CSHB 447(FIN) AM: "An Act making appropriations relating to power cost equalization and the sale of the four dam pool hydroelectric project and to capitalize funds; making appropriations under art. IX, sec. 17(c), Constitution of the State of Alaska, from the constitutional budget reserve fund; and providing for an effective date."
00CS FOR HOUSE BILL NO. 447(FIN) am 01 "An Act making appropriations relating to power cost equalization and the sale 02 of the four dam pool hydroelectric project and to capitalize funds; making 03 appropriations under art. IX, sec. 17(c), Constitution of the State of Alaska, 04 from the constitutional budget reserve fund; and providing for an effective date." 05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 06 * Section 1. (a) The appropriations made in secs. 4 and 5, ch. 19, SLA 1993, lapse into 07 the Railbelt energy fund (AS 37.05.520). 08 (b) The sum of $100,000,000 is appropriated from the constitutional budget reserve 09 fund to the power cost equalization endowment fund (AS 42.45.070). 10 (c) The sum of $500,000 is appropriated from the constitutional budget reserve fund 11 to the Alaska Energy Authority to cover the costs of 12 (1) completing the sale of the four dam pool hydroelectric project under the 13 memorandum of understanding dated April 11, 2000; and 14 (2) the Department of Revenue in establishing and managing the power cost
01 equalization endowment fund (AS 42.45.070) for the fiscal year ending June 30, 2001. 02 (d) The unexpended and unobligated balance of the appropriation made by (c) of this 03 section on the 180th day after the earlier of the closing date of the sale of the four dam pool 04 hydroelectric project under the memorandum of understanding dated April 11, 2000, or the 05 termination of the memorandum of understanding dated April 11, 2000, is reappropriated to 06 the power cost equalization endowment fund (AS 42.45.070). 07 * Sec. 2. An amount equal to the proceeds from the sale of the four dam pool hydroelectric 08 project and from the repayment of the Southeast intertie credit under the memorandum of 09 understanding dated April 11, 2000, to be paid to the state by the joint action agency to be 10 formed by the purchasing utilities, is appropriated from corporate receipts of the Alaska 11 Energy Authority to the power cost equalization endowment fund (AS 42.45.070). 12 * Sec. 3. The unexpended and unobligated balance of the four dam pool state insurance 13 fund held by the Alaska Energy Authority and to be released under the memorandum of 14 understanding dated April 11, 2000, is appropriated upon its release to the power cost 15 equalization endowment fund (AS 42.45.070). 16 * Sec. 4. (a) An amount equal to the payments for the sale of power, to be made to the 17 state by the purchasing utilities under the memorandum of understanding dated April 11, 2000, 18 received by June 30, 2001, is appropriated from corporate receipts of the Alaska Energy 19 Authority to the power cost equalization and rural electric capitalization fund (AS 42.45.100). 20 (b) An amount equal to the payments for the sale of power, to be made to the state 21 by the purchasing utilities under the memorandum of understanding dated April 11, 2000, 22 received after June 30, 2001, is appropriated from corporate receipts of the Alaska Energy 23 Authority to the power cost equalization endowment fund (AS 42.45.070). 24 * Sec. 5. DEFINITION FOR THE APPROPRIATIONS MADE BY THIS ACT. In this 25 Act, "memorandum of understanding dated April 11, 2000" means the memorandum of 26 understanding dated April 11, 2000, between the Alaska Energy Authority and Copper Valley 27 Electric Association, Inc., City of Ketchikan, Kodiak Electric Association, Inc., City of 28 Petersburg, and City of Wrangell, the purchasing utilities, for the purchase and sale of the four 29 dam pool hydroelectric project and any amendment to that agreement that substitutes 30 appropriations of $20,000,000 from the state constitutional budget reserve fund established 31 under art. IX, sec. 17, Constitution of the State of Alaska for appropriations from the power
01 project fund (AS 42.45.010). 02 * Sec. 6. CONSTITUTIONAL BUDGET RESERVE FUND. The appropriations made in 03 sec. 1(b) and 1(c) of this Act are made under art. IX, sec. 17(c), Constitution of the State of 04 Alaska. 05 * Sec. 7. LAPSE PROVISION. The appropriations made by secs. 1(b), 1(d), and 2 - 4 of 06 this Act are for the capitalization of funds and do not lapse. 07 * Sec. 8. CONDITIONAL EFFECTIVE DATE. This Act takes effect only if the Twenty- 08 First Alaska State Legislature passes legislation that is enacted into law establishing and 09 relating to the power cost equalization endowment fund, relating to the power cost 10 equalization and rural electric capitalization fund, authorizing and relating to the sale of the 11 four dam pool hydroelectric project, and establishing and relating to joint action agencies 12 created to purchase power projects. 13 * Sec. 9. If this Act takes effect, it takes effect on the earliest effective date of any section 14 of the Act described in sec. 8 of this Act.