CSSB 43(EDC): "An Act renaming the Alaska performance scholarship and relating to the scholarship; relating to education tax credits; relating to AlaskAdvantage education grant funding and to Alaska performance scholarship funding and establishing an account and funds for those purposes; amending funding for the Alaska capital income fund; making conforming amendments; providing for an effective date by amending the effective date in sec. 57, ch. 92, SLA 2010; and providing for an effective date."
00 CS FOR SENATE BILL NO. 43(EDC) 01 "An Act renaming the Alaska performance scholarship and relating to the scholarship; 02 relating to education tax credits; relating to AlaskAdvantage education grant funding 03 and to Alaska performance scholarship funding and establishing an account and funds 04 for those purposes; amending funding for the Alaska capital income fund; making 05 conforming amendments; providing for an effective date by amending the effective date 06 in sec. 57, ch. 92, SLA 2010; and providing for an effective date." 07 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 08 * Section 1. AS 14.03.113, as enacted by sec. 1, ch. 14, SLA 2010, 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 14.43.810, as enacted by sec. 5, ch. 14, SLA 2010, is amended to read: 04 Sec. 14.43.810. Alaska performance [MERIT] scholarship program 05 established; regulations. (a) The Alaska performance [MERIT] scholarship program 06 is established to provide scholarships for high school graduates who are Alaska 07 residents to attend a qualified postsecondary institution in the state. 08 (b) The department shall, in consultation with the commission, adopt 09 regulations necessary to implement the scholarship program. The commission shall 10 administer the daily operations of the scholarship program and financing of the 11 scholarship program, including the procedures for applying for the scholarships, 12 establishing standards for and ensuring continuing compliance with programmatic 13 standards, and requiring students to apply for other nonloan financial aid, consistent 14 with federal law. 15 * Sec. 3. AS 14.43.820(a), as enacted by sec. 5, ch. 14, SLA 2010, is amended to read: 16 (a) Subject to appropriation, the commission shall award an Alaska 17 performance [MERIT SCHOLARSHIP PROGRAM] scholarship to an applicant who 18 (1) is a resident of the state as defined in AS 01.10.055; 19 (2) graduated or will graduate within six months from a high school in 20 the state; 21 (3) has completed a core academic curriculum in high school that 22 includes 23 (A) four years of mathematics, four years of language arts, four 24 years of science, and four years of social studies, one year of which may 25 include a foreign language, an Alaska Native language, fine arts, or cultural 26 heritage; or 27 (B) three years of mathematics, four years of language arts, 28 three years of science, four years of social studies, and two years of a foreign 29 language or an Alaska Native language; 30 (4) has a minimum grade-point average in high school of 2.5 or higher; 31 the department shall set by regulation minimum requirements based on a substantially
01 similar standard for districts that do not assign grades; 02 (5) has achieved a minimum score on a 03 (A) college entrance examination; or 04 (B) standardized examination designed to measure a student's 05 level of preparedness to make the transition to work, as selected by the 06 department; and 07 (6) is enrolled in good standing in a course of study at a qualified 08 postsecondary institution in this state that is intended to result in the award of a 09 certificate or degree. 10 * Sec. 4. AS 14.43.825(a), as enacted by sec. 5, ch. 14, SLA 2010, is amended to read: 11 (a) The maximum annual awards for the Alaska performance [MERIT 12 SCHOLARSHIP PROGRAM] scholarships are as follows: 13 (1) the first award level is $4,755 and requires a 3.5 grade-point 14 average or above and a very high minimum score on a college entrance examination; 15 (2) the second award level is $3,566 and requires a 3.0 grade-point 16 average or above and a high minimum score on a college entrance examination; 17 (3) the third award level is $2,378 and requires a 2.5 grade-point 18 average or above and a moderately high minimum score on a college entrance 19 examination. 20 * Sec. 5. AS 14.43.825(f), as enacted by sec. 5, ch. 14, SLA 2010, is amended to read: 21 (f) Payment of a scholarship is subject to appropriation. [IF INSUFFICIENT 22 FUNDS ARE APPROPRIATED TO PAY ALL ELIGIBLE SCHOLARSHIPS, THE 23 COMMISSION SHALL PAY EXISTING AWARDS ON A PRO RATA BASIS.] 24 * Sec. 6. AS 14.43.830, as enacted by sec. 5, ch. 14, SLA 2010, is repealed and reenacted to 25 read: 26 Sec. 14.43.830. Qualified postsecondary institution. (a) A university, 27 college, or career and technical school that is physically located in the state is a 28 qualified postsecondary institution for purposes of awarding an Alaska performance 29 scholarship if the institution 30 (1) is either 31 (A) a college or university that is
01 (i) authorized to operate in the state under AS 14.48.020 02 or is exempt from authorization under AS 14.48.030(b)(1); and 03 (ii) accredited by a regional or national accreditation 04 association; or 05 (B) included on a list of certified career and technical school 06 programs received from the Department of Labor and Workforce 07 Development; the commission shall publish the list on or before June 30 of the 08 year preceding enrollment; 09 (2) has an advisory program established for incoming students that 10 provides counseling related to course selection and career choice; and 11 (3) provides courses and credits that will result in the issuance of a 12 degree or certificate available at the institution within a period of time customary for 13 that degree or certificate. 14 (b) The Department of Labor and Workforce Development shall, in 15 consultation with the Department of Education and Early Development, adopt 16 regulations under AS 44.62 (Administrative Procedure Act) establishing criteria under 17 which the Department of Labor and Workforce Development shall certify career and 18 technical school programs in the state as eligible to participate in the Alaska 19 performance scholarship program. 20 * Sec. 7. AS 14.43.840, as enacted by sec. 5, ch. 14, SLA 2010, is amended to read: 21 Sec. 14.43.840. Report to the legislature. (a) To the extent permitted under 22 law, the department, the commission, the University of Alaska, and the Department of 23 Labor and Workforce Development shall share data necessary to prepare public 24 reports regarding the scholarship program. 25 (b) Not more than 10 days after the convening of each regular legislative 26 session, the department, the commission, the University of Alaska, and the 27 Department of Labor and Workforce Development shall present an annual report to 28 the public, the governor, and the legislature containing information of public interest 29 regarding the scholarship program, including 30 (1) the number of applicants and number and types of scholarships 31 awarded;
01 (2) the dollar amount of scholarships awarded in past years and the 02 dollar amount expected to be awarded for the next year; [AND] 03 (3) data and trends in the data regarding high school and postsecondary 04 student performance, programmatic changes, and retention and graduation rates over 05 time; and 06 (4) an assessment of the statewide centralized correspondence 07 study program as it relates to the scholarships, including Internet access 08 capabilities, plans to upgrade the quality and quantity of distance delivery of 09 education, and the availability by district of correspondence courses required for 10 the performance scholarship. 11 * Sec. 8. AS 14.43 is amended by adding a new section to read: 12 Sec. 14.43.915. AlaskAdvantage education grant and Alaska performance 13 scholarship award fund. (a) The AlaskAdvantage education grant and Alaska 14 performance scholarship award fund is established. The fund consists of 15 (1) appropriations for AlaskAdvantage education grant awards under 16 AS 14.43.400 - 14.43.420 and Alaska performance scholarship awards under 17 AS 14.43.810 - 14.43.849; 18 (2) appropriations from the AlaskAdvantage education grant and 19 Alaska performance scholarship investment fund under AS 37.14.750 - 37.14.790; 20 (3) money appropriated to the fund under AS 37.13.145(d); and 21 (4) income earned on the fund and appropriated to the fund. 22 (b) The commission may use money in the fund appropriated to pay grants 23 awarded under AS 14.43.400 - 14.43.420 and scholarships for students under 24 AS 14.43.810 - 14.43.849. Money appropriated to the fund may be expended without 25 further appropriation. The money in the fund may be expended only in awarding 26 grants under AS 14.43.400 - 14.43.420 and scholarships under AS 14.43.810 - 27 14.43.849. 28 (c) The amount annually available to the commission for payment of grants 29 awarded under AS 14.43.400 - 14.43.420 may not be less than one-third of the amount 30 awarded for scholarships under AS 14.43.810 - 14.43.849, except to the extent that the 31 total amount necessary to pay all eligible grant applicants in a fiscal year is less than
01 that amount. 02 (d) If insufficient funds are appropriated to pay all eligible grants and 03 scholarships, the commission shall allocate one-third of the balance of the fund 04 established under this section for payment of grant awards based on the highest to 05 lowest financial need and, if the balance of the fund established under AS 37.14.750 06 on July 1 is 07 (1) less than $80,000,000, pay only 08 (A) grants as provided in this subsection; and 09 (B) eligible previously obligated scholarship awards; the 10 awards may be made on a pro rata basis if necessary; 11 (2) $80,000,000 or more, pay 12 (A) grants as provided in this subsection; 13 (B) eligible previously obligated scholarship awards; and 14 (C) all other scholarship awards on a pro rata basis to be paid 15 out within four years. 16 (e) Money appropriated to the fund does not lapse except after the fourth 17 consecutive fiscal year in which no appropriations have been made to the fund, or all 18 awards have been paid to eligible recipients as provided in this chapter, whichever 19 occurs last. 20 * Sec. 9. AS 14.45.130(a), as amended by sec. 7, ch. 14, SLA 2010, is further amended to 21 read: 22 (a) A religious or other private school that elects to comply with AS 14.45.100 23 - 14.45.130 shall maintain permanent student records reflecting immunizations, 24 physical examinations, standardized testing, academic achievement, courses taken at 25 the school, and level of eligibility for an Alaska performance [MERIT 26 SCHOLARSHIP PROGRAM] scholarship under AS 14.43.810 - 14.43.849. 27 * Sec. 10. AS 21.96.070(a) is amended to read: 28 (a) A taxpayer is allowed a credit against the tax due under AS 21.09.210 or 29 AS 21.66.110 for cash contributions accepted 30 (1) for direct instruction, research, and educational support purposes, 31 including library and museum acquisitions, and contributions to endowment, by an
01 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 02 four-year college accredited by a regional accreditation association; 03 (2) for secondary school level vocational education courses, programs, 04 and facilities by a school district in the state; 05 (3) for vocational education courses, programs, and facilities by a 06 state-operated vocational technical education and training school; [AND] 07 (4) for a facility by a nonprofit, public or private, Alaska two-year or 08 four-year college accredited by a regional accreditation association; 09 (5) for the Alaska performance scholarship investment fund under 10 AS 37.14.750(a); and 11 (6) for education, research, rehabilitation, and facilities by an 12 institution that is located in the state and that qualifies as a coastal ecosystem 13 learning center under the Coastal America Partnership established by the federal 14 government. 15 * Sec. 11. AS 37.05.565(a) is amended to read: 16 (a) There is established in the general fund the Alaska capital income fund 17 consisting [OF MONEY DEPOSITED TO THE FUND UNDER AS 37.13.145(d) 18 AND] of appropriations to the fund. The fund shall be invested by the Department of 19 Revenue to yield competitive market rates as provided in AS 37.10.071. Income 20 earned on money in the fund may be appropriated to the fund. 21 * Sec. 12. AS 37.07.020(b) is amended to read: 22 (b) In addition to the budget and bills submitted under (a) of this section, the 23 governor shall submit a capital improvements program covering the succeeding six 24 fiscal years. The governor shall also submit a fiscal plan with estimates of significant 25 sources and uses of funds for the succeeding 10 fiscal years. The fiscal plan 26 (1) must include sufficient details to identify 27 (A) significant sources of funds; 28 (B) significant uses of funds, including lump sum projections 29 of 30 (i) operating expenditures; 31 (ii) capital expenditures;
01 (iii) debt service expenditures; 02 (iv) fund capitalizations; 03 (v) appropriations of income of the Alaska permanent 04 fund (art. IX, sec. 15, Constitution of the State of Alaska), if any; 05 (2) must balance sources and uses of funds held while providing for 06 essential state services and protecting the economic stability of the state; 07 (3) must include projected balances of significant funds held in 08 separate accounts, including the budget reserve fund (art. IX, sec. 17, Constitution of 09 the State of Alaska), the public education fund (AS 14.17.300), the AlaskAdvantage 10 education grant and Alaska performance scholarship investment fund 11 (AS 37.14.750), and the Alaska capital income fund (AS 37.05.565); 12 (4) must set out significant assumptions used in the projections with 13 sufficient detail to enable the legislature to rely on the fiscal plan in understanding, 14 evaluating, and resolving issues of state budgeting, including information that supports 15 major areas of operating increases, such as population demographics that affect the 16 need for particular government services. 17 * Sec. 13. AS 37.13.145(d) is amended to read: 18 (d) Notwithstanding (b) of this section, income earned on money awarded in or 19 received as a result of State v. Amerada Hess, et al., 1JU-77-847 Civ. (Superior Court, 20 First Judicial District), including settlement, summary judgment, or adjustment to a 21 royalty-in-kind contract that is tied to the outcome of this case, or interest earned on 22 the money, or on the earnings of the money shall be treated in the same manner as 23 other income of the Alaska permanent fund, except that it is not available for 24 distribution to the dividend fund or for transfers to the principal under (c) of this 25 section, and may [SHALL] be annually appropriated to [DEPOSITED INTO] the 26 AlaskAdvantage education grant and Alaska performance scholarship award 27 fund (AS 14.43.915). Nothing in this subsection creates a dedicated fund 28 [ALASKA CAPITAL INCOME FUND (AS 37.05.565)]. 29 * Sec. 14. AS 37.14 is amended by adding new sections to read: 30 Article 8A. AlaskAdvantage Education Grant and Alaska Performance Scholarship 31 Investment Fund.
01 Sec. 37.14.750. AlaskAdvantage education grant and Alaska performance 02 scholarship investment fund established. (a) The AlaskAdvantage education grant 03 and Alaska performance scholarship investment fund is established as a fund of the 04 state. The fund consists of 05 (1) appropriations to the fund; 06 (2) donations to the fund; and 07 (3) income earned on investments of fund assets and appropriated to 08 the fund. 09 (b) The commissioner of revenue shall manage the fund with the goal that the 10 purchasing power of the fund will not diminish over time without regard to additional 11 contributions that may be made to the fund. The commissioner shall invest the assets 12 of the fund in a manner likely to yield at least a five percent real rate of return over 13 time. 14 (c) Nothing in this section creates a dedicated fund. 15 Sec. 37.14.755. Powers and duties of the commissioner of revenue. In 16 carrying out the investment duties under AS 37.14.750 - 37.14.790, the commissioner 17 of revenue has the powers and duties set out in AS 37.10.071. The commissioner shall 18 provide reports to the Department of Education and Early Development, the 19 Department of Labor and Workforce Development, and the Alaska Commission on 20 Postsecondary Education on the condition and investment performance of the fund. 21 Sec. 37.14.760. Use of fund. As soon as practicable after July 1 of each year, 22 the commissioner of revenue shall determine the average month-end market value of 23 the fund for the immediately preceding three fiscal years. The commissioner shall 24 identify five percent of that amount as available for appropriation by the legislature for 25 appropriation to the AlaskAdvantage education grant and Alaska performance 26 scholarship award fund created under AS 14.43.915 from which the Alaska 27 Commission on Postsecondary Education may award grants under AS 14.43.400 - 28 14.43.420 and scholarships under AS 14.43.810 - 14.43.849. The commissioner shall 29 also report as available for appropriation a running total of amounts previously 30 identified as available for appropriation to the AlaskAdvantage education grant and 31 Alaska performance scholarship award fund but not appropriated.
01 Sec. 37.14.790. Definitions. In AS 37.14.750 - 37.14.790, unless the context 02 requires otherwise, 03 (1) "commissioner" means the commissioner of revenue; 04 (2) "fund" means the AlaskAdvantage education grant and Alaska 05 performance scholarship investment fund established in AS 37.14.750(a). 06 * Sec. 15. AS 43.20.014(a) is amended to read: 07 (a) A taxpayer is allowed a credit against the tax due under this chapter for 08 cash contributions accepted 09 (1) for direct instruction, research, and educational support purposes, 10 including library and museum acquisitions, and contributions to endowment, by an 11 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 12 four-year college accredited by a regional accreditation association; 13 (2) for secondary school level vocational education courses, programs, 14 and facilities by a school district in the state; 15 (3) for vocational education courses, programs, and facilities by a 16 state-operated vocational technical education and training school; [AND] 17 (4) for a facility by a nonprofit, public or private, Alaska two-year or 18 four-year college accredited by a regional accreditation association; 19 (5) for the AlaskAdvantage education grant and Alaska 20 performance scholarship investment fund under AS 37.14.750(a); and 21 (6) for education, research, rehabilitation, and facilities by an 22 institution that is located in the state and that qualifies as a coastal ecosystem 23 learning center under the Coastal America Partnership established by the federal 24 government. 25 * Sec. 16. AS 43.55.019(a) is amended to read: 26 (a) A producer of oil or gas is allowed a credit against the tax due under this 27 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, programs, 02 and facilities by a school district in the state; 03 (3) for vocational education courses, programs, and facilities by a 04 state-operated vocational technical education and training school; [AND] 05 (4) for a facility by a nonprofit, public or private, Alaska two-year or 06 four-year college accredited by a regional accreditation association; 07 (5) for the Alaska performance scholarship investment fund under 08 AS 37.14.750(a); and 09 (6) for education, research, rehabilitation, and facilities by an 10 institution that is located in the state and that qualifies as a coastal ecosystem 11 learning center under the Coastal America Partnership established by the federal 12 government. 13 * Sec. 17. AS 43.56.018(a) is amended to read: 14 (a) The owner of property taxable under this chapter is allowed a credit 15 against the tax due under this 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, programs, 21 and facilities by a school district in the state; 22 (3) for vocational education courses, programs, and facilities by a 23 state-operated vocational technical education and training school; [AND] 24 (4) for a facility by a nonprofit, public or private, Alaska two-year or 25 four-year college accredited by a regional accreditation association; 26 (5) for the Alaska performance scholarship investment fund under 27 AS 37.14.750(a); and 28 (6) for education, research, rehabilitation, and facilities by an 29 institution that is located in the state and that qualifies as a coastal ecosystem 30 learning center under the Coastal America Partnership established by the federal 31 government.
01 * Sec. 18. 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 04 (1) for direct instruction, research, and educational support purposes, 05 including library and museum acquisitions, and contributions to endowment, by an 06 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 07 four-year college accredited by a regional accreditation association; 08 (2) for secondary school level vocational education courses, programs, 09 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; [AND] 12 (4) for a facility by a nonprofit, public or private, Alaska two-year or 13 four-year college accredited by a regional accreditation association; 14 (5) for the Alaska performance scholarship investment fund under 15 AS 37.14.750(a); and 16 (6) for education, research, rehabilitation, and facilities by an 17 institution that is located in the state and that qualifies as a coastal ecosystem 18 learning center under the Coastal America Partnership established by the federal 19 government. 20 * Sec. 19. AS 43.75.018(a) is amended to read: 21 (a) A person engaged in a fisheries business is allowed a credit against the tax 22 due under this chapter for cash contributions accepted 23 (1) for direct instruction, research, and educational support purposes, 24 including library and museum acquisitions, and contributions to endowment, by an 25 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 26 four-year college accredited by a regional accreditation association; 27 (2) for secondary school level vocational education courses, programs, 28 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; [AND] 31 (4) for a facility by a nonprofit, public or private, Alaska two-year or
01 four-year college accredited by a regional accreditation association; 02 (5) for the Alaska performance scholarship investment fund under 03 AS 37.14.750(a); and 04 (6) for education, research, rehabilitation, and facilities by an 05 institution that is located in the state and that qualifies as a coastal ecosystem 06 learning center under the Coastal America Partnership established by the federal 07 government. 08 * Sec. 20. AS 43.77.045(a) is amended to read: 09 (a) In addition to the credit allowed under AS 43.77.040, a person engaged in 10 a floating fisheries business is allowed a credit against the tax due under this chapter 11 for cash contributions accepted 12 (1) for direct instruction, research, and educational support purposes, 13 including library and museum acquisitions, and contributions to endowment, by an 14 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 15 four-year college accredited by a regional accreditation association; 16 (2) for secondary school level vocational education courses, programs, 17 and facilities by a school district in the state; 18 (3) for vocational education courses, programs, and facilities by a 19 state-operated vocational technical education and training school; [AND] 20 (4) for a facility by a nonprofit, public or private, Alaska two-year or 21 four-year college accredited by a regional accreditation association; 22 (5) for the Alaska performance scholarship investment fund under 23 AS 37.14.750(a); and 24 (6) for education, research, rehabilitation, and facilities by an 25 institution that is located in the state and that qualifies as a coastal ecosystem 26 learning center under the Coastal America Partnership established by the federal 27 government. 28 * Sec. 21. Section 8, ch. 14, SLA 2010, is amended to read: 29 TRANSITION: SCHOLARSHIP [PROGRAM] STANDARDS AND 30 IMPLEMENTATION FOR INITIAL SCHOOL YEARS. Notwithstanding any 31 contrary provision of this Act, the Department of Education and Early Development
01 and the Department of Labor and Workforce Development, after consultation with the 02 Alaska Commission on Postsecondary Education, may adopt regulations under 03 AS 44.62 (Administrative Procedure Act) to implement their respective duties under 04 the Alaska performance [MERIT] scholarship program established in AS 14.43.810, 05 enacted by sec. 5 of this Act, so that a student 06 (1) may be eligible for the Alaska performance scholarship 07 [PROGRAM] even though the student did not fully meet the required core academic 08 curriculum for the school years beginning July 1, 2010, through June 30, 2014; and 09 (2) who graduated from high school in this state after January 1, 2011, 10 and before July 1, 2011, and meets eligibility requirements for the Alaska 11 performance scholarship [PROGRAM] may apply for a scholarship on or after 12 January 1, 2011, for enrollment in a program of study beginning on or after July 1, 13 2011. 14 * Sec. 22. AS 21.96.070(a)(5), 21.96.070(a)(6); AS 43.20.014(a)(5), 43.20.014(a)(6); 15 AS 43.55.019(a)(5), 43.55.019(a)(6); AS 43.56.018(a)(5), 43.56.018(a)(6); 16 AS 43.65.018(a)(5), 43.65.018(a)(6); AS 43.75.018(a)(5), 43.75.018(a)(6); 17 AS 43.77.045(a)(5), and 43.77.045(a)(6) are repealed January 1, 2021. 18 * Sec. 23. Section 28, ch. 134, SLA 1992, is repealed. 19 * Sec. 24. The uncodified law of the State of Alaska is amended by adding a new section to 20 read: 21 TRANSITION: ALASKADVANTAGE EDUCATION GRANT AND ALASKA 22 PERFORMANCE SCHOLARSHIP INVESTMENT FUND. (a) The unobligated balance of 23 the Alaska capital income fund established under AS 37.05.565 shall be transferred to the 24 AlaskAdvantage education grant and Alaska performance scholarship investment fund 25 established under AS 37.14.750 on June 30, 2011. 26 (b) Notwithstanding the required calculation to be made by the commissioner of 27 revenue under AS 37.14.760, enacted by sec. 14 of this Act, for fiscal years 2013 and 2014, as 28 soon as practicable after July 1 of each year, the commissioner of revenue shall determine the 29 average month-end market value of the AlaskAdvantage education grant and Alaska 30 performance scholarship investment fund established under AS 37.14.750, enacted by sec. 14 31 of this Act, for the immediately preceding fiscal year and identify five percent of that amount
01 as available for appropriation by the legislature to the AlaskAdvantage education grant and 02 Alaska performance scholarship award fund created under AS 14.43.915. 03 * Sec. 25. The uncodified law of the State of Alaska is amended by adding a new section to 04 read: 05 TRANSITION: REGULATIONS. The Department of Education and Early 06 Development, the Department of Labor and Workforce Development, the Department of 07 Revenue, and the Alaska Commission on Postsecondary Education may adopt regulations 08 necessary to implement changes made to their respective authorities by this Act. The 09 regulations take effect under AS 44.62 (Administrative Procedure Act), but not before July 1, 10 2011. 11 * Sec. 26. The uncodified law of the State of Alaska is amended by adding a new section to 12 read: 13 REVISOR'S INSTRUCTION. The revisor of statutes is instructed to change the 14 heading of 15 (1) Article 12 of AS 14.43 from "Alaska Merit Scholarship Program" to 16 "Alaska Performance Scholarship"; 17 (2) AS 14.43.820 from "Alaska merit scholarship program; eligibility" to 18 "Alaska performance scholarship; eligibility." 19 * Sec. 27. Section 57, ch. 92, SLA 2010, is amended to read: 20 Sec. 57. Except as provided in sec. 56 of this Act, this Act takes effect 21 January 1, 2021 [2014]. 22 * Sec. 28. The uncodified law of the State of Alaska is amended by adding a new section to 23 read: 24 RETROACTIVITY. If sec. 24(a) of this Act takes effect after June 30, 2011, sec. 25 24(a) of this Act is retroactive to June 30, 2011. 26 * Sec. 29. Sections 24, 25, and 28 of this Act take effect immediately under 27 AS 01.10.070(c). 28 * Sec. 30. AS 14.43.830(a)(2) and (3) take effect July 1, 2012. 29 * Sec. 31. Except as provided in secs. 29 and 30 of this Act, this Act takes effect July 1, 30 2011.