00SENATE BILL NO. 177                                                                                                     
01 "An Act relating to the international trade and business endowment; and                                                 
02 providing for an effective date."                                                                                       
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 37.17 is amended by adding a new section to read:                                                   
05 Article 4. Miscellaneous.                                                                                               
06  Sec. 37.17.440.  International trade and business endowment.  (a)  The                                                
07 international trade and business endowment is established in the Alaska Science and                                     
08 Technology Foundation.  The endowment consists of money appropriated to the                                             
09 endowment.  Income earned by the endowment may be appropriated to support                                               
10 programs for the development of international trade and business in the state.                                          
11  (b)  The principal and income of the endowment shall be held and invested by                                          
12 the Alaska Permanent Fund Corporation subject to AS 37.13.120; however, net income                                      
13 from the endowment and subsequent income earned on net income from the                                                  
14 endowment shall be held in a separate account until appropriated by the legislature.                                    

01 Net income from the endowment may not be included in the computation of net                                             
02 income available for distribution under AS 37.13.140.                                                                   
03  (c)  Appropriations made to the endowment do not lapse unless otherwise                                               
04 provided by the legislature in the act in which the appropriation is made.                                              
05    * Sec. 2.  AS 37.17.010(b) is amended to read:                                                                       
06  (b)  The purposes of the foundation are to                                                                            
07   (1)  promote and enhance, through basic and applied research and the                                                 
08 development and commercialization of technology,                                                                        
09   (A)  economic development and technological innovation in                                                           
10 Alaska;                                                                                                                 
11   (B)  public health;                                                                                                 
12   (C)  telecommunications; and                                                                                        
13   (D)  sustained growth and development of Alaskan scientific and                                                     
14 engineering capabilities;                                                                                               
15   (2)  implement the BIDCO assistance program under AS 37.17.200 -                                                     
16 37.17.390;                                                                                                             
17   (3)  administer the international trade and business endowment                                                       
18 under AS 37.17.440.                                                                                                    
19    * Sec. 3.  This Act takes effect immediately under AS 01.10.070(c).