HB 551: "An Act relating to the lapse of unexpended balances of one-year appropriations; and providing for an effective date."
00HOUSE BILL NO. 551 01 "An Act relating to the lapse of unexpended balances of one-year appropriations; 02 and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 37.25.010(a) is amended to read: 05 (a) The unexpended balance of a one-year appropriation authorized in an 06 appropriation bill lapses on June 30 of the fiscal year for which appropriated. 07 However, the amount needed to pay for goods or services received by the state on 08 or before June 30 of the fiscal year for which appropriated shall be carried 09 forward until [A VALID OBLIGATION (ENCUMBRANCE) EXISTING ON 10 JUNE 30 IS AUTOMATICALLY REAPPROPRIATED FOR THE FISCAL YEAR 11 BEGINNING ON THE SUCCEEDING JULY 1 IF IT IS RECORDED WITH THE 12 DEPARTMENT OF ADMINISTRATION BY] August 31 of the immediately 13 succeeding fiscal year. The balance of the amount carried forward under this 14 subsection and not expended on or before August 31 to pay for the goods or