00 HOUSE BILL NO. 11
01 "An Act relating to deposits to the Alaska permanent fund from mineral lease rentals,
02 royalties, royalty sale proceeds, net profit shares under AS 38.05.180(f) and (g), federal
03 mineral revenue sharing payments received by the state from mineral leases, and
04 bonuses received by the state from mineral leases, and limiting deposits from those
05 sources to the 25 percent required under art. IX, sec. 15, Constitution of the State of
06 Alaska; and providing for an effective date."
07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
08 * Section 1. AS 37.05.550(b) is amended to read:
09 (b) The legislature may appropriate to the fund money received by the state as
10 Alaska marine highway system program receipts or from a settlement or final judicial
11 determination of the Dinkum Sands case (United States v. Alaska) and the North
12 Slope royalty case (State v. Amerada Hess, et al.) and not deposited into the Alaska
13 permanent fund under AS 37.13.010(a)(1) [OR (2)] or into the public school trust fund
01 under AS 37.14.150.
02 * Sec. 2. AS 37.13.010(a) is amended to read:
03 (a) Under art. IX, sec. 15, of the state constitution, there is established as a
04 separate fund the Alaska permanent fund. The Alaska permanent fund consists of
05 (1) 25 percent of all mineral lease rentals, royalties, royalty sale
06 proceeds, net profit shares under AS 38.05.180(f) and (g), 25 percent of [AND]
07 federal mineral revenue sharing payments received by the state from mineral leases
08 [ISSUED ON OR BEFORE DECEMBER 1, 1979], and 25 percent of all bonuses
09 received by the state from mineral leases [ISSUED ON OR BEFORE FEBRUARY
10 15, 1980]; and
11 (2) [50 PERCENT OF ALL MINERAL LEASE RENTALS,
12 ROYALTIES, ROYALTY SALE PROCEEDS, NET PROFIT SHARES UNDER
13 AS 38.05.180(f) AND (g), AND FEDERAL MINERAL REVENUE SHARING
14 PAYMENTS RECEIVED BY THE STATE FROM MINERAL LEASES ISSUED
15 AFTER DECEMBER 1, 1979, AND 50 PERCENT OF ALL BONUSES RECEIVED
16 BY THE STATE FROM MINERAL LEASES ISSUED AFTER FEBRUARY 15,
18 (3)] any other money appropriated to or otherwise allocated by law or
19 former law to the Alaska permanent fund.
20 * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).