Section 03.10.020 - [Effective 7/1/2025] Powers of the board(a) The Board of Agriculture and Conservation (AS 03.09.010) may (1) make a loan to (A) an individual resident farmer, homesteader, or a partnership or corporation composed of farmers and homesteaders for(i) clearing land for agricultural purposes;(ii) development of farms;(iii) storage and processing of farm produce; (iv) the purchase of livestock or machinery;(v) in-state manufacturing of food or production of animal feed; or(vi) the cost of shipping to and within the state for the purposes listed in (i) - (v) of this subparagraph;(B) an individual state resident, or a partnership or corporation for (i) storage and processing plants for agricultural products;(ii) the commercial production or processing of horticultural products in the state;(iii) the commercial production or processing of animal feed in the state; (iv) the raising or care of animals in the state for the purpose of marketing their fur;(v) in-state manufacturing of food or production of animal feed; or(vi) the cost of shipping to and within the state for the purposes listed in (i) - (v) of this subparagraph;(2) designate agents and delegate its powers to them as necessary;(3) adopt regulations necessary to carry out its functions, including regulations to establish reasonable fees for services provided and charges for collecting the fees;(4) establish amortization plans for repayment of loans, which may include delayed payments of principal and interest for not to exceed five years;(5) enter into agreements with private lending institutions, other state agencies or agencies of the federal government, to carry out the purposes of this chapter;(6) collect the fees and collection charges established under this subsection;(7) refinance a debt obligation incurred by a borrower under this section or through another lender for a purpose authorized under (1) of this subsection if the borrower otherwise qualifies for a loan under this chapter.(b) In this section, "horticultural products" means vegetables, fruit plants, grass seed, sod, tree seedlings, ornamental plants, foliage, or flowering plants, grown in a greenhouse or nursery.Amended by SLA 2024, ch. 34,sec. 2, eff. 7/1/2025.This section is set out more than once due to postponed, multiple, or conflicting amendments.