 28 (8) make grants for organizational and planning purposes to qualified 29 regional associations that have formed a nonprofit corporation, in amounts not 30 exceeding $100,000 a [PER] region and up to an additional $100,000 on a 50/50 cash 31 matching basis with the regional associations that have an authorized royalty
01 assessment under AS 16.10.540; the state portion of the matching share shall be 02 available when a final vote for assessments is made under AS 16.10.540; this 03 provision also applies to qualified regional associations that have formed a nonprofit 04 corporation before June 24, 1977; 05 (9) make loans to qualified regional associations that have formed a 06 nonprofit corporation, [OR] to local nonprofit corporations approved by qualified 07 regional associations, or to tribal organizations under AS 16.10.500(2)(B) for 08 planning and implementation of fisheries enhancement and rehabilitation activities 09 including, but not limited to, lake fertilization and habitat improvement; 10 (10) refinance a debt obligation incurred by a borrower under this 11 section if the borrower otherwise qualifies for a loan under AS 16.10.500 - 16.10.560; 12 the interest rate for a loan to refinance a debt obligation incurred under this section 13 may not exceed the interest rate that is in effect for new loans under this section at the 14 time that the loan commitment for the refinancing loan is made; a loan made under 15 this paragraph is not subject to AS 16.10.525; 16 (11) extend the term of a loan made under this section if the 17 commissioner finds that extension of the term of the loan would alleviate an undue 18 financial hardship on the borrower; the commissioner shall submit annually a report to 19 the legislature summarizing the commissioner's decisions during the prior calendar 20 year to approve or deny requests to extend loans under this paragraph and the reasons 21 for the decisions; 22 (12) charge and collect the fees established under this section. 23 * Sec. 3. AS 16.10.520(a) is amended to read: 24 (a) A single fisheries enhancement loan may not exceed $10,000,000 for a 25 hatchery or other enhancement or rehabilitation activity conducted under a permit 26 granted to a qualified regional association that has formed a nonprofit corporation, 27 [OR] to a local nonprofit corporation approved by a qualified regional association, or 28 to a tribal organization under AS 16.10.500(2)(B). A loan for any other nonprofit 29 hatchery corporation or tribal organization project may not exceed $1,000,000. 30 * Sec. 4. This Act takes effect July 1, 2026.