Alaska HB199 authorizes the Department of Commerce, Community, and Economic Development to purchase shares in the Alaska Commercial Fishing and.
Alaska HB199 allows the Department of Commerce, Community, and Economic Development to use funds from the former Alaska capstone avionics revolving loan fund to purchase shares in the Alaska Commercial Fishing and Agriculture Bank. This purchase enables the bank to make loans to individuals involved in the state's commercial fishing industry. The bank must provide a list of loans with certain details to the department, which will audit this information. The department can repurchase the shares 20 years after the purchase.
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