KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Alaska

HB226 • 2026

AHFC: REDUCED INTEREST ON CERTAIN LOANS

An Act increasing the loan amount that is eligible for lower interest rates on certain Alaska Housing Finance Corporation loans.

Housing
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
REPRESENTATIVES FOSTER, Carrick
Last action
2026-05-19
Official status
(H) FIN
Effective date
Not listed

Plain English Breakdown

The official source material does not provide specific details about keeping the lower interest rate benefit annually, only that it applies to loans up to $400,000 initially and adjusts based on inflation.

Reduced Interest Rates for Certain AHFC Loans

This act increases the loan amount eligible for lower interest rates on certain Alaska Housing Finance Corporation loans.

What This Bill Does

  • Changes the maximum loan size that qualifies for reduced interest rates from $250,000 to $400,000.
  • Adjusts this limit annually based on inflation as measured by the Consumer Price Index for urban Alaska.

Who It Names or Affects

  • People who take out or purchase small community housing and multi-family housing loans from AHFC.

Terms To Know

Alaska Housing Finance Corporation (AHFC)
A state agency that provides affordable housing options through various loan programs.
Consumer Price Index for urban Alaska
An economic measure of inflation used to adjust the maximum loan amount annually.

Limits and Unknowns

  • The bill does not specify how many people will benefit from this change.
  • It is unclear what the exact impact on AHFC's finances will be due to these changes.

Bill History

  1. 2026-05-19 Text

    (H) Scheduled but Not Heard -- Delayed to a Call of the Chair --

  2. 2026-05-19 Text

    (H) FINANCE at 01:30 PM ADAMS 519

  3. 2026-05-19 Text

    (H) -- Public Testimony -- -- Delayed to 9:00 am --

  4. 2026-05-19 Text

    (H) FINANCE at 08:00 AM ADAMS 519

  5. 2026-05-18 Text

    (H) Scheduled but Not Heard -- Recessed to a Call of the Chair --

  6. 2026-05-18 Text

    (H) FINANCE at 06:00 PM ADAMS 519

  7. 2026-05-18 Text

    (H) -- Public Testimony -- -- Delayed to a Call of the Chair --

  8. 2026-05-18 Text

    (H) FINANCE at 01:30 PM ADAMS 519

  9. 2026-05-18 Text

    (H) -- Public Testimony -- -- Delayed to a Call of the Chair --

  10. 2026-05-18 Text

    (H) FINANCE at 09:00 AM ADAMS 519

  11. 2026-05-06 2426

    (H) COSPONSOR(S): CARRICK

  12. 2026-04-22 2255

    (H) REFERRED TO FINANCE

  13. 2026-04-22 2255

    (H) FN1: (REV)

  14. 2026-04-22 2255

    (H) NR: VANCE, MCCABE

  15. 2026-04-22 2255

    (H) DP: ST. CLAIR, HOLLAND, HIMSCHOOT, STORY, CARRICK

  16. 2026-04-22 2255

    (H) STA RPT CS(STA) 5DP 2NR

  17. 2026-04-21 Text

    (H) Moved CSHB 226(STA) Out of Committee

  18. 2026-04-21 Text

    (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  19. 2026-04-09 Text

    (H) -- MEETING CANCELED --

  20. 2026-04-09 Text

    (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  21. 2026-04-07 Text

    (H) Heard & Held

  22. 2026-04-07 Text

    (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  23. 2026-04-02 Text

    (H) Heard & Held -- Delayed to 3:45 pm --

  24. 2026-04-02 Text

    (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120

  25. 2025-05-12 1138

    (H) STA, FIN

  26. 2025-05-12 1138

    (H) READ THE FIRST TIME - REFERRALS

Official Summary Text

AHFC: REDUCED INTEREST ON CERTAIN LOANS
An Act increasing the loan amount that is eligible for lower interest rates on certain Alaska Housing Finance Corporation loans.

Current Bill Text

Read the full stored bill text 
HB0226b -1- CSHB 226(STA)
New Text Underlined [DELETED TEXT BRACKETED]

34-LS0942\N

CS FOR HOUSE BILL NO. 226(STA)

IN THE LEGISLATURE OF THE STATE OF ALASKA

THIRTY-FOURTH LEGISLATURE - SECOND SESSION

BY THE HOUSE STATE AFFAIRS COMMITTEE

Offered: 4/22/26
Referred: Finance

Sponsor(s): REPRESENTATIVE FOSTER
A BILL

FOR AN ACT ENTITLED

"An Act increasing the loan amount that is eligible for lower interest rates on certain 1
Alaska Housing Finance Corporation loans." 2
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 3
* Section 1. AS 18.56.470(a) is amended to read: 4
(a) The interest rate on a mortgage loan originated or purchased in whole or in 5
part under AS 18.56.420 for small community housing or multi-family housing under 6
AS 18.56.580 is one percent less than the interest rate, as determined under 7
AS 18.56.098(f)(1) - (4), on a mortgage loan purchased under AS 18.56.098(a) from 8
the proceeds of the most recent applicable issue of taxable bonds before the 9
origination or purchase of the mortgage loan originated or purchased under 10
AS 18.56.420. However, the portion of a loan that exceeds $400,000, adjusted 11
annually for inflation on July 1 of each year based on the percentage increase in 12
the Consumer Price Index for all urban consumers for urban Alaska during the 13
previous calendar year, as determined by the United States Department of 14
34-LS0942\N
CSHB 226(STA) -2- HB0226b
New Text Underlined [DELETED TEXT BRACKETED]

Labor, Bureau of Labor Statistics, has [INTEREST RATE ON THAT PORTION 1
OF A LOAN THAT EXCEEDS $250,000 IS THE SAME AS] the interest rate 2
determined under AS 18.56.098(f)(1) - (4). 3