00                       CS FOR SENATE BILL NO. 35(STA)                                                                    
01 "An Act making an appropriation to the public education fund; making an                                                 
02 appropriation to the earnings reserve account of the Alaska permanent fund; making an                                   
03 appropriation to the Alaska Housing Finance Corporation; making an appropriation to                                     
04 the constitutional budget reserve fund; and providing for an effective date."                                           
05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
06    * Section 1. PUBLIC EDUCATION FUND. The sum of $250,000,000 is appropriated to                                   
07 the public education fund (AS 14.17.300) from the general fund available after all other                                
08 appropriations for the fiscal year ending June 30, 2007, are accounted for, but before the                              
09 deposit required under art. IX, sec. 17(d), Constitution of the State of Alaska, is made.                               
10    * Sec. 2. EARNINGS RESERVE ACCOUNT. The sum of $250,000,000 is appropriated to                                   
11 the earnings reserve account of the Alaska permanent fund (art. IX, sec. 15, Constitution of                            
12 the State of Alaska) from the general fund available after all other appropriations for the fiscal                      
13 year ending June 30, 2007, are accounted for, but before the deposit required under art. IX,                            
14 sec. 17(d), Constitution of the State of Alaska, is made.                                                               
01    * Sec. 3. ALASKA HOUSING FINANCE CORPORATION. The sum of $250,000,000 is                                         
02 appropriated to the Alaska Housing Finance Corporation for the purpose of funding capital                               
03 projects, including financing expenses, from the general fund available after all other                                 
04 appropriations for the fiscal year ending June 30, 2007, are accounted for, but before the                              
05 deposit required under art. IX, sec. 17(d), Constitution of the State of Alaska, is made. It is the                     
06 intent of the legislature that the Alaska Housing Finance Corporation may transfer this money                           
07 and the earnings to a subsidiary of the Alaska Housing Finance Corporation on or after July 1,                          
08 2007, under AS 18.56.086.                                                                                               
09    * Sec. 4. BUDGET RESERVE FUND. The sum of $250,000,000 is appropriated to the                                    
10 budget reserve fund (art. IX, sec. 17, Constitution of the State of Alaska) from the general                            
11 fund available after all other appropriations for the fiscal year ending June 30, 2007, are                             
12 accounted for, but before the deposit required under art. IX, sec. 17(d), Constitution of the                           
13 State of Alaska, is made.                                                                                               
14    * Sec. 5. If the amount of money in the general fund available to make the appropriations                          
15 under secs. 1 - 4 of this Act is less than $1,000,000,000 on June 30, 2007, the appropriations                          
16 made in secs. 1 - 4 of this Act shall be reduced in proportion to the amount of the shortfall.                          
17    * Sec. 6. This Act takes effect June 30, 2007.