00                    HOUSE CS FOR SENATE BILL NO. 146(FIN)                                                                
01 "An Act relating to the regional educational attendance area and small municipal school                                 
02 district fund; and relating to Mt. Edgecumbe High School."                                                              
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 14.11.025(a) is amended to read:                                                                   
05            (a)  In addition to other appropriations and funding sources, the department                                 
06       may make disbursements [PROVIDE GRANT FUNDING] from the fund                                                  
07       established under AS 14.11.030 to                                                                                 
08                 (1)  provide grant funding to a school district that is a regional                                  
09       educational attendance area or a small municipal school district; and                                         
10                 (2)  fund construction and major maintenance projects at Mt.                                        
11       Edgecumbe High School.                                                                                        
12    * Sec. 2. AS 14.11.030(a) is amended to read:                                                                      
13            (a)  The regional educational attendance area and small municipal school                                     
14       district school fund is created as an account in the general fund to be used, in addition                         
01 to other funding sources, to fund projects approved under AS 14.11.025 for the costs                                    
02 of school construction and major maintenance in regional educational attendance                                         
03 areas, in [AND] small municipal school districts, and at Mt. Edgecumbe High                                     
04       School. The primary function of the fund is to fund school construction projects.                             
05    * Sec. 3. AS 14.11.030(b) is amended to read:                                                                      
06 (b)  Legislative appropriations, including appropriations of interest earned on                                         
07 the fund, shall be deposited in the fund established under this section. [THE                                           
08 UNOBLIGATED AND UNEXPENDED CASH BALANCE OF THE FUND MAY                                                                 
09       NOT EXCEED $70,000,000.]