Alaska2026Passed Legislature

SB288

SB288: Bulk Fuel Loan Cap

Last scannedSep 12, 2026, 4:46 AM

In one sentence

This law raises the maximum loan amount from Alaska's bulk fuel accounts to $1,500,000 per borrower and requires all loans to be paid back within one year.

Increases the single-borrower loan limit for the bulk fuel loan account from $750,000 to $1,500,000.
Allows cooperative corporations buying fuel for multiple communities to receive up to $1,500,000 multiplied by the number of communities served.
Increases the single-borrower loan limit for the bulk fuel bridge loan account from $750,000 to $1,500,000 per fiscal year.
Requires all loans from these accounts to be repaid within one year after the money is given out.
Applies these new rules to both existing loans and any new loans made on or after the effective date.

Borrowers who receive funds from the bulk fuel loan account.
Cooperative corporations organized under AS 10.15 that purchase fuel for multiple communities.
Electric cooperatives organized under AS 10.25 that purchase fuel for multiple communities.

The bill text does not list a specific calendar date when the law becomes effective, only stating it takes effect immediately.
The exact number of communities served by any borrower must be determined to calculate their maximum loan amount under the new rules.

Plain language

Bulk Fuel Loan Account: A state fund used to lend money so groups can buy large amounts of heating or vehicle fuel at once.
Bridge Loan Account: A separate state fund that provides short-term loans for bulk fuel purchases until other funding is available.

Official record

Validated

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

Official activity