00CS FOR HOUSE BILL NO. 137(CRA)                                                                                        
01 "An Act relating to the municipal dividend program; and providing for an                                                
02 effective date."                                                                                                        
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  AS 29.60 is amended by adding new sections to read:                                                  
05 Article 9.  Municipal Dividend Program.                                                                               
06  Sec. 29.60.660.  Municipal dividend fund.  There is established in the                                              
07 department the municipal dividend fund consisting of money transferred to the fund                                      
08 under AS 37.13.145(e).  Subject to appropriations for the purpose, the amount                                           
09 transferred to the fund shall be fully distributed by the department each year as                                       
10 dividends to municipalities.                                                                                            
11  Sec. 29.60.670.  Amount of dividends.  The department shall calculate the                                           
12 amount of a dividend for a municipality based on the population of the municipality.                                    
13 The population of each municipality shall be determined annually by the latest figures                                  
14 of the United States Bureau of the Census or other population data that in the                                          

01 judgment of the department is reliable.  In determining the population of a borough,                                    
02 the population of all cities in the borough shall be deducted from the total population                                 
03 of the borough.                                                                                                         
04    * Sec. 2.  AS 37.13.145 is amended by adding a new subsection to read:                                             
05  (e)  After the transfers under (b) and (c) of this section, the corporation shall                                     
06 transfer the balance of the earnings reserve account to the municipal dividend fund                                     
07 established under AS 29.60.660.                                                                                         
08    * Sec. 3.  This Act takes effect July 1, 2000.