00                      CS FOR HOUSE BILL NO. 422(STA)                                                                    
01 "An Act repealing the special subaccount established in the constitutional budget                                       
02 reserve fund; and providing for an effective date."                                                                     
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 37.10.430(c) is repealed.                                                                         
05    * Sec. 2.  The uncodified law of the State of Alaska is amended by adding a new section to                         
06 read:                                                                                                                   
07       TRANSITION.  The special subaccount investments established under                                                 
08 AS 37.10.430(c), repealed by sec. 1 of this Act, merge with other assets of the budget reserve                          
09 fund (art. IX, sec. 17, Constitution of the State of Alaska) into a single account.                                     
10    * Sec. 3.  This Act takes effect immediately under AS 01.10.070(c).