Governor Walker Takes Steps to Help Alaskans Finance Their Futures
HB 304 creates more options for entrepreneurial investment
ANCHORAGE—Governor Bill Walker signed HB 304 at the University of Alaska Anchorage’s College of Business and Public Policy. The Governor introduced the bill earlier this year: it makes important fixes to Alaska’s microloan revolving fund to help create a better climate of investment for Alaska’s entrepreneurs.
The current loan program conditions have created a bottleneck in capital access for Alaska’s microbusinesses. HB 304 adjusts interest and the prime rates, and provides longer–term capital by extending loans from a possible six to twelve years, expanding the menu of options available to Alaskans who want to invest in small businesses.
“I introduced this bill because one of my most foremost goals as governor is to foster opportunity for Alaskans, so every generation can build meaningful and productive lives,” Governor Walker said. “This bill provides the financial framework to encourage entrepreneurs to take the risks that help create Alaskan jobs through small business enterprises.”
Governor Walker also signed HB 233 at the University of Alaska Anchorage’s Engineering and Industry building, extending the Education Tax Credit program. By extending the program’s 2019 sunset to 2025, the bill continues to incentivize businesses to invest in schools, vocational and technical education, preschools, and other cultural programs that support Alaskans. Every year Alaskans donate almost 10 million dollars to schools and other eligible programs.
Additionally, Governor Walker signed HB 217 at Mountain View’s Fresh International Garden, which allows Department of Natural Resources to encourage schools, municipalities, and other government institutions to purchase Alaska grown products. Choosing local food helps Alaska to be self-sufficient and insulates Alaskans from food insecurity.