Loading chat...

AK SB211

Bill

Status

Introduced

1/26/2024

Primary Sponsor

Rules

Click for details

Origin

Senate

33rd Legislature

AI Summary

  • Reduces Board of Agriculture and Conservation quorum requirement from five members to four members for conducting business.

  • Increases loan limits under the Alaska Agricultural Loan Act: farm development/chattel/irrigation loans from $1,000,000 to $3,000,000 (adjusted annually for inflation); short-term operating loans from $200,000 to $500,000; farm product processing loans from $250,000 to $500,000; and land clearing loans set by board regulation instead of $250,000 cap.

  • Expands eligible uses for agricultural loans to include shipping costs to and within Alaska and in-state food manufacturing or animal feed production.

  • Restructures federal crop insurance contribution program to provide state payments for 85% revenue protection in first two years, declining to 70% in subsequent years (if minimum 55% coverage purchased), with funds allocated on first-come basis if appropriations are insufficient.

  • Requires Department of Administration to report to legislature by the 30th legislative day of 2026 on state and municipal procurement preferences for Alaska agricultural and fisheries products, including annual data on purchases and recommendations for program improvements.

Legislative Description

Agricultural Products/loans/sales

Procurements

Last Action

REFERRED TO FINANCE

4/30/2024

Committee Referrals

Finance4/30/2024
Labor & Commerce1/26/2024

Full Bill Text

No bill text available