Alaska2026Passed Legislature

HB253

Fisheries Enhancement Loan Program Update

Last scannedSep 21, 2026, 12:32 AM

In one sentence

This bill updates Alaska law to allow federally recognized tribal organizations that operate fish hatcheries on Indian reservations or under federal permits to receive state fisheries enhancement loans.

Adds federally recognized tribal organizations as eligible recipients of long-term, low-interest loans for hatchery planning, construction, and operation.
Allows the commissioner to make loans to tribes operating fish hatcheries on Indian reservations or under federal permits.
Sets a maximum loan amount of $10,000,000 for projects by qualified regional associations with nonprofit corporations, local nonprofits approved by them, or eligible tribal organizations.
Limits other nonprofit hatchery corporation and tribal organization project loans to no more than $1,000,000 each.
Requires the commissioner to report annually on decisions to extend loan terms due to financial hardship.

The bill does not specify the total amount of money available for these new loans.
Interest rates are capped at nine and one-half percent per year, but exact rates depend on commissioner decisions.
Loan terms can be extended beyond 30 years only if the commissioner finds it necessary to prevent financial hardship.

Plain language

Fisheries enhancement loan program: A state system providing long-term, low-interest loans for hatchery planning, construction, and operation.
Regional association: An organization described in Alaska law that manages local fisheries projects.

Official record

Validated

FISHERIES ENHANCEMENT LOAN PROGRAM An Act relating to the fisheries enhancement loan program; and providing for an effective date.

Official activity