Legislature OKs Bill to Streamline Bulk Fuel Loan Process
HB 196 moves the loan fund to the Division of Community & Regional Affairs
Sunday, April 15, 2012 Juneau, Alaska – The Alaska Legislature today unanimously passed a bill making it easier for communities to apply for and receive necessary funding for bulk fuel.
House Bill 196 assures that the bulk fuel revolving loan fund (BFRLF) and the bulk fuel bridge loan account accessed by communities around the state will now be housed in the same agency. Currently the BFRLF is under the Alaska Energy Authority and the bulk fuel bridge loan program is under the Division of Community & Regional Affairs.
Edgmon said that moving both loan programs to the Division of Community & Regional Affairs will greatly improve the loan process for the communities and the state. It will also help with the scheduling of delivering fuel to those communities.
“It makes perfect sense to house both loan programs under one department,” Edgmon, D-Dillingham, said. “It assures that those communities struggling with the cost and management of their bulk fuel purchases receive the appropriate technical assistance they need to get their managing practices and financial paperwork in order.”
Communities around the state, the Department of Commerce & Economic Development, as well as fuel distributors support the bill. Governor Parnell also recommended this change in his 2011 Energy Report to the legislature.
HB196 will now be transmitted to the governor for his signature. The bill would take effect on January 1, 2013.