(a) There is established in the Department of Commerce, Community, and Economic Development the alternative energy conservation revolving loan fund to carry out the purposes of AS 45.88.010 – 45.88.090. Loans made under AS 45.88.010 – 45.88.090 are to be used (1) to develop means of energy production utilizing one or more alternative energy systems; […]
(a) There is established, as a special account within the revolving loan fund established under AS 45.88.010, the foreclosure expense account. This account is established as a reserve from fund equity. (b) The commissioner of commerce, community, and economic development may expend money credited to the foreclosure expense account when necessary to protect the state’s […]
(a) The department may (1) make loans for the purchase, construction, and installation, in commercial buildings that are located in the state, of (A) alternative energy systems; and (B) energy conservation improvements; (2) adopt regulations necessary to carry out the provisions of AS 45.88.010 – 45.88.090, including regulations to establish reasonable fees for services provided […]
To be eligible for a loan under AS 45.88.010 – 45.88.090, an applicant must (1) physically reside in the state and maintain a domicile in the state during 12 consecutive months before the date of application for a loan and may not have (A) declared or established residency in another state; or (B) received residency […]
(a) A loan made under AS 45.88.010 – 45.88.090 may not exceed $50,000. If the requested loan amount exceeds $30,000, the applicant must deliver to the department a document from a financial institution stating that (1) the applicant has been denied a loan for the same purpose; or (2) the loan from the financial institution […]
The Department of Commerce, Community, and Economic Development shall dispose of property acquired through default or foreclosure of a loan made under AS 45.88.010 – 45.88.090. Disposal shall be made in a manner that serves the best interests of the state, and may include the amortization of payments over a period of years.
(a) In AS 45.88.010 – 45.88.090, (1) “alternative energy system” (A) means a source of thermal, mechanical or electrical energy that is not dependent on oil or gas or a nuclear fuel for the supply of energy for space heating and cooling, refrigeration and cold storage, electrical power, mechanical power, or the heating of water; […]
