This bill amends existing laws regarding loans from the bulk fuel loan account in Alaska. Specifically, it increases the maximum loan amount from $750,000 to $1,500,000 for individual borrowers, and for cooperative corporations or electric cooperatives purchasing bulk fuel on behalf of multiple communities, the loan limit remains at $1,500,000 multiplied by the number of communities served. Additionally, the bill stipulates that loans must be repaid within one year of disbursement and may include further terms as required by the division.

Furthermore, the bill introduces provisions for appropriations to the bulk fuel revolving loan fund for the fiscal years ending June 30, 2026, and June 30, 2027. If the fund's balance is insufficient to provide loans to eligible borrowers, the legislature may appropriate necessary funds. The bill also clarifies that the amended loan limits apply to existing loans or those entered into after the bill's effective date, which is immediate.

Statutes affected:
HB0388A, AM HB 388, introduced 05/01/2026: 42.45.260, 42.45.270
HB0388B, AM CSHB 388(FIN), introduced 05/12/2026: 42.45.260, 42.45.270, 42.45.250, 42.25.270
HB0388Z, AM Enrolled HB 388, introduced 05/20/2026: 42.45.260, 42.45.270, 42.45.250, 42.25.270