AlaskaBulk fuel borrowers may receive loans up to $1.5 million
Borrowers may receive larger bulk fuel loans, and lawmakers may add money when the fund cannot cover an eligible loan.
What it does
A borrower may receive up to $1.5 million from the bulk fuel loan account. A qualifying cooperative may borrow more when it buys fuel for multiple communities.
One borrower may receive up to $1.5 million in bulk fuel bridge loans during a fiscal year. The borrower must repay the loan within one year.
For the fiscal years ending June 30, 2026, and June 30, 2027, lawmakers may add money if the fund cannot cover an eligible loan. The law does not guarantee funding.
Argument forHigher loan limits could help eligible borrowers buy bulk fuel when the fund lacks enough money, if lawmakers provide the needed funds.
Argument againstBorrowers could take on larger debts that must be repaid within a year, putting pressure on them to repay quickly.
More detail
The law allows bulk fuel loan amounts of up to $1.5 million per borrower. This applies to loans from the bulk fuel loan account, including qualifying cooperative purchases for multiple communities. A cooperative buying fuel for more than one community may borrow up to $1.5 million multiplied by the number of communities it serves. These rules apply to loans already in place or made on or after the law takes effect.
The law allows bulk fuel bridge loans of up to $1.5 million per borrower in a fiscal year. This applies to loans from the bulk fuel bridge loan account to one borrower in a fiscal year. The loan must be repaid within one year after the money is disbursed. The division may require additional terms. These rules apply to loans already in place or made on or after the law takes effect.
The legislature may add money to the bulk fuel revolving loan fund when its available balance cannot cover an eligible loan. The possible funding supports eligible borrowers under the bulk fuel loan and bridge loan rules. This applies in the fiscal years ending June 30, 2026, and June 30, 2027. The legislature may add only the amount needed for an eligible loan, and funding is not guaranteed. After the borrower repays the loan, lawmakers may return the added amount, with applicable interest, to its original funding source. The law says this should happen as soon as practical.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jul 3(H) EFFECTIVE DATE(S) OF LAW 7/3/26Latest
- Jul 3(H) LAW W/O GOVERNOR SIGNATURE 6/30 CHAPTER 47 SLA 26Major
- Jun 17(H) 3:10 P.M. 6/15/26 Transmitted to GovernorTo Governor
- May 20(S) VERSION: CSHB 388(FIN)
- Vote recorded (S) PASSED Y20 N- #2842. Result: pass.Upper
- May 20(S) RETURN TO (H), TRANSMIT TO GOVERNOR NEXT
- May 20(S) EFFECTIVE DATE(S) SAME AS PASSAGE
- May 20(S) PASSED Y20 N-Major
- May 20(S) READ THE THIRD TIME CSHB 388(FIN)Minor
- May 20(S) ADVANCED TO THIRD READING UCMinor
- May 20(S) READ THE SECOND TIMEMinor
- May 20(S) RULES TO CALENDAR 5/20/2026
- May 17(S) FN2: INDETERMINATE(H.FIN/FUND TRANSFERS)
- May 17(S) FN1: ZERO(CED)
- May 17(S) NR: KAUFMAN, MERRICK
- May 17(S) DP: OLSON, STEDMAN, HOFFMAN, CRONK, KIEHL
- May 17(S) FIN RPT 5DP 2NR
- May 16(S) Moved CSHB 388(FIN) Out of Committee -- Please Note Time Change --
- May 16(S) FINANCE at 09:00 AM SENATE FINANCE 532
- May 14(S) Minutes (SFIN)
- May 14(S) Heard & Held -- Please Note Time Change --
- May 14(S) FINANCE at 01:30 PM SENATE FINANCE 532
- May 14(S) FIN
- May 14(S) READ THE FIRST TIME - REFERRALSMinor
- May 13(H) VERSION: CSHB 388(FIN)
- Vote recorded (H) PASSED Y39 E1 #2530. Result: pass.Lower
- May 13(H) TRANSMITTED TO (S)Passed Senate
- May 13(H) EFFECTIVE DATE(S) SAME AS PASSAGE
- May 13(H) PASSED Y39 E1Passed House
- May 13(H) READ THE THIRD TIME CSHB 388(FIN)Minor
- May 13(H) ADVANCED TO THIRD READING UCMinor
- May 13(H) FIN CS ADOPTED UC
- May 13(H) READ THE SECOND TIMEMinor
- May 13(H) RULES TO CALENDAR 5/13/2026
- May 12(H) FN2: INDETERMINATE(H.FIN/FUND TRANSFERS)
- May 12(H) FN1: ZERO(CED)
- May 12(H) NR: STAPP, ALLARD, TOMASZEWSKI, MOORE
- May 12(H) DP: JIMMIE, HANNAN, GALVIN, BYNUM, JOSEPHSON, SCHRAGE, FOSTER
- May 12(H) FIN RPT CS(FIN) 7DP 4NR
- May 11(H) Minutes (HFIN)
- May 11(H) Moved CSHB 388(FIN) Out of Committee -- Recessed to a Call of the Chair --
- May 11(H) FINANCE at 01:30 PM ADAMS 519
- May 8(H) Heard & Held
- May 8(H) FINANCE at 01:30 PM ADAMS 519
- May 7(H) Heard & Held
- May 7(H) FINANCE at 01:30 PM ADAMS 519
- May 5(H) Minutes (HFIN)
- May 5(H) Heard & Held
- May 5(H) FINANCE at 01:30 PM ADAMS 519
- May 5(H) Heard & Held -- Please Note Time Change --
- May 5(H) FINANCE at 09:00 AM ADAMS 519
- May 1(H) FIN
- May 1(H) READ THE FIRST TIME - REFERRALSIntroduced
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