00SENATE BILL NO. 216                                                                                                   
01 "An Act relating to the distribution of income from the permanent fund; and                                             
02 providing for an effective date."                                                                                       
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  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 from the earnings reserve account to the general fund 20 percent of the income                                 
07 available for distribution under AS 37.13.140 or the remaining balance of the earnings                                  
08 reserve account, whichever is less.  Any balance remaining after the transfer under this                                
09 subsection shall be retained in the earnings reserve account and used as necessary to                                   
10 fund transfers under this section in future fiscal years.                                                               
11    * Sec. 2.  This Act takes effect June 30, 2000.