CSHB 322(TRA) am: "An Act relating to the Alaska marine highway system fund; relating to the Alaska marine highway system vessel replacement fund; relating to the Alaska higher education investment fund; and providing for an effective date."
00 CS FOR HOUSE BILL NO. 322(TRA) am 01 "An Act relating to the Alaska marine highway system fund; relating to the Alaska 02 marine highway system vessel replacement fund; relating to the Alaska higher education 03 investment fund; and providing for an effective date." 04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 05 * Section 1. AS 19.65.060(a) is amended to read: 06 (a) The [THERE IS CREATED, AS A SPECIAL ACCOUNT IN THE 07 GENERAL FUND, THE] Alaska marine highway system fund is established as a 08 separate fund in the state treasury, into which shall be deposited 09 (1) the gross revenue of the Alaska marine highway system; 10 (2) money that is appropriated to the Alaska marine highway system 11 fund by the legislature in an amount that is consistent from year to year and is the 12 amount necessary, after consideration of gross revenue, to provide stable services to 13 the public consistent with the provisions of AS 19.65.050(b)(4), which appropriations 14 are not one-year appropriations and the balances of which do not lapse under
01 AS 37.25.010; and 02 (3) any other money that is appropriated to the Alaska marine highway 03 system fund by the legislature, which appropriations are not one-year appropriations 04 and the balances of which do not lapse under AS 37.25.010. 05 * Sec. 2. AS 37.05.550(a) is amended to read: 06 (a) The [THERE IS IN THE GENERAL FUND THE] Alaska marine 07 highway system vessel replacement fund is established as a separate fund in the 08 state treasury. The fund consists of money appropriated to it by the legislature. 09 Money appropriated to the fund does not lapse. The Department of Revenue shall 10 manage the fund. Interest received on money in the fund shall be accounted for 11 separately and may be appropriated into the fund annually. The legislature may 12 appropriate money from the fund for refurbishment of existing state ferry vessels, 13 acquisition of additional state ferry vessels, or replacement of retired or outmoded 14 state ferry vessels. 15 * Sec. 3. AS 37.14.750(a) is amended to read: 16 (a) The Alaska higher education investment fund is established as a separate 17 fund in the state treasury [GENERAL FUND] for the purpose of making grants 18 awarded under AS 14.43.400 - 14.43.420 by appropriation to the account established 19 under AS 14.43.915(a), [AND OF] making scholarship payments to qualified 20 postsecondary institutions for students under AS 14.43.810 - 14.43.849 by 21 appropriation to the account established under AS 14.43.915(b), and funding 22 agreements for medical education under AS 14.42.033. Money in the fund does not 23 lapse. The fund consists of 24 (1) money appropriated to the fund; 25 (2) income earned on investment of fund assets; 26 (3) donations to the fund; and 27 (4) money redeposited under AS 14.43.915(c). 28 * Sec. 4. This Act takes effect June 30, 2022.