Establishes terms for loans made by the Alaska Commercial Fishing and Agriculture Bank and outlines share repurchase and audit requirements.

The bill sets fixed terms for loans made by the Alaska Commercial Fishing and Agriculture Bank, limiting interest rates to the prime rate plus two percentage points or 5.25 percent. It mandates the Department of Commerce, Community, and Economic Development to purchase shares in the bank using funds from the former Alaska capstone avionics revolving loan fund. The bank must repurchase these shares 20 years after purchase unless it fails to do so, in which case the commissioner can appoint a receiver.

Establishes terms for loans made by the Alaska Commercial Fishing and Agriculture Bank and outlines share repurchase and audit requirements.

The bill sets fixed terms for loans made by the Alaska Commercial Fishing and Agriculture Bank, limiting interest rates to the prime rate plus two percentage points or 5.25 percent. It mandates the Department of Commerce, Community, and Economic Development to purchase shares in the bank using funds from the former Alaska capstone avionics revolving loan fund. The bank must repurchase these shares 20 years after purchase unless it fails to do so, in which case the commissioner can appoint a receiver.