00SENATE BILL NO. 142                                                                                                     
01 "An Act relating to the Alaska regional economic assistance program; and                                                
02 providing for an effective date."                                                                                       
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 44.33.026(c) is amended to read:                                                                    
05  (c)  To qualify for a grant, a regional development organization must match the                                       
06 grant by providing an amount of money from nonstate sources for the project.  The                                      
07 department shall establish by regulation a formula that determines the amount                                           
08 of the match required under this subsection based upon the capability of each                                           
09 organization to generate money from nonstate sources.  The amount of match                                              
10 required may not exceed [THAT EQUALS] the amount of grant money to be used                                             
11 for the project.  The total amount of grant money provided to an organization during                                
12 a fiscal year may not exceed $100,000 [$50,000].                                                                      
13    * Sec. 2.  This Act takes effect July 1, 1993.