Alaska2026Passed Legislature
HB355
HB 355: Updates on Farm Loans and Workers' Compensation Exemptions
Last scannedSep 20, 2026, 12:32 AM
In one sentence
This bill expands the types of loans available for agricultural projects in Alaska and adds members of agricultural cooperatives to the list of workers not covered by state workers' compensation laws.
What it does
- Allows the Board of Agriculture and Conservation to make loans for clearing land, developing farms, storing or processing farm produce, buying livestock or machinery, making food or animal feed in-state, and paying shipping costs within Alaska.
- Permits loan repayment plans that can delay payments on principal and interest for up to five years.
- Allows the board to refinance existing debts if a borrower qualifies under current rules.
- Adds members of agricultural cooperatives to the list of people not covered by workers' compensation laws.
- Defines specific requirements for independent contractors, such as having an express contract and meeting tax filing or insurance criteria, so they are excluded from workers' coverage.
Who it affects
- Farmers, homesteaders, partnerships, cooperatives, and corporations seeking agricultural loans in Alaska.
- Members of agricultural cooperatives who work on farms or related businesses.
- Independent contractors who meet the specific business ownership criteria listed in the bill.
- The Board of Agriculture and Conservation.
Limits and unknowns
- The bill does not state the maximum dollar amount for loans or interest rates.
- It is unclear how many people will qualify under the new independent contractor definition until regulations are written.
- The effective date of July 1, 2026, means these rules do not apply to any work done before that day.
Plain language
Terms to know
- Agricultural Cooperative
- A group organized to sell members' farm products or buy supplies for them at actual cost plus necessary expenses.
- Independent Contractor
- A worker who has a contract, controls how they do their work, pays most business costs, and meets specific tax and insurance rules to be treated as self-employed rather than an employee.
Official record
Sources
Official summary
AG LOANS/AG COOPERATIVES An Act relating to agricultural loans; relating to agricultural cooperatives; relating to workers' compensation; and providing for an effective date.
Official activity
Bill history
- (H) REFERRED TO COMMUNITY & REGIONAL AFFAIRS1690
- (H) CRA, L&C1690
- (H) READ THE FIRST TIME - REFERRALS1690