NOTICE OF ADOPTION OF EMERGENCY REGULATIONS ON WAIVING OR MODIFYING THE REQUIREMENTS OF THE REGULATIONS GOVERNING THE AUTHORITY’S LOAN, GUARANTEE, AND FINANCE PROGRAMS OF THE ALASKA INDUSTRIAL DEVELOPMENT AND EXPORT AUTHORITY

BRIEF DESCRIPTION: The Alaska Industrial Development and Export Authority proposes to make permanent regulation changes made by emergency regulation on Waiving or Modifying the Requirements off the Regulations Governing the Authority’s Loan, Guarantee, and Finance Programs.

On March 27, 2020, the Alaska Industrial Development and Export Authority adopted, as an emergency regulation, changes in 3 AAC 99 of the Alaska Administrative Code dealing with regulations governing the authority’s loan, guarantee and finance programs including the following:

3 AAC 99 is amended to add a new section to read:

3 AAC 99.925. Waiver or modification of regulations in declared disaster emergencies.

(a)  If the governor has declared a statewide disaster emergency under AS 26.23.020, the Authority may waive or modify any requirement established in a regulation under this chapter, or under 3 AAC 101 or 3 AAC 102, for any of the Authority’s loan, guarantee, or finance programs, to the extent that the waiver or modification is consistent with the statutes governing the loan, guarantee, or finance program. The Authority’s power to waive or modify under this section applies with respect to application requirements, application processing, interest rates, costs and fees, loan or financing terms and conditions, collateral requirements, underwriting standards, and other requirements established in regulation.

            (b)  The Authority may approve a waiver or modification under subsection (a) for a specific loan, guarantee, or financing agreement, or the Authority may approve waivers or modifications for loan, guarantee, or finance programs or other designated categories of loans, guarantees, or financing agreements.

            (c)  Once the governor has determined a declared statewide disaster emergency has ended, the Authority shall comply with the requirements of the regulations of this chapter or 3 AAC 101 or 3 AAC 102 for any new or modified loans, guarantees, or financing agreements.  The end of a declared statewide disaster emergency shall not affect waivers or modifications the Authority previously approved for a loan, guarantee, or financing agreement.

The emergency regulation took effect on March 27, 2020, and will expire July 24, 2020. The Alaska Industrial Development and Export Authority intends to make the emergency regulation permanent.

You may comment on the regulation changes, including the potential costs to private persons of complying with the changes, by submitting written comments to Sherrie M Siverson, Alaska Industrial Development and Export Authority, 813 West Northern Lights Boulevard, Anchorage, Alaska 99503. Additionally, the Alaska Industrial Development and Export Authority will accept comments by electronic mail at ssiverson@aidea.org. The comments must be received no later than Friday, May 29, 2020.

Oral or written comments also may be submitted at a hearing to be held on Tue. May 26, 2020 at 813 West Northern Lights Boulevard, Anchorage, Alaska 99503, in the Authority’s Denali Room. The hearing will be held from 9:00 a.m. to 10:00 a.m. and might be extended to accommodate those present before 10:00 a.m. who do not have an opportunity to comment.

You may submit written questions relevant to the proposed action Sherrie M Siverson, Alaska Industrial Development and Export Authority, 813 West Northern Lights Boulevard, Anchorage, Alaska 99503. The questions must be received at least 10 days before the end of the public comment period. The Alaska Industrial Development and Export Authority will aggregate its response to substantially similar questions and make the questions and response available on the Alaska Online Public Notice System and the Alaska Industrial Development and Authority website. The Alaska Industrial Development and Authority may, but is not required to, answer written questions received after the 10-day cut-off date and before the end of the comment period.

If you are a person with a disability who needs a special accommodation in order to participate in this process, please contact Sherrie M Siverson at 907-771-3008 not later than Friday, May 22, 2020 to ensure that any necessary accommodations can be provided.

A copy of the emergency regulation is available on the Alaska Online Public Notice System and on the Alaska Industrial Development and Export Authority website www.aidea.org, or by contacting Sherrie M Siverson, 907-771-3008, ssiverson@aidea.org.

The language of the permanent regulations may be different from that of the original emergency regulation and may include other provisions dealing with the same subject. You should comment during the time allowed if your interests could be affected.  Written comments received are public records and are subject to public inspection.

The Alaska Industrial Development and Export Authority keeps a list of individuals and organizations interested in its regulations. Those on the list will automatically be sent a copy of all AIDEA notices of proposed regulation changes. To be added to or removed from the list, go to http://list.state.ak.us/mailman/listinfo/aidea-regulations-notices enter your email address and click subscribe.

Statutory authority:  AS 44.88.070;      AS 44.88.080;     AS 44.88.085

Fiscal information:  The regulations are not expected to require an increased appropriation

Date:   April 6, 2020                            Tomas H. Boutin, Executive Director