- Alaska Statutes.
- Title 37. Public Finance
- Chapter 17. Alaska Bidco Assistance Program
- Section 580. Bidco Capitalization Loan Credits.
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. Bidco Capitalization Loan Repayment and Interest.
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. Implementation of Bidco Capitalization Loan Program.
AS 37.17.580. Bidco Capitalization Loan Credits.
- (a) A BIDCO capitalization loan must include a formula that allows the BIDCO to earn credits to reduce the interest and
principal owed on the loan. The formula shall be based on increasing jobs and sales in some or all of the businesses
financed by the BIDCO and on sustaining the increases. To the extent the department determines appropriate, the
department may also provide credits in situations where the BIDCO clearly demonstrates to the department that jobs
would have been lost if the BIDCO had not provided financing assistance.
- (b) The department shall establish procedures and guidelines for the certification by the department of credits earned by
a BIDCO under this section, including the circumstances under which the department may deny the credits. Within the
guidelines, the specific decisions regarding the granting or denial of the credits are left to the discretion of the
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