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SCS CSHB 104(FIN) Detail
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SCS CSHB 104(FIN): "An Act renaming the Alaska performance scholarship and relating to the scholarship and tax credits applicable to contributions to the scholarship; relating to AlaskAdvantage education grant funding and to Alaska performance scholarship funding; relating to AlaskAdvantage education grant eligibility; establishing accounts and a fund for those purposes; making conforming amendments; and providing for an effective date."

00 SENATE CS FOR CS FOR HOUSE BILL NO. 104(FIN) 01 "An Act renaming the Alaska performance scholarship and relating to the scholarship 02 and tax credits applicable to contributions to the scholarship; relating to 03 AlaskAdvantage education grant funding and to Alaska performance scholarship 04 funding; relating to AlaskAdvantage education grant eligibility; establishing accounts 05 and a fund for those purposes; making conforming amendments; and providing for an 06 effective date." 07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 08 * Section 1. AS 14.03.113 is amended to read: 09 Sec. 14.03.113. District determination of scholarship eligibility. A school 10 district shall determine whether a student who graduates from a high school in the 11 district is eligible for an award of an Alaska performance [MERIT SCHOLARSHIP 12 PROGRAM] scholarship under AS 14.43.810 - 14.43.849. If a student is eligible, the 13 district shall state in the student's permanent record the highest level of funding for

01 which the student is eligible. A district shall provide a student with an opportunity to 02 request that the district correct an error in the eligibility determination. 03 * Sec. 2. AS 14.43.415(a) is amended to read: 04 (a) For an applicant to be eligible for a grant under AS 14.43.400 - 14.43.420, 05 the applicant must be 06 (1) a resident of this state; 07 (2) enrolled or about to be enrolled 08 (A) at an institution located in the state that is 09 (i) accredited by an institutional accrediting body 10 recognized by the United States Secretary of Education; or 11 (ii) approved to participate in the Alaska 12 performance scholarship program as a qualified postsecondary 13 institution under AS 14.43.830 [APPROVED TO PARTICIPATE IN 14 FEDERAL FINANCIAL AID PROGRAMS UNDER 20 U.S.C. 1070 - 15 1099c-2, AS AMENDED, LOCATED IN THIS STATE]; and 16 (B) on at least a half-time basis; and 17 (3) able to demonstrate financial need in accordance with standards for 18 determining financial need established by the commission [UNDER 20 U.S.C. 1070c- 19 2, AS AMENDED]. 20 * Sec. 3. AS 14.43.810 is amended to read: 21 Sec. 14.43.810. Alaska performance [MERIT] scholarship program 22 established; regulations. (a) The Alaska performance [MERIT] scholarship program 23 is established to provide scholarships for Alaska residents who have attained an 24 Alaska High School Diploma by Examination after January 1, 2011, or who are 25 high school graduates [WHO ARE ALASKA RESIDENTS] to attend a qualified 26 postsecondary institution in the state. 27 (b) The department shall, in consultation with the commission, adopt 28 regulations necessary to implement the Alaska performance scholarship program. 29 The commission shall administer the daily operations of the Alaska performance 30 scholarship program and financing of the Alaska performance scholarship program, 31 including the procedures for applying for the scholarships, establishing standards for

01 and ensuring continuing compliance with programmatic standards, and requiring 02 students to apply for other nonloan financial aid, consistent with federal law. 03 * Sec. 4. AS 14.43.820(a) is amended to read: 04 (a) Subject to appropriation, the commission shall award an Alaska 05 performance [MERIT SCHOLARSHIP PROGRAM] scholarship to an applicant who 06 (1) is a resident of the state as defined in AS 01.10.055; 07 (2) except as provided in (c) of this section, graduated or will 08 graduate within six months from a high school in the state; 09 (3) except as provided in (d) of this section, has completed a core 10 academic curriculum of [IN] high school level coursework that includes 11 (A) four years of mathematics, four years of language arts, four 12 years of science, and four years of social studies, one year of which may 13 include a foreign language, an Alaska Native language, fine arts, or cultural 14 heritage; or 15 (B) three years of mathematics, four years of language arts, 16 three years of science, four years of social studies, and two years of a foreign 17 language or an Alaska Native language; 18 (4) except as provided in (c) of this section, has a minimum grade- 19 point average in high school of 2.5 or higher; the department shall set by regulation 20 minimum requirements based on a substantially similar standard for districts that do 21 not assign grades; 22 (5) has achieved a minimum score on a 23 (A) college entrance examination; or 24 (B) standardized examination designed to measure a student's 25 level of preparedness to make the transition to work, as selected by the 26 department; and 27 (6) is enrolled in good standing in a course of study at a qualified 28 postsecondary institution in this state that is intended to result in the award of a 29 certificate or degree. 30 * Sec. 5. AS 14.43.820 is amended by adding new subsections to read: 31 (c) Notwithstanding the eligibility requirements in (a)(2) and (4) of this

01 section, the department shall adopt regulations to provide for the eligibility of a 02 student who has attained an Alaska High School Diploma by Examination in the state. 03 (d) The commissioner shall waive a portion of the core academic requirements 04 specified under (a)(3) of this section for not more than 12 additional months after a 05 student graduates from a high school in the state or 24 months after a student attains 06 an Alaska High School Diploma by Examination to provide an eligible applicant the 07 opportunity to complete the academic requirements at a qualified postsecondary 08 institution using a scholarship awarded under AS 14.43.825(a) or at a public high 09 school in the state with a district sponsorship under (g) of this section if the applicant 10 submits a timely application on a form approved by the commissioner and, for an 11 applicant who has graduated from a high school in the state, provides satisfactory 12 proof that the applicant was unable to complete the academic requirements under 13 (a)(3) of this section as a result of circumstances beyond the applicant's control, 14 including 15 (1) illness or disability; 16 (2) a lack of reasonable access to the required coursework at a small or 17 remote high school attended by the applicant in the state; and 18 (3) other circumstances prescribed by regulation adopted by the board. 19 (e) The commissioner shall approve or deny an application for a waiver 20 submitted under (d) of this section within 30 days after receiving the application. 21 (f) An applicant who receives a waiver under (d) of this section, shall, within 22 the time granted for the waiver, provide satisfactory proof to the commissioner of 23 completion of the core academic requirements specified under (a)(3) of this section. 24 (g) Notwithstanding a contrary provision in this title, a school district that 25 agrees to sponsor a student for a waiver under (d) of this section may include a student 26 who has been approved for a waiver under (d) of this section in the student count 27 conducted under AS 14.17.600 as a full-time or part-time student if the student attends 28 a school in the district for the purpose of completing the core academic requirements 29 under (a)(3) of this section. 30 (h) In this section, "district" has the meaning given in AS 14.17.990. 31 * Sec. 6. AS 14.43.825(a) is amended to read:

01 (a) The maximum annual awards for the Alaska performance [MERIT 02 SCHOLARSHIP PROGRAM] scholarships are as follows: 03 (1) the first award level is $4,755 and requires a 04 (A) 3.5 grade-point average or above or a total score in the 05 90th percentile or above on the general educational development 06 examination; and 07 (B) [A] very high minimum score on a college entrance 08 examination; 09 (2) the second award level is $3,566 and requires a 10 (A) 3.0 grade-point average or above or a total score in the 11 80th percentile or above on the general educational development 12 examination; and 13 (B) [A] high minimum score on a college entrance 14 examination; 15 (3) the third award level is $2,378 and requires a 16 (A) 2.5 grade-point average or above or a total score in the 17 70th percentile or above on the general educational development 18 examination; and 19 (B) [A] moderately high minimum score on a college entrance 20 examination. 21 * Sec. 7. AS 14.43.825(b) is amended to read: 22 (b) A student's eligibility for a scholarship terminates six years after the date 23 the student graduates [GRADUATED] from high school or attains a State of 24 Alaska High School Diploma by Examination, unless the student qualifies for an 25 extension of time allowed by the department by regulation. 26 * Sec. 8. AS 14.43.825(f) is repealed and reenacted to read: 27 (f) Payment of a scholarship is subject to appropriation and the availability of 28 funds for expenditure under AS 37.14.750. If insufficient funds are appropriated or 29 available in a fiscal year to pay all eligible scholarships, the commission may not 30 award a scholarship to a new applicant, and the commission shall pay existing awards 31 on a pro rata basis for that fiscal year.

01 * Sec. 9. AS 14.43.830 is amended to read: 02 Sec. 14.43.830. Qualified postsecondary institutions. (a) The following 03 institutions are qualified postsecondary institutions for purposes of awarding an 04 Alaska performance [MERIT SCHOLARSHIP PROGRAM] scholarship: 05 (1) a university or college physically located in the state that [IS] 06 (A) is authorized to operate in the state under AS 14.48.020 or 07 is exempt from authorization under AS 14.48.030(b)(1); [AND] 08 (B) is accredited by a regional or national accreditation 09 association; 10 (C) has an advisory program established for incoming 11 students that provides counseling related to course selection, career 12 choice, and personal challenges; and 13 (D) provides courses and credits that can result in the 14 issuance of a degree or certificate available at the institution within a time 15 frame expected for that degree or certificate; 16 (2) a career and technical school program physically located in the 17 state that meets the standards established in (a)(1)(C) and (D) of this section and 18 that has been included on a list of certified career and technical school programs 19 received from the Department of Labor and Workforce Development; the commission 20 shall publish the list on or before June 30 of the year preceding enrollment. 21 (b) The Department of Labor and Workforce Development shall, in 22 consultation with the Department of Education and Early Development, adopt 23 regulations under AS 44.62 (Administrative Procedure Act) establishing criteria under 24 which the Department of Labor and Workforce Development shall certify career and 25 technical school programs in the state as eligible to participate in the Alaska 26 performance [MERIT] scholarship program. 27 * Sec. 10. AS 14.43.849(4) is amended to read: 28 (4) "program" means the Alaska performance [MERIT] scholarship 29 program established under AS 14.43.810 - 14.43.849; 30 * Sec. 11. AS 14.43 is amended by adding a new section to read: 31 Sec. 14.43.915. AlaskAdvantage education grant account and Alaska

01 performance scholarship award account. (a) The AlaskAdvantage education grant 02 account is created as an account in the general fund. Money may be appropriated to 03 the account from the Alaska higher education investment fund under AS 37.14.750 04 and from other sources. The commission may use the money in the account to pay 05 grants awarded under AS 14.43.400 - 14.43.420. 06 (b) The Alaska performance scholarship award account is created as an 07 account in the general fund. Money may be appropriated to the account from the 08 Alaska higher education investment fund under AS 37.14.750 and from other sources. 09 The commission may use the money in the account to pay scholarships awarded to 10 students under AS 14.43.810 - 14.43.849. 11 (c) Of the total amount available annually to the commission for payment of 12 grants under AS 14.43.400 - 14.43.420 and for payment of scholarships under 13 AS 14.43.810 - 14.43.849, one-third of the combined amount in the accounts 14 established under (a) and (b) of this section shall be available solely for payment of 15 grants awarded under AS 14.43.400 - 14.43.420. The commission shall annually 16 allocate to all qualified applicants for scholarships awarded under AS 14.43.810 - 17 14.43.849 two-thirds of the combined amount in the accounts. If an insufficient 18 number of qualified applicants are awarded scholarships under AS 14.43.810 - 19 14.43.849 before September 1 of each fiscal year, the balance of the account 20 established in (b) of this section shall be transferred to the account established in (a) of 21 this section for the payment of grants under AS 14.43.400 - 14.43.420 for that year. If 22 an insufficient number of qualified applicants are awarded grants under AS 14.43.400 23 - 14.43.420 before the end of that fiscal year, the commissioner shall redeposit the 24 remaining funds into the Alaska higher education investment fund established under 25 AS 37.14.750. 26 (d) The commission shall reserve a percentage calculated under this 27 subsection of the total amount available for awards in the accounts established under 28 (a) and (b) of this section each year for award to students who graduate from a school 29 district with an ADM of less than 800 or from a school that was operated by the 30 Alaska State-Operated School System established under former AS 14.08.020. The 31 percentage reserved under this subsection shall be calculated by adding the ADMs of

01 districts with an ADM of less than 800 and the number of students enrolled in a school 02 that was operated by the Alaska State-Operated School System established under 03 former AS 14.08.020 that is located in a district with an ADM of 800 or more and then 04 dividing that number by the sum of the ADMs of all districts in the state. 05 (e) If an insufficient number of applicants apply for the available amount 06 reserved under (d) of this section, the commission shall redeposit the remaining 07 amount in the account from which the funds originated. 08 (f) In this section, 09 (1) "ADM" has the meaning given in AS 14.17.990; 10 (2) "district" has the meaning given in AS 14.17.990, but also includes 11 a state boarding school under AS 14.16. 12 * Sec. 12. AS 14.45.130(a) is amended to read: 13 (a) A religious or other private school that elects to comply with AS 14.45.100 14 - 14.45.130 shall maintain permanent student records reflecting immunizations, 15 physical examinations, standardized testing, academic achievement, courses taken at 16 the school, and level of eligibility for an Alaska performance [MERIT 17 SCHOLARSHIP PROGRAM] scholarship under AS 14.43.810 - 14.43.849. 18 * Sec. 13. AS 37.14 is amended by adding a new section to read: 19 Article 8A. Alaska Higher Education Investment Fund. 20 Sec. 37.14.750. Alaska higher education investment fund established. (a) 21 The Alaska higher education investment fund is established in the general fund for the 22 purpose of making grants awarded under AS 14.43.400 - 14.43.420 by appropriation 23 to the account established under AS 14.43.915(a) and of making scholarship payments 24 to qualified postsecondary institutions for students under AS 14.43.810 - 14.43.849 by 25 appropriation to the account established under AS 14.43.915(b). Money in the fund 26 does not lapse. The fund consists of 27 (1) money appropriated to the fund; 28 (2) income earned on investment of fund assets; 29 (3) donations to the fund; and 30 (4) money redeposited under AS 14.43.915(c). 31 (b) The legislature may appropriate any amount to the fund established in (a)

01 of this section. Nothing in this section creates a dedicated fund. 02 (c) As soon as is practicable after July 1 of each year, the commissioner of 03 revenue shall determine the market value of the fund established in this section on 04 June 30 for the immediately preceding fiscal year. The commissioner shall identify 10 05 percent of that amount as available for appropriation as follows: 06 (1) one-third for the grant account established under AS 14.43.915(a), 07 from which the Alaska Commission on Postsecondary Education may award grants; 08 and 09 (2) two-thirds for the scholarship account established under 10 AS 14.43.915(b), from which the Alaska Commission on Postsecondary Education 11 may award scholarships. 12 (d) In this section, unless the context requires otherwise, "fund" means the 13 Alaska higher education investment fund established in (a) of this section. 14 * Sec. 14. AS 43.20.014(a) is amended to read: 15 (a) A taxpayer is allowed a credit against the tax due under this chapter for 16 cash contributions accepted for 17 (1) [FOR] direct instruction, research, and educational support 18 purposes, including library and museum acquisitions, and contributions to endowment, 19 by an Alaska university foundation or by a nonprofit, public or private, Alaska two- 20 year or four-year college accredited by a regional accreditation association; 21 (2) [FOR] secondary school level vocational education courses, 22 programs, and facilities by a school district in the state; 23 (3) [FOR] vocational education courses, programs, and facilities by a 24 state-operated vocational technical education and training school; 25 (4) [FOR] a facility or an annual intercollegiate sports tournament by a 26 nonprofit, public or private, Alaska two-year or four-year college accredited by a 27 regional accreditation association; 28 (5) [FOR] Alaska Native cultural or heritage programs and educational 29 support, including mentoring and tutoring, provided by a nonprofit agency for public 30 school staff and for students who are in grades kindergarten through 12 in the state; 31 [AND]

01 (6) [FOR] education, research, rehabilitation, and facilities by an 02 institution that is located in the state and that qualifies as a coastal ecosystem learning 03 center under the Coastal America Partnership established by the federal government; 04 and 05 (7) the Alaska higher education investment fund under 06 AS 37.14.750. 07 * Sec. 15. AS 43.20.014(a), as amended by sec. 14, ch. 92, SLA 2010, is amended to read: 08 (a) A taxpayer is allowed a credit against the tax due under this chapter for 09 cash contributions accepted 10 (1) for direct instruction, research, and educational support purposes, 11 including library and museum acquisitions, and contributions to endowment, by an 12 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 13 four-year college accredited by a regional accreditation association; 14 (2) for secondary school level vocational education courses and 15 programs by a school district in the state; [AND] 16 (3) by a state-operated vocational technical education and training 17 school; and 18 (4) for the Alaska higher education investment fund under 19 AS 37.14.750. 20 * Sec. 16. AS 43.55.019(a) is amended to read: 21 (a) A producer of oil or gas is allowed a credit against the tax due under this 22 chapter for cash contributions accepted for 23 (1) [FOR] direct instruction, research, and educational support 24 purposes, including library and museum acquisitions, and contributions to endowment, 25 by an Alaska university foundation or by a nonprofit, public or private, Alaska two- 26 year or four-year college accredited by a regional accreditation association; 27 (2) [FOR] secondary school level vocational education courses, 28 programs, and facilities by a school district in the state; 29 (3) [FOR] vocational education courses, programs, and facilities by a 30 state-operated vocational technical education and training school; 31 (4) [FOR] a facility or an annual intercollegiate sports tournament by a

01 nonprofit, public or private, Alaska two-year or four-year college accredited by a 02 regional accreditation association; 03 (5) [FOR] Alaska Native cultural or heritage programs and educational 04 support, including mentoring and tutoring, provided by a nonprofit agency for public 05 school staff and for students who are in grades kindergarten through 12 in the state; 06 [AND] 07 (6) [FOR] education, research, rehabilitation, and facilities by an 08 institution that is located in the state and that qualifies as a coastal ecosystem learning 09 center under the Coastal America Partnership established by the federal government; 10 and 11 (7) the Alaska higher education investment fund under 12 AS 37.14.750. 13 * Sec. 17. AS 43.55.019(a), as amended by sec. 21, ch. 92, SLA 2010, is amended to read: 14 (a) A producer of oil or gas is allowed a credit against the tax due under this 15 chapter for cash contributions accepted 16 (1) for direct instruction, research, and educational support purposes, 17 including library and museum acquisitions, and contributions to endowment, by an 18 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 19 four-year college accredited by a regional accreditation association; 20 (2) for secondary school level vocational education courses and 21 programs by a school district in the state; [AND] 22 (3) by a state-operated vocational technical education and training 23 school; and 24 (4) for the Alaska higher education investment fund under 25 AS 37.14.750. 26 * Sec. 18. AS 43.56.018(a) is amended to read: 27 (a) The owner of property taxable under this chapter is allowed a credit 28 against the tax due under this chapter for cash contributions accepted for 29 (1) [FOR] direct instruction, research, and educational support 30 purposes, including library and museum acquisitions, and contributions to endowment, 31 by an Alaska university foundation or by a nonprofit, public or private, Alaska two-

01 year or four-year college accredited by a regional accreditation association; 02 (2) [FOR] secondary school level vocational education courses, 03 programs, and facilities by a school district in the state; 04 (3) [FOR] vocational education courses, programs, and facilities by a 05 state-operated vocational technical education and training school; 06 (4) [FOR] a facility or an annual intercollegiate sports tournament by a 07 nonprofit, public or private, Alaska two-year or four-year college accredited by a 08 regional accreditation association; 09 (5) [FOR] Alaska Native cultural or heritage programs and educational 10 support, including mentoring and tutoring, provided by a nonprofit agency for public 11 school staff and for students who are in grades kindergarten through 12 in the state; 12 [AND] 13 (6) [FOR] education, research, rehabilitation, and facilities by an 14 institution that is located in the state and that qualifies as a coastal ecosystem learning 15 center under the Coastal America Partnership established by the federal government; 16 and 17 (7) the Alaska higher education investment fund under 18 AS 37.14.750. 19 * Sec. 19. AS 43.56.018(a), as amended by sec. 28, ch. 92, SLA 2010, is amended to read: 20 (a) The owner of property taxable under this chapter is allowed a credit 21 against the tax due under this chapter for cash contributions accepted 22 (1) for direct instruction, research, and educational support purposes, 23 including library and museum acquisitions, and contributions to endowment, by an 24 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 25 four-year college accredited by a regional accreditation association; 26 (2) for secondary school level vocational education courses and 27 programs by a school district in the state; [AND] 28 (3) by a state-operated vocational technical education and training 29 school; and 30 (4) for the Alaska higher education investment fund under 31 AS 37.14.750.

01 * Sec. 20. AS 43.65.018(a) is amended to read: 02 (a) A person engaged in the business of mining in the state is allowed a credit 03 against the tax due under this chapter for cash contributions accepted for 04 (1) [FOR] direct instruction, research, and educational support 05 purposes, including library and museum acquisitions, and contributions to endowment, 06 by an Alaska university foundation or by a nonprofit, public or private, Alaska two- 07 year or four-year college accredited by a regional accreditation association; 08 (2) [FOR] secondary school level vocational education courses, 09 programs, and facilities by a school district in the state; 10 (3) [FOR] vocational education courses, programs, and facilities by a 11 state-operated vocational technical education and training school; 12 (4) [FOR] a facility or an annual intercollegiate sports tournament by a 13 nonprofit, public or private, Alaska two-year or four-year college accredited by a 14 regional accreditation association; 15 (5) [FOR] Alaska Native cultural or heritage programs and educational 16 support, including mentoring and tutoring, provided by a nonprofit agency for public 17 school staff and for students who are in grades kindergarten through 12 in the state; 18 [AND] 19 (6) [FOR] education, research, rehabilitation, and facilities by an 20 institution that is located in the state and that qualifies as a coastal ecosystem learning 21 center under the Coastal America Partnership established by the federal government; 22 and 23 (7) the Alaska higher education investment fund under 24 AS 37.14.750. 25 * Sec. 21. AS 43.65.018(a), as amended by sec. 35, ch. 92, SLA 2010, is amended to read: 26 (a) A person engaged in the business of mining in the state is allowed a credit 27 against the tax due under this chapter for cash contributions accepted 28 (1) for direct instruction, research, and educational support purposes, 29 including library and museum acquisitions, and contributions to endowment, by an 30 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 31 four-year college accredited by a regional accreditation association;

01 (2) for secondary school level vocational education courses and 02 programs by a school district in the state; [AND] 03 (3) by a state-operated vocational technical education and training 04 school; and 05 (4) for the Alaska higher education investment fund under 06 AS 37.14.750. 07 * Sec. 22. AS 43.75.018(a) is amended to read: 08 (a) A person engaged in a fisheries business is allowed a credit against the tax 09 due under this chapter for cash contributions accepted for 10 (1) [FOR] direct instruction, research, and educational support 11 purposes, including library and museum acquisitions, and contributions to endowment, 12 by an Alaska university foundation or by a nonprofit, public or private, Alaska two- 13 year or four-year college accredited by a regional accreditation association; 14 (2) [FOR] secondary school level vocational education courses, 15 programs, and facilities by a school district in the state; 16 (3) [FOR] vocational education courses, programs, and facilities by a 17 state-operated vocational technical education and training school; 18 (4) [FOR] a facility or an annual intercollegiate sports tournament by a 19 nonprofit, public or private, Alaska two-year or four-year college accredited by a 20 regional accreditation association; 21 (5) [FOR] Alaska Native cultural or heritage programs and educational 22 support, including mentoring and tutoring, provided by a nonprofit agency for public 23 school staff and for students who are in grades kindergarten through 12 in the state; 24 [AND] 25 (6) [FOR] education, research, rehabilitation, and facilities by an 26 institution that is located in the state and that qualifies as a coastal ecosystem learning 27 center under the Coastal America Partnership established by the federal government; 28 and 29 (7) the Alaska higher education investment fund under 30 AS 37.14.750. 31 * Sec. 23. AS 43.75.018(a), as amended by sec. 42, ch. 92, SLA 2010, is amended to read:

01 (a) A person engaged in a fisheries business is allowed a credit against the tax 02 due under this chapter for cash contributions accepted 03 (1) for direct instruction, research, and educational support purposes, 04 including library and museum acquisitions, and contributions to endowment, by an 05 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 06 four-year college accredited by a regional accreditation association; 07 (2) for secondary school level vocational education courses and 08 programs by a school district in the state; [AND] 09 (3) by a state-operated vocational technical education and training 10 school; and 11 (4) for the Alaska higher education investment fund under 12 AS 37.14.750. 13 * Sec. 24. AS 43.77.045(a) is amended to read: 14 (a) In addition to the credit allowed under AS 43.77.040, a person engaged in 15 a floating fisheries business is allowed a credit against the tax due under this chapter 16 for cash contributions accepted for 17 (1) [FOR] direct instruction, research, and educational support 18 purposes, including library and museum acquisitions, and contributions to endowment, 19 by an Alaska university foundation or by a nonprofit, public or private, Alaska two- 20 year or four-year college accredited by a regional accreditation association; 21 (2) [FOR] secondary school level vocational education courses, 22 programs, and facilities by a school district in the state; 23 (3) [FOR] vocational education courses, programs, and facilities by a 24 state-operated vocational technical education and training school; 25 (4) [FOR] a facility or an annual intercollegiate sports tournament by a 26 nonprofit, public or private, Alaska two-year or four-year college accredited by a 27 regional accreditation association; 28 (5) [FOR] Alaska Native cultural or heritage programs and educational 29 support, including mentoring and tutoring, provided by a nonprofit agency for public 30 school staff and for students who are in grades kindergarten through 12 in the state; 31 [AND]

01 (6) [FOR] education, research, rehabilitation, and facilities by an 02 institution that is located in the state and that qualifies as a coastal ecosystem learning 03 center under the Coastal America Partnership established by the federal government; 04 and 05 (7) the Alaska higher education investment fund under 06 AS 37.14.750. 07 * Sec. 25. AS 43.77.045(a), as amended by sec. 49, ch. 92, SLA 2010, is amended to read: 08 (a) In addition to the credit allowed under AS 43.77.040, a person engaged in 09 a floating fisheries business is allowed a credit against the tax due under this chapter 10 for cash contributions accepted 11 (1) for direct instruction, research, and educational support purposes, 12 including library and museum acquisitions, and contributions to endowment, by an 13 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 14 four-year college accredited by a regional accreditation association; 15 (2) for secondary school level vocational education courses and 16 programs by a school district in the state; [AND] 17 (3) by a state-operated vocational technical education and training 18 school; and 19 (4) for the Alaska higher education investment fund under 20 AS 37.14.750. 21 * Sec. 26. Section 8, ch. 14, SLA 2010, is repealed. 22 * Sec. 27. The uncodified law of the State of Alaska is amended by adding a new section to 23 read: 24 TRANSITION: ALASKA HIGHER EDUCATION INVESTMENT FUND. The 25 Alaska higher education investment fund established in AS 37.14.750, enacted by sec. 12 of 26 this Act, is the fund identified in sec. 20(f), ch. 5, FSSLA 2011. 27 * Sec. 28. The uncodified law of the State of Alaska is amended by adding a new section to 28 read: 29 TRANSITION: REGULATIONS. The Department of Education and Early 30 Development, the Department of Labor and Workforce Development, the Department of 31 Revenue, and the Alaska Commission on Postsecondary Education may adopt regulations

01 necessary to implement changes made to their respective authorities by this Act. The 02 regulations take effect under AS 44.62 (Administrative Procedure Act), but not before July 1, 03 2012. 04 * Sec. 29. The uncodified law of the State of Alaska is amended by adding a new section to 05 read: 06 REVISOR'S INSTRUCTION. The revisor of statutes is instructed to change the 07 (1) heading of art. 12 of AS 14.43 from "Alaska Merit Scholarship Program" 08 to "Alaska Performance Scholarship Program"; 09 (2) catch line for AS 14.43.820 from "Alaska merit scholarship program; 10 eligibility" to "Alaska performance scholarship program; eligibility." 11 * Sec. 30. Sections 2, 4, 5 - 7, and AS 14.43.915(d) and (e), added by sec. 11 of this Act, 12 take effect April 1, 2013. 13 * Sec. 31. AS 14.43.830(a)(1)(C) and (D), added by sec. 9 of this Act, and the amendment 14 to AS 14.43.830(a)(2) made by sec. 9 of this Act take effect July 1, 2013. 15 * Sec. 32. Sections 15, 17, 19, 21, 23, and 25 of this Act take effect January 1, 2021. 16 * Sec. 33. Except as provided in secs. 30 - 32 of this Act, this Act takes effect immediately 17 under AS 01.10.070(c).