00                     CS FOR SENATE BILL NO. 105(TRA)                                                                    
01 "An Act extending, for purposes of a program of debt reimbursement to municipalities,                                   
02 the date by which debt must be incurred for a small boat harbor; and providing for an                                   
03 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, 2007, or, if                          
12       the debt is for a small boat harbor, before July 1, 2012; 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.