00                            HOUSE BILL NO. 126                                                                          
01 "An Act authorizing municipalities to provide for economic development and                                              
02 authorizing boroughs to expend revenue collected on an areawide or nonareawide basis                                    
03 to provide for economic development."                                                                                   
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1.  AS 29.35.010 is amended by adding a new paragraph to read:                                           
06                 (16)  to provide for economic development that benefits the                                             
07       municipality.                                                                                                     
08    * Sec. 2.  AS 29.35.110 is amended by adding a new subsection to read:                                             
09            (c)  Use of borough revenue for economic development that benefits the                                       
10       borough is not subject to (a) of this section.                                                                    
11    * Sec. 3.  AS 29.35.210(a)(8) is repealed.