00                             HOUSE BILL NO. 2007                                                                         
01 "An Act making an appropriation to reverse the effect of art. IX, sec. 17(d), Constitution                              
02 of the State of Alaska; making an appropriation to balance revenue and general fund                                     
03 appropriations; making an appropriation to the Department of Revenue for                                                
04 management of the constitutional budget reserve fund; making appropriations under                                       
05 art. IX, sec. 17(c), Constitution of the State of Alaska, from the constitutional budget                                
06 reserve fund; and providing for an effective date."                                                                     
07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
08    * Section 1.  CONSTITUTIONAL BUDGET RESERVE FUND.  (a)  Deposits in the                                            
09 budget reserve fund (art. IX, sec. 17, Constitution of the State of Alaska) for fiscal year 2002                        
10 that were made from subfunds and accounts other than the operating general fund (state                                  
11 accounting system fund number 11100) by operation of art. IX, sec. 17(d), Constitution of the                           
12 State of Alaska, to repay appropriations from the budget reserve fund are appropriated from                             
13 the budget reserve fund to the subfunds and accounts from which they were transferred.                                  
01       (b)  If the unrestricted state revenue available for appropriation in fiscal year 2003 is                         
02 insufficient to cover the general fund appropriations made for fiscal year 2003, the amount                             
03 necessary to balance revenue and general fund appropriations is appropriated to the general                             
04 fund from the budget reserve fund (art. IX, sec. 17, Constitution of the State of Alaska).                              
05       (c)  The sum of $125,000 is appropriated from the budget reserve fund (art. IX,                                   
06 sec. 17, Constitution of the State of Alaska) to the Department of Revenue, treasury division,                          
07 for the fiscal year ending June 30, 2003, for investment management fees for the budget                                 
08 reserve fund (art. IX, sec. 17, Constitution of the State of Alaska).                                                   
09       (d)  The appropriations in (a) - (c) of this section are made under art. IX, sec. 17(c),                          
10 Constitution of the State of Alaska.                                                                                    
11    * Sec. 2.  This Act takes effect July 1, 2002.