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Governor Parnell Submits Veterans Loan Legislation

January 12, 2010, Juneau, Alaska – Governor Sean Parnell today transmitted legislation to renew the Veterans Mortgage Loan program. If passed by the Legislature, voters in the 2010 general election would be asked to approve $800 million of state-guaranteed bonds. The bonds would be issued by the Alaska Housing Finance Corporation for the purchase of mortgage loans made to qualifying military veterans.

Alaska is home to 75,000 veterans. The loan program is designed to provide the lowest possible interest rates without imposing income criteria for eligibility.

When veterans bonds were last placed on the general election ballot, in 2002, voters approved them by more than 70 percent.

A copy of the bill and transmittal letter is available at: http://www.gov.state.ak.us/pdf/VeteransLoanLetter_Jan8-2010.pdf

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