SCS CSSSHB 96(FIN): "An Act relating to deposits to the Alaska permanent fund from mineral lease rentals, royalties, royalty sale proceeds, net profit shares under AS 38.05.180(f) and (g), federal mineral revenue sharing payments received by the state from mineral leases, and bonuses received by the state from mineral leases, and limiting deposits from those sources to the 25 percent required under art. IX, sec. 15, Constitution of the State of Alaska; and providing for an effective date."
00SENATE CS FOR CS FOR SS FOR HOUSE BILL NO. 96(FIN) 01 "An Act relating to deposits to the Alaska permanent fund from mineral lease 02 rentals, royalties, royalty sale proceeds, net profit shares under AS 38.05.180(f) 03 and (g), federal mineral revenue sharing payments received by the state from 04 mineral leases, and bonuses received by the state from mineral leases, and 05 limiting deposits from those sources to the 25 percent required under art. IX, 06 sec. 15, Constitution of the State of Alaska; and providing for an effective date." 07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 08 * Section 1. AS 37.05.530(g) is amended to read: 09 (g) Amounts received by the state under 42 U.S.C. 6508 and not appropriated 10 for grants to municipalities under (d) of this section lapse at the end of each fiscal year 11 as follows: 12 (1) 25 [50] percent to the principal of the Alaska permanent fund; 13 (2) .5 percent to the public school trust fund (AS 37.14.110); and 14 (3) the remainder to the general fund for use by the state for the
01 following facilities and services: 02 (A) planning; 03 (B) construction, maintenance, and operation of essential public 04 facilities; and 05 (C) other necessary public services. 06 * Sec. 2. AS 37.05.550(b) is amended to read: 07 (b) The legislature may appropriate to the fund money received by the state 08 as Alaska marine highway system program receipts or from a settlement or final 09 judicial determination of the Dinkum Sands case (United States v. Alaska) and the 10 North Slope royalty case (State v. Amerada Hess, et al.) and not deposited into the 11 Alaska permanent fund under AS 37.13.010(a)(1) [AS 37.13.010(a)(1) OR (2)] or into 12 the public school trust fund under AS 37.14.150. 13 * Sec. 3. AS 37.13.010(a) is amended to read: 14 (a) Under art. IX, sec. 15 , of the state constitution, there is established as a 15 separate fund the Alaska permanent fund. The Alaska permanent fund consists of 16 (1) 25 percent of all mineral lease rentals, royalties, royalty sale 17 proceeds, net profit shares under AS 38.05.180(f) and (g), 25 percent of [AND] 18 federal mineral revenue sharing payments received by the state from mineral leases 19 [ISSUED ON OR BEFORE DECEMBER 1, 1979], and 25 percent of all bonuses 20 received by the state from mineral leases [ISSUED ON OR BEFORE FEBRUARY 15, 21 1980]; and 22 (2) [50 PERCENT OF ALL MINERAL LEASE RENTALS, 23 ROYALTIES, ROYALTY SALE PROCEEDS, NET PROFIT SHARES UNDER 24 AS 38.05.180(f) AND (g), AND FEDERAL MINERAL REVENUE SHARING 25 PAYMENTS RECEIVED BY THE STATE FROM MINERAL LEASES ISSUED 26 AFTER DECEMBER 1, 1979, AND 50 PERCENT OF ALL BONUSES RECEIVED 27 BY THE STATE FROM MINERAL LEASES ISSUED AFTER FEBRUARY 15, 28 1980; 29 (3)] any other money appropriated to or otherwise allocated by law or 30 former law to the Alaska permanent fund. 31 * Sec. 4. This Act takes effect immediately under AS 01.10.070(c).