Statutes, codes, and regulations
Alaska Administrative Code
Title 3 - Commerce, Community, and Economic DevelopmentPart 13 - Alaska Industrial Development and Export Authority
Chapter 102 - New Markets Tax Credit Assistance Guarantee and Loan Program
Section 3 AAC 102.130 - Loan terms

3 Alaska Admin. Code § 102.130

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Current through August 30, 2024
Section 3 AAC 102.130 - Loan terms
(a) A loan committee shall establish the term of a loan and repayment schedule within the limitations set by this chapter.
(b) A loan under this chapter shall be for a term of not less than eight years and may not exceed a term of 10 years unless extended by a loan modification approved under 3 AAC 102.160. The term of a loan will be based on the useful life of the asset being purchased or to be constructed with the NMTC financing, the size of the loan, and the needs of the applicant.
(c) The authority may request that a sinking fund be funded with amortizing payments on a regular basis.

3 AAC 102.130

Eff. 3/29/2013, Register 207

Even though 3 AAC 102.130 was adopted and effective 3/29/2013, it was not published until Register 207, October 2013.

Authority:AS 44.88.085

AS 44.88.750

AS 44.88.770