Sec. 44.33.915. Broadband parity adjustment fund. [See delayed repeal note]
(a) The broadband parity adjustment fund is created as a separate fund in the treasury for the purpose of (1) offsetting the costs of broadband services for consumers under (b) of this section; and (2) making grants to eligible beneficiaries under (c) of this section to improve the performance of and access to broadband across […]
Sec. 44.33.920. Statewide Broadband Advisory Board. [See delayed repeal note]
(a) The Statewide Broadband Advisory Board is established. (b) The purpose of the advisory board is to provide technology-neutral input, recommendations, and advice regarding (1) state broadband policy, goals, and objectives; (2) project proposal processes and criteria for project selection; (3) mapping and data collection and sharing efforts; and (4) progress made on the recommendations […]
Sec. 44.33.930. Definitions. [See delayed repeal note]
In AS 44.33.910 – 44.33.930, (1) “underserved area” means an area that does not have broadband speeds of at least 100 Megabits per second downstream and at least 20 Megabits per second upstream with a latency sufficient to support real-time interactive applications; (2) “unserved area” means an area that does not have broadband speeds of […]
Sec. 44.33.950. Alaska microloan revolving loan fund.
(a) The Alaska microloan revolving loan fund is created in the Department of Commerce, Community, and Economic Development to carry out the purposes of AS 44.33.950 – 44.33.990. (b) The Alaska microloan revolving loan fund consists of the following: (1) money appropriated to, transferred to, or received by gift, grant, devise, bequest, or donation to […]
Sec. 44.33.955. Powers and duties of the department.
The department may (1) make loans to eligible applicants under AS 44.33.950 – 44.33.990 to be used for working capital, equipment, construction, or other commercial purposes by a business located in the state; (2) receive, take, hold, and administer any appropriation, transfer, gift, grant, bequest, devise, or donation of money for the fund; (3) establish […]
Sec. 44.33.960. Eligibility.
(a) For an applicant to be eligible for a loan under AS 44.33.950 – 44.33.990, the applicant shall (1) be a resident of the state, as determined under (b) of this section; (2) provide a reasonable amount of money from other nonstate sources for use on any project or enterprise for which money from a […]
Sec. 44.33.965. Limitations on loans.
(a) The department may use money from the Alaska microloan revolving loan fund to make loans of up to $35,000 to a person or loans of up to $70,000 to two or more persons. (b) A loan under AS 44.33.950 – 44.33.990 (1) may not exceed a term of 12 years, except for extensions under […]
Sec. 44.33.970. Special account established.
(a) The foreclosure expense account is established as a special account in the Alaska microloan revolving loan fund. (b) The department may expend money credited to the foreclosure expense account when necessary to protect the state’s security interest in collateral on loans granted under AS 44.33.960 or to defray expenses incurred during foreclosure proceedings after […]
Sec. 44.33.975. Default.
If the borrower defaults on a note, the department shall notify the borrower of the default and the consequences of default by mailing a notice to the borrower’s most recent address provided to the department by the borrower or obtained by the department.
Sec. 44.33.980. Disposal of property acquired after default.
The department shall dispose of property acquired through default of a loan made under AS 44.33.950 – 44.33.990. Disposal must be made in a manner that serves the best interest of the state and may include the amortization of payments over a period of years.