{"data":{"id":"us-ak/as-03.20.200","jurisdiction":"us-ak","citation":"AS 03.20.200","heading":"Forgivable loan program for farm development and improvement.","body":"(a) The division of the department with responsibility for agriculture shall establish a forgivable loan program in regulation, under which a recipient's loan may be forgiven by the department if the recipient implements a business plan approved by the department to develop or make improvements to the recipient's farm as described in (d) of this section. A loan may be used by a recipient to fund investments in agriculture to build resiliency in the state's food supply. The forgivable loan program must allow a loan to be forgiven if the recipient implements the approved business plan and demonstrates a subsequent increase in food production and distribution.\n(b) In administering the forgivable loan program established under (a) of this section, the department\n(1) shall develop criteria for awarding a forgivable loan and a process for applying for a forgivable loan that includes requiring\n(A) a forgivable loan applicant to submit a business plan that provides\n(i) how the applicant will meet the criteria required by the department to approve a forgivable loan under this section;\n(ii) a timeline for the applicant to meet the upgrades, construction, or expansion funded by the forgivable loan; and\n(B) the department to\n(i) approve an applicant's business plan before awarding a forgivable loan;\n(ii) visit an applicant's farm, facility, or other site that would receive funding under a forgivable loan made under this section;\n(2) shall require a recipient of a forgivable loan to report to the department on the use of forgivable loan funds;\n(3) may make forgivable loans of up to $150,000 to an applicant for eligible farm development and improvement expenses approved by the department;\n(4) shall, subject to appropriation, make the program available to applicants annually until all available funds have been distributed.\n(c) A business plan approved by the department under (b)(1)(B)(i) of this section may be amended upon approval of the department.\n(d) Expenses eligible for a loan under this section include expenses relating to\n(1) clearing of land for agricultural purposes; and\n(2) the purchase, building, installation, maintenance, or improvement of\n(A) irrigation, drainage, and other water management systems;\n(B) fencing, trellising, barns, greenhouses, or other farm buildings or structures;\n(C) agricultural processing and farm equipment, including milking and pasteurization equipment;\n(D) livestock, feed, seeds, fertilizer, and seasonal extension equipment; and\n(E) bees and beekeeping equipment.\n(e) A forgivable loan recipient must repay to the fund any money not spent from a forgivable loan received under this section. Forgivable loan funds used for expenses that are not eligible under (d) of this section or that are not accounted for in a recipient's business plan approved by the department under (b) of this section must also be repaid to the fund. Any money repaid by a forgivable loan recipient shall be deposited into the general fund.","path":["Title 3. Agriculture, Animals, and Food.","Chapter 20. Agricultural and Industrial Program Support.","Article 3. Forgivable Loan Programs for Farm Development and Improvement and Meat Processing Facilities."],"source_url":"https://www.akleg.gov/basis/statutes.asp#03.20.200","current_through":"Alaska Statutes 2025 (34th Legislature, 2025-2026)","vintage":"","retrieved_at":"2026-09-02T06:15:59Z","sha256":"4c37a399e0fab91e6d45638b1168ccdb092002c5c773038c050d648a2742dea5","source_id":"us-ak","stale":false,"prev":"us-ak/as-03.20.150","next":"us-ak/as-03.20.210"},"notice":"GroundRules: Original legal text. Not legal advice."}