00SPONSOR SUBSTITUTE FOR SENATE BILL NO. 278                                                                            
01 "An Act making a special appropriation to the principal of the permanent fund;                                          
02 and providing for an effective date."                                                                                   
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  Except for $350,000,000 and the amount authorized under AS 37.13.145(b)                              
05 for transfer to the dividend fund at the end of fiscal year 1998, an amount equal to the                                
06 unappropriated balance of the earnings reserve account (AS 37.13.145) on June 30, 1998, is                              
07 appropriated from the earnings reserve account to the principal of the permanent fund.                                  
08    * Sec. 2.  This Act takes effect June 30, 1998.