HB 289: "An Act relating to state aid for local services and establishing the local tax relief and municipal assistance fund."
00 HOUSE BILL NO. 289 01 "An Act relating to state aid for local services and establishing the local tax relief and 02 municipal assistance fund." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. The uncodified law of the State of Alaska is amended by adding a new section 05 to read: 06 SHORT TITLE. This Act may be known as the Local Tax Relief and Municipal 07 Assistance Act. 08 * Sec. 2. AS 29.60 is amended by adding a new section to article 3 to read: 09 Sec. 29.60.320. Local tax relief and municipal assistance fund. (a) There 10 is established as a separate fund in the general fund the local tax relief and municipal 11 assistance fund. Money received by the state as a result of action taken under 12 AS 43.55.013(j) during 2005 to aggregate leases or properties, or portions of them, 13 shall be deposited into the local tax relief and municipal assistance fund within 30 14 days after receipt. Money in the fund shall be managed and invested under
01 AS 37.10.070. Income of the fund and other money may be appropriated to the fund. 02 (b) Appropriations may be made from the local tax relief and municipal 03 assistance fund for payments to municipalities and communities under AS 29.60.010 - 04 29.60.375. Nothing in this subsection creates a dedicated fund.