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Alaska2026Passed Legislature

HB388

Bulk Fuel Loan Cap

Last scannedAug 22, 2026, 12:25 AM

In one sentence

This law raises the maximum loan amount from Alaska's bulk fuel accounts to $1,500,000 and sets rules for repaying these loans within one year.

What it does

  • Increases the single borrower loan limit in the bulk fuel loan account to $1,500,000.
  • Allows cooperative corporations serving multiple communities to borrow up to $1,500,000 for each community they serve.
  • Raises the annual loan limit in the bulk fuel bridge loan account to $1,500,000 per borrower.
  • Requires all loans from these accounts to be repaid within one year of receiving the money.
  • Allows the legislature to add funds to the revolving loan fund if there is not enough money available for eligible borrowers in 2026 and 2027.

Who it affects

  • Borrowers who receive loans from the bulk fuel loan account.
  • Cooperative corporations organized under state law that buy fuel for multiple communities.
  • The Alaska legislature regarding funding decisions for the revolving loan fund.

Limits and unknowns

  • The law applies only to loans existing on or entered into on or after the effective date.
  • Loans may include additional terms and conditions required by the division managing the accounts.
  • Legislative funding for the revolving loan fund is optional and depends on whether current funds are insufficient.

Plain language

Terms to know

Bulk Fuel Loan Account
A state account used to make loans for purchasing bulk fuel, with limits set by law.
Cooperative Corporation
An organization organized under AS 10.15 or an electric cooperative under AS 10.25 that buys fuel on behalf of multiple communities.

Official record

Sources

Validated
Official bill pageIntroduced textCurrent bill textStored full record

Official summary

BULK FUEL LOAN CAP An Act relating to loans made from the bulk fuel loan account; and providing for an effective date.

Official activity

Bill history

  1. (H) EFFECTIVE DATE(S) OF LAW 7/3/263162
  2. (H) LAW W/O GOV SIGNATURE 6/30 CH 47 SLA 263162
  3. (H) 3:10 P.M. 6/15/26 TRANSMITTED TO GOVERNOR3096
  4. (S) VERSION: CSHB 388(FIN)2842
  5. (S) RETURN TO (H), TRANSMIT TO GOV NEXT2842
  6. (S) EFFECTIVE DATE(S) SAME AS PASSAGE2842
  7. (S) PASSED Y20 N-2842
  8. (S) READ THE THIRD TIME CSHB 388(FIN)2842
  9. (S) ADVANCED TO THIRD READING UC2842
  10. (S) READ THE SECOND TIME2842
  11. (S) RULES TO CALENDAR 5/20/20262842
  12. (S) FN2: INDETERMINATE(H.FIN/FUND TRANSFERS)2711
  13. (S) FN1: ZERO(CED)2711
  14. (S) NR: KAUFMAN, MERRICK2711
  15. (S) DP: OLSON, STEDMAN, HOFFMAN, CRONK, KIEHL2711
  16. (S) FIN RPT 5DP 2NR2711
  17. (S) Moved CSHB 388(FIN) Out of Committee -- Please Note Time Change --Text
  18. (S) FINANCE at 09:00 AM SENATE FINANCE 532Text
  19. (S) Minutes (SFIN)Min
  20. (S) Heard & Held -- Please Note Time Change --Text