AK House Majority
The 27th Alaska State Legislature, 2011 - 2012  Print Friendly Version 
Sponsor Statement: House Bill 196

Bulk Fuel Loans/Power Project Fund

Ak Legislative MajorityAk Legislative Majority
Rep. Bryce Edgmon D-36
Ak Legislative Majority

Rep. Bryce Edgmon (D-36)
Ak Majority Organization

Ak Majority Organization

An Act relating to the power project fund and to the bulk fuel revolving loan fund; establishing a bulk fuel loan account and making the bulk fuel loan account and the bulk fuel bridge loan account separate accounts in the bulk fuel revolving loan fund; providing for technical assistance to rural borrowers under the bulk fuel bridge loan program; relating to the administration and investment of the bulk fuel revolving loan fund by the division in the Department of Commerce, Community, and Economic Development responsible for community and regional affairs; and providing for an effective date.


Posted: March 21, 2011 : v27-LS529-B
Bill Version: CSHB 196(FIN)
Status: Chapter 46 SLA 12 : 2012-05-28


This proposed legislation will move the Bulk Fuel Revolving Loan Fund (BFRLF) from the Alaska Energy Authority (AEA) to the Division of Community & Regional Affairs (DCRA), which will mean both the BFRLF and the bulk fuel bridge loan program will be housed in the same division.

Housing these two funds under one roof is something the House Energy committee considered last session, and also an idea the governor endorsed in his report to the Legislature regarding State energy programs.

Currently, if an applicant is rejected for a loan from the BFRLF, their next step is to apply for a bulk fuel loan through the bridge loan program. It makes perfect sense to have these related loan programs under the jurisdiction of one entity, and DCRA is the logical place for them to be housed.

HB 196 will place both the bulk fuel loan account and the bulk fuel bridge loan account as separate accounts in the BFRLF, contains provisions for technical assistance for those borrowers needing help, and will streamline the whole process of obtaining bulk fuel loans for communities.

I would appreciate your support for this bill.




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