00                            SENATE BILL NO. 105                                                                         
01 "An Act relating to reimbursement to municipalities by the Department of                                                
02 Transportation and Public Facilities for debt incurred by those municipalities for                                      
03 certain capital projects; and providing for an effective date."                                                         
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1.  AS 29.60.700(a) is amended to read:                                                                  
06            (a)  Subject to appropriations for the purpose, during each fiscal year, the                                 
07       Department of Transportation and Public Facilities shall allocate to each municipality                            
08       an amount to reimburse the costs paid by the municipality during the immediately                                  
09       preceding fiscal year for the principal and interest on outstanding debt for projects                             
10       listed in (b) of this section. An allocation may be made to a municipality only if                                
11                 (1)  the debt was incurred by the municipality before July 1, 2012                                  
12       [2007]; and                                                                                                       
13                 (2)  the project or facility financed with the debt proceeds is located in                              
14       the municipality and the project or facility is operated or controlled by the                                     

01       municipality.                                                                                                     
02    * Sec. 2. This Act takes effect July 1, 2007.