AK SB264

Repeals the home ownership assistance fund (AS 18.56.430), the operating loss reserve account (AS 18.56.450), and the restricted title loss reserve account (AS 18.56.490)

Removes the restriction that limited small community housing mortgage loans secured by certain real property to 10 times the amount in the restricted title loss reserve account

Retains existing limitations on the housing assistance loan program, including the $45,000 cap on building materials loans and 15-year maximum repayment period

Effective date: July 1, 2026