This bill amends the existing fisheries enhancement loan program in Alaska to broaden the eligibility for loans and grants aimed at promoting the enhancement of the state's fisheries. Key changes include the introduction of low-interest loans specifically for federally recognized tribal organizations that operate fish hatcheries, either on Indian reservations or under federal permits. Additionally, the bill allows for grants to regional associations for organizational and planning purposes, with a maximum of $100,000 per region, and an additional matching amount under certain conditions.

The bill also updates the powers and duties of the commissioner overseeing the program, allowing for loans to tribal organizations and expanding the types of entities eligible for financial assistance. The maximum loan amount for hatchery projects is set at $10 million, while loans for other nonprofit hatchery projects or tribal organizations are capped at $1 million. The act is set to take effect on July 1, 2026.

Statutes affected:
HB0253A, AM HB 253, introduced 01/16/2026: 16.10.500, 16.10.560, 16.10.510, 16.10.380, 16.10.400, 16.10.470, 16.10.540, 16.10.525, 16.10.520