(a) The Alaska microloan revolving loan fund is created in the Department of Commerce, Community, and Economic Development to carry out the purposes of AS 44.33.950 - 44.33.990.
(b) The Alaska microloan revolving loan fund consists of the following:
(1) money appropriated to, transferred to, or received by gift, grant, devise, bequest, or donation to the fund;
(2) principal and interest payments or other income earned on loans or investments of the fund;
(3) money chargeable to principal or interest that is collected through liquidation by foreclosure or other process on loans made under AS 44.33.950 - 44.33.990.
(c) Money in the fund may be used by the legislature to make appropriations for costs of administering AS 44.33.950 - 44.33.990.
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