AK HB141

Creates a separate community quota entity revolving loan fund for loans to community quota entities to purchase fishing quota shares, effective after June 30, 2011.

Allows community quota entities to borrow up to 95 percent of collateral value (compared to 80 percent for other commercial fishing loans) for quota share purchases totaling up to 50,000 pounds cumulatively.

Permits loans to community quota entities with terms up to 25 years and a maximum of $1,000,000 per entity, with optional interest payment deferral for up to 10 years.

Establishes that loan payments from community quota entity loans are paid into the separate community quota entity revolving loan fund, while other commercial fishing loan payments go into the commercial fishing revolving loan fund.

Takes effect July 1, 2011.