Read the full stored bill text
SB0288A -1- SB 288
New Text Underlined [DELETED TEXT BRACKETED]
34-LS1680\A
SENATE BILL NO. 288
IN THE LEGISLATURE OF THE STATE OF ALASKA
THIRTY-FOURTH LEGISLATURE - SECOND SESSION
BY THE SENATE FINANCE COMMITTEE
Introduced: 5/6/26
Referred: Finance
A BILL
FOR AN ACT ENTITLED
"An Act relating to loans made from the bulk fuel loan account; and providing for an 1
effective date." 2
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 3
* Section 1. AS 42.45.260(d) is amended to read: 4
(d) Loans made from the bulk fuel loan account to one borrower 5
(1) may not exceed $1,500,000 [$750,000] or, if the borrower is a 6
cooperative corporation organized under AS 10.15 or an electric cooperative 7
organized under AS 10.25 and uses the loan to purchase bulk fuel on behalf of more 8
than one community, may not exceed $1,500,000 [$750,000] multiplied by the number 9
of communities on whose behalf the bulk fuel is to be purchased [OR $1,800,000, 10
WHICHEVER IS LESS]; 11
(2) shall be repaid within one year after the date of the loan 12
disbursement; and 13
(3) may include additional terms and conditions required by the 14
34-LS1680\A
SB 288 -2- SB0288A
New Text Underlined [DELETED TEXT BRACKETED]
division. 1
* Sec. 2. AS 42.45.270(c) is amended to read: 2
(c) Loans made from the bulk fuel bridge loan account to one borrower in a 3
fiscal year 4
(1) may not exceed $1,500,000 [$750,000]; 5
(2) shall be repaid within one year after the date of the loan 6
disbursement; and 7
(3) may include additional terms and conditions required by the 8
division. 9
* Sec. 3. The uncodified law of the State of Alaska is amended by adding a new section to 10
read: 11
APPLICABILITY. AS 42.45.260(d), as amended by sec. 1 of this Act, and 12
AS 42.45.270(c), as amended by sec. 2 of this Act, apply to loans existing on or entered into 13
on or after the effective date of this Act. 14
* Sec. 4. This Act takes effect immediately under AS 01.10.070(c). 15