Alaska 34th Alaska State Legislature Status: To Executive

SB 156 — An Act relating to the Department of Commerce, Community, and Economic Development; relating to the Alaska Commercial Fishing and Agriculture Bank; relating to certain loans made by the Alaska Commercial Fishing and Agriculture Bank; relating to certain commercial fishing loans; and providing for an effective date.

Last action — (S) VETOED BY GOVERNOR 7/16/25

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. 5
    To Executive
  6. 6
    Enacted

This bill has been sent to the executive. Introduced April 02, 2025. It awaits signature.

Vetoed by Governor Mike Dunleavy (Republican) on July 30, 2025.

Next likely step: the executive signs it into law or issues a veto.

Odds of enactment

Low chance

Based on the sponsor, cosponsors, and committee posture, this bill has a low chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 62% · moderate confidence

  • To Executive

    Current position in the legislative process.

  • 1 sponsor

    1 primary, 0 co-sponsors signed on.

  • Cleared a recorded vote

    Passed 3 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

Bill Text

What changed in the latest version

73 added · 61 removed

Plain-language change summary

The recent changes to Bill SB 156 clarify the terms under which the Alaska Commercial Fishing and Agriculture Bank can issue loans. Specifically, the amended text now requires that loans be secured by limited entry permits as collateral, which could help safeguard the bank's investments and ensure that borrowers have a tangible stake in their loans. This is important for maintaining financial stability in the commercial fishing sector, as it encourages responsible borrowing and lending practices.

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34-LS0857\A SENATE BILL NO.
LAWS OF ALASKA Source Chapter No.
156 IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-FOURTH LEGISLATURE - FIRST SESSION BY THE SENATE RULES COMMITTEE BY REQUEST OF THE JOINT LEGISLATIVE TASK FORCE EVALUATING ALASKA'S SEAFOOD INDUSTRY Introduced:
HCS CSSB 156(FSH) _______ AN ACT Relating to the Department of Commerce, Community, and Economic Development;
4/2/25 Referred:
Labor and Commerce, Finance A BILL FOR AN ACT ENTITLED "An Act relating to the Department of Commerce, Community, and Economic Development;
and providing for an effective date." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
relating to certain commercial fishing loans;
* Section 1.
and providing for an effective date.
_______________ BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
THE ACT FOLLOWS ON PAGE 1 Enrolled SB 156 AN ACT Relating to the Department of Commerce, Community, and Economic Development;
relating to the Alaska Commercial Fishing and Agriculture Bank;
relating to certain loans made by the Alaska Commercial Fishing and Agriculture Bank;
relating to certain commercial fishing loans;
and providing for an effective date.
_______________ * Section 1.
If the bank SB0156A -1- SB 156 New Text Underlined [DELETED TEXT BRACKETED] 34-LS0857\A fails to repurchase the shares 20 years after the purchase by the department, the commissioner of commerce, community, and economic development may appoint a receiver to direct, manage, and operate the bank until the shares have been repurchased.
If the bank -1- Enrolled SB 156 fails to repurchase the shares 20 years after the purchase by the department, the commissioner of commerce, community, and economic development may appoint a receiver to direct, manage, and operate the bank until the shares have been repurchased.
(b) A loan made by the Alaska Commercial Fishing and Agriculture Bank using funds provided by the Department of Commerce, Community, and Economic Development's purchase of shares under this section (1) shall have a fixed term of 15 years;
(b) The Alaska Commercial Fishing and Agriculture Bank may not originate or refinance a loan under this section unless the loan is secured, or secured in part, by a limited entry permit issued under AS 16.43 that has been pledged by the holder as collateral.
(2) may not bear interest (A) exceeding the prime rate, as defined in AS 44.88.599, plus two percentage points;
A loan made by the bank using funds provided by the Department of Commerce, Community, and Economic Development's purchase of shares under this section (1) shall have a fixed term of 15 years;
(2) shall have a fixed interest rate;
(3) may not bear interest (A) exceeding the prime rate, as defined in AS 44.88.599, plus two percentage points;
25, SLA 2024, the Alaska Commercial Fishing and Agriculture Bank shall provide the division within the Department of Commerce, Community, and Economic Development that is responsible for banking and securities, a list of each loan originated or refinanced under (b) of this section, with confidential borrower information redacted.
25, SLA 2024, the Alaska Commercial Fishing and Agriculture Bank shall provide the division within the Department of Commerce, Community, and Economic Development that is responsible for banking and securities a list of each loan originated or refinanced under (b) of this section, with confidential borrower information redacted.
The list must include, for each loan, a comparison of (1) the loan's baseline interest earnings, which is calculated as the loan's refinanced or originated principal multiplied by the interest rate and term for the loan before it was refinanced, or the interest rate and term that the loan would have had if the loan had not been made by the Alaska Commercial Fishing and Agriculture Bank under (b) of this section, projected over the term of the loan;
The list must include, for each loan, (1) the loan number, principal balance, interest rate, and loan term;
and (2) the loan's actual interest earnings, which is calculated as the loan's refinanced or originated principal times the loan's actual interest rate as originated or refinanced under (b) of this section, projected over the term of the loan.
(2) a copy of the loan agreement;
(d) Within 120 days after the Alaska Commercial Fishing and Agriculture Bank provides the Department of Commerce, Community, and Economic Development the list required under (c) of this section, the department shall audit and review the listed information.
(3) an amortization schedule, including the comparison made under (4) of this subsection;
If the department determines that the difference in projectnterest earnings for all loans SB 156 -2- SB0156A New Text Underlined [DELETED TEXT BRACKETED] 34-LS0857\A originated or refinanced under (b) of this section for the Alaska Commercial Fishing and Agriculture Bank, as calculated under (c) of this section, is less than the par value of the shares purchased by the department under (a) of this section, the department shall request that the bank repay the difference to the department.
(4) a comparison of (A) the loan's baseline interest earnings, calculated as the projection of the refinanced or originated loan's interest using the principal and the interest rate in effect for the loan before it was refinanced, or the interest rate and term that the loan would have had if the loan had not been made by the Alaska Commercial Fishing and Enrolled SB 156 -2- Agriculture Bank under (b) of this section, amortized over a 15-year term assuming timely loan payments;
(e) If the Department of Commerce, Community, and Economic Development requests that the Alaska Commercial Fishing and Agriculture Bank repay a sum of money under (d) of this section, the bank shall make the payment within 30 days.
and (B) the loan's post-refinance or post-origination interest earnings, calculated as the loan's projected interest earnings using the loan's principal, the loan's actual interest rate as originated or refinanced under (b) of this section, and a 15-year term assuming timely loan repayments;
(f) Subject to appropriation, the department shall purchase shares issued by the Alaska Commercial Fishing and Agriculture Bank under (a) of this section using an amount equal to the amount that was in the former Alaska capstone avionics revolving loan fund (former AS 44.33.650 - 44.33.690) and was unobligated on July 1, 2020.
and (5) any other information that the division may need to complete the review.
(d) Within 120 days after the Alaska Commercial Fishing and Agriculture Bank provides the Department of Commerce, Community, and Economic Development the list required under (c) of this section, the department shall conduct a one-time review of the listed information.
If the department determines that the difference in projected interest earnings for all loans originated or refinanced under (b) of this section for the Alaska Commercial Fishing and Agriculture Bank, as calculated under (c) of this section, is less than the par value of the shares purchased by the department under (a) of this section, the department shall request that the bank repay the difference to the department by buying back the requisite quantity of shares.
(e) If the Department of Commerce, Community, and Economic Development requests that the Alaska Commercial Fishing and Agriculture Bank buy back the shares under (d) of this section, the bank shall buy back the shares within 30 days.
(f) Subject to appropriation, the Department of Commerce, Community, and Economic Development shall purchase shares issued by the Alaska Commercial Fishing and Agriculture Bank under (a) of this section using an amount equal to the amount that was in the former Alaska capstone avionics revolving loan fund (former AS 44.33.650 - 44.33.690) and was unobligated on July 1, 2020.
Section 1 of this Act is repealed July 1, 2027.
Section 1 of this Act is repealed January 1, 2027.
SB0156A -3- SB 156 New Text Underlined [DELETED TEXT BRACKETED]
-3- Enrolled SB 156
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Action History

  1. (S) VETOED BY GOVERNOR 7/16/25

  2. (S) MANIFEST ERROR(S)

  3. (S) 8:45 A.M. 6/26/25 Transmitted to Governor

  4. (S) EFFECTIVE DATE(S) SAME AS PASSAGE

  5. (S) CONCUR AM OF (H) Y19 N1

  6. (S) CONCUR MESSAGE READ AND TAKEN UP

  7. (H) VERSION: HCS CSSB 156(FSH)

  8. (H) TRANSMITTED TO (S) AS AMENDED

  9. (H) EFFECTIVE DATE(S) SAME AS PASSAGE

  10. (H) PASSED Y40

  11. (H) READ THE THIRD TIME HCS CSSB 156(FSH)

  12. (H) ADVANCED TO THIRD READING 5/20 CALENDAR

  13. (H) FSH HCS ADOPTED UC

  14. (H) READ THE SECOND TIME

  15. (H) RULES TO CALENDAR 5/19/2025

  16. (H) FN2: (S.FIN/CED)

  17. (H) FN1: ZERO(CED)

  18. (H) NR: MCCABE

  19. (H) DP: KOPP, EDGMON, HIMSCHOOT, ELAM, STUTES

  20. (H) TECHNICAL TITLE CHANGE

  21. (H) FSH RPT HCS(FSH) NEW TITLE 5DP 1NR

  22. (H) Minutes (HFSH)

  23. (H) Moved HCS CSSB 156(FSH) Out of Committee -- Delayed to 2:00 pm --

  24. (H) FISHERIES at 01:00 PM GRUENBERG 120

  25. (H) FSH

  26. (H) READ THE FIRST TIME - REFERRALS

  27. (S) VERSION: CSSB 156(FIN)

  28. (S) TRANSMITTED TO (H)

  29. (S) EFFECTIVE DATE(S) SAME AS PASSAGE

  30. (S) PASSED Y19 N- E1

  31. (S) READ THE THIRD TIME CSSB 156(FIN)

  32. (S) ADVANCED TO THIRD READING 5/17 CAL

  33. (S) FIN CS ADOPTED UC

  34. (S) READ THE SECOND TIME

  35. (S) RULES TO CALENDAR 5/16/2025

  36. (S) FN2: (S.FIN/CED)

  37. (S) FN1: ZERO(CED)

  38. (S) NR: OLSON, KAUFMAN, CRONK, MERRICK

  39. (S) DP: STEDMAN, HOFFMAN, KIEHL

  40. (S) FIN RPT CS 3DP 4NR NEW TITLE

  41. (S) Minutes (SFIN)

  42. (S) Moved CSSB 156(FIN) Out of Committee -- Please Note Time Change --

  43. (S) FINANCE at 01:30 PM SENATE FINANCE 532

  44. (H) Minutes (HFIN)

  45. (H) <Pending Referral> -- Please Note Time Change --

  46. (H) FINANCE at 10:00 AM ADAMS 519

  47. (S) Minutes (SFIN)

  48. (S) Heard & Held

  49. (S) FINANCE at 09:00 AM SENATE FINANCE 532

  50. (H) Minutes (HFIN)

  51. (H) <Pending Referral> -- Recessed to a Call of the Chair --

  52. (H) FINANCE at 09:00 AM ADAMS 519

  53. (S) Minutes (SFIN)

  54. (S) Heard & Held

  55. (S) FINANCE at 09:00 AM SENATE FINANCE 532

  56. (H) Minutes (HFSH)

  57. (H) FISHERIES at 10:00 AM GRUENBERG 120

  58. (S) FIN WAIVED PUBLIC HEARING NOTICE,RULE 23

  59. (S) FN1: ZERO(CED)

  60. (S) DP: BJORKMAN, DUNBAR, GRAY-JACKSON

  61. (S) L&C RPT CS 3DP SAME TITLE

  62. (S) Minutes (SL&C)

  63. (S) Moved CSSB 156(L&C) Out of Committee

  64. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)

  65. (S) Minutes (SL&C)

  66. (S) Heard & Held

  67. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)

  68. (S) L&C, FIN

  69. (S) READ THE FIRST TIME - REFERRALS

Sponsors

  • Senate Rules · Primary

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 64 not signed on · 1 voted No

Sponsors (1)

  • Senate Rules

Co-sponsors (0)

None.

Not signed on (64)

64 members have not signed on to this bill.

Show all 64 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Shall the Senate Concur in the House Amendment(s) — to CSSB 156(FIN)? Effective Date(s)

Passed 19 Yea · 1 Nay
Party YeaNayPresentNot Voting
R 8100
D 9000
Unaffiliated 2000
Total 19100
% of votes cast 95%5%0%0%
How each member voted (20)
Member Party Vote
Shelley Hughes — Yea
Mike Shower — Yea
Bill Wielechowski D Yea
Donald Olson D Yea
Elvi Gray-Jackson D Yea
Forrest Dunbar D Yea
Jesse Kiehl D Yea
Lyman Hoffman D Yea
Löki Tobin D Yea
Matt Claman D Yea
Scott Kawasaki D Yea
Bert Stedman R Nay
Cathy Giessel R Yea
Gary Stevens R Yea
James Kaufman R Yea
Jesse Bjorkman R Yea
Kelly Merrick R Yea
Mike Cronk R Yea
Robert Myers R Yea
Robert Yundt R Yea

Official roll call →

Third Reading — Final Passage

Passed 40 Yea · 0 Nay
Party YeaNayPresentNot Voting
R 21000
Unaffiliated 1000
D 13000
N 5000
Total 40000
% of votes cast 100%0%0%0%
How each member voted (40)
Member Party Vote
Robyn Niayuq Burke — Yea
Andi Story D Yea
Andrew Gray D Yea
Andy Josephson D Yea
Ashley Carrick D Yea
Carolyn Hall D Yea
Donna Mears D Yea
Genevieve Mina D Yea
Maxine Dibert D Yea
Neal Foster D Yea
Nellie Unangiq Jimmie D Yea
Sara Hannan D Yea
Ted Eischeid D Yea
Zack Fields D Yea
Alyse Galvin N Yea
Bryce Edgmon N Yea
Calvin Schrage N Yea
Ky Holland N Yea
Rebecca Himschoot N Yea
Bill Elam R Yea
Cathy Tilton R Yea
Chuck Kopp R Yea
Dan Saddler R Yea
David Nelson R Yea
DeLena Johnson R Yea
Elexie Moore R Yea
Frank Tomaszewski R Yea
George Rauscher R Yea
Jamie Allard R Yea
Jeremy Bynum R Yea
Jubilee Underwood R Yea
Julie Coulombe R Yea
Justin Ruffridge R Yea
Kevin McCabe R Yea
Louise Stutes R Yea
Mia Costello R Yea
Mike Prax R Yea
Rebecca Schwanke R Yea
Sarah Vance R Yea
Will Stapp R Yea

Official roll call →

Third Reading - Final Passage — Effective Date(s)

Passed 19 Yea · 0 Nay · 1 Other
Party YeaNayPresentNot Voting
R 8001
D 9000
Unaffiliated 2000
Total 19001
% of votes cast 95%0%0%5%
How each member voted (20)
Member Party Vote
Shelley Hughes — Yea
Mike Shower — Yea
Bill Wielechowski D Yea
Donald Olson D Yea
Elvi Gray-Jackson D Yea
Forrest Dunbar D Yea
Jesse Kiehl D Yea
Lyman Hoffman D Yea
Löki Tobin D Yea
Matt Claman D Yea
Scott Kawasaki D Yea
Bert Stedman R Yea
Cathy Giessel R Yea
Gary Stevens R Yea
James Kaufman R Yea
Jesse Bjorkman R Yea
Kelly Merrick R Yea
Mike Cronk R Yea
Robert Myers R Yea
Robert Yundt R Not Voting

Official roll call →

Subjects

finance agriculture
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Frequently asked questions

Who sponsors SB 156?
SB 156 is sponsored by Senate Rules.
What is the current status of SB 156?
This bill has been sent to the executive. Introduced April 02, 2025. It awaits signature.
Where can I track SB 156?
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