1. (a) In evaluating a potential interest rate reduction under AS 42.45.280(b), the division will reduce the interest rate by

   1. (1) one percent for a borrower whom the division considers not to have been delinquent in repayment on at least one previous bulk fuel loan made by the division;
   2. (2) two percent for a borrower whom the division considers not to have been delinquent in repayment on two or more bulk fuel loans made by the division.
2. (b) If an application for an interest rate reduction is denied, the division will provide the applicant with a written statement of the reasons for the denial.

(Eff. 3/8/2013, Register 205)

Authority: AS 42.45.250, AS 42.45.280