Alaska Statutes Title 44, Chapter 44.88, Article 09 - New Markets Tax Credit Assistance Guarantee and Loan Program

• Sec. 44.88.700 New Markets Tax Credit Assistance Guarantees and Loans.
  (a) Subject to the requirements of AS 44.88.700 - 44.88.799, the authority may(1) guarantee new markets tax credit assistance leveraged loans; and(2) make new...
• Sec. 44.88.710 Effect of Guarantee.
  (a) A guarantee under AS 44.88.700 - 44.88.799 does not create a debt or liability of the state.(b) A guarantee under AS 44.88.700 (a)(1)...
• Sec. 44.88.715 Qualifications of Applicant for New Loan Guarantee.
  (a) A business enterprise that qualifies for new markets tax credits for a project may apply for a loan guarantee under AS 44.88.700(a)(1).(b) The...
• Sec. 44.88.720 Application for Loan Guarantee.
  An applicant for a loan guarantee shall provide information that the authority may require by regulation. The authority may require submission of an economic...
• Sec. 44.88.730 Conditions of Loan Guarantee.
  (a) The authority may guarantee a loan under AS 44.88.700 - 44.88.799 if the(1) loan(A) is commercially reasonable;(B) contains payment provisions satisfactory to the...
• Sec. 44.88.740 Servicing of Guaranteed Loans.
  (a) The financial institution that holds a loan guaranteed by the authority under AS 44.88.700 - 44.88.799 shall(1) service the loan;(2) exercise diligence in...
• Sec. 44.88.750 New Markets Tax Credit Assistance Leveraged Loan.
  (a) The authority may make a new markets tax credit assistance leveraged loan under AS 44.88.700 (a)(2) only if the authority determines that an...
• Sec. 44.88.760 Limitations of Guarantees and Leveraged Loans.
  The combined outstanding principal balance of loan guarantees and loans under AS 44.88.700 - 44.88.799 may not exceed $40,000,000.
• Sec. 44.88.770 Powers of the Authority.
  The authority may(1) adopt regulations to implement AS 44.88.700 - 44.88.799;(2) establish terms and conditions for loan guarantees and loans, subject to the requirements...
• Sec. 44.88.799 Definitions.
  In AS 44.88.700 - 44.88.799,(1) "federal new markets tax credit program" means the program administered by the Community Development Financial Institutions Fund that arises...

Last modified: November 15, 2016