2025-07-30                     Senate Journal                      Page 1412
SB 39                                                                                                                         
Letter dated June 24 was received:                                                                                              
                                                                                                                                
Dear President Stevens:                                                                                                         
                                                                                                                                
Under the authority vested in me by Article II, Section 15, of the                                                              
Alaska Constitution, I have vetoed the following bill:                                                                          

2025-07-30                     Senate Journal                      Page 1413
         CS FOR SENATE BILL NO. 39(FIN) "An Act                                                                                 
         relating to loans in an amount of $25,000 or less;                                                                     
         relating to financial institutions; relating to the                                                                    
         Nationwide Multistate Licensing System and                                                                             
         Registry; relating to pawnbroker licensing                                                                             
         exemptions; relating to deferred deposit advances;                                                                     
         relating to computing interest; and providing for an                                                                   
         effective date."                                                                                                       
                                                                                                                                
SB 39 replaces the State’s existing small-loan framework with                                                                   
substantially reduced rate limits and new compliance requirements.                                                              
These changes would reduce short-term credit options - particularly                                                             
for those without access to traditional banking services - while                                                                
creating enforcement challenges for the State.                                                                                  
                                                                                                                                
Sincerely,                                                                                                                      
/s/                                                                                                                             
Mike Dunleavy                                                                                                                   
Governor