This bill amends existing laws regarding loans from the bulk fuel loan account and the bulk fuel bridge loan account in Alaska. Specifically, it increases the maximum loan amount for both accounts from $750,000 to $1,500,000 for individual borrowers. Additionally, for cooperative corporations or electric cooperatives that purchase bulk fuel on behalf of multiple communities, the loan limit remains at $1,500,000 multiplied by the number of communities served, removing the previous cap of $1,800,000.

The bill also stipulates that these loans must be repaid within one year of disbursement and may include additional terms as required by the division. Furthermore, the amendments apply to loans that are existing or entered into on or after the effective date of the Act, which takes effect immediately.

Statutes affected:
HB0388A, AM HB 388, introduced 05/01/2026: 42.45.260, 42.45.270