AK HB196

Establishes fund composition of legislative appropriations, gifts/bequests, and principal and interest payments from loans and investments appropriated to the fund

Authorizes the department to make loans for purchase, construction, and installation of alternative energy systems located in Alaska and to adopt regulations establishing reasonable fees for services

Sets interest rates between 5-8% annually, calculated quarterly based on Wall Street Journal bank prime rate plus one percentage point, rounded to nearest half-point

Requires loans be secured by mortgage or other security instrument on real property to be improved and a lien on financed improvements

Adds high efficiency wood pellet stoves to eligible alternative energy systems and excludes stoves using only coal, oil, or unprocessed wood, and fireplaces from eligibility