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SB 182: "An Act repealing the special subaccount in the constitutional budget reserve fund in which higher yield investments are authorized, and directing transfer of the subaccount's balance and retained earnings into that budget reserve fund; and providing for an effective date." 

00                            SENATE BILL NO. 182                                                                         
01 "An Act repealing the special subaccount in the constitutional budget reserve fund in                                   
02 which higher yield investments are authorized, and directing transfer of the                                            
03 subaccount's balance and retained earnings into that budget reserve fund; and                                           
04 providing for an effective date."                                                                                       
05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
06    * Section 1. AS 37.10.430(c) is repealed.                                                                          
07    * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to                          
08 read:                                                                                                                   
09       TRANSITION. On the effective date of this Act, the commissioner of revenue shall                                  
10 transfer the balance of the special subaccount established in AS 37.10.430(c), repealed by sec.                         
11 1 of this Act, to the budget reserve fund (art. IX, sec. 17, Constitution of the State of Alaska).                      
12    * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).