SSSB 182: "An Act establishing a power cost equalization endowment; and providing for an effective date."
00SPONSOR SUBSTITUTE FOR SENATE BILL NO. 182 01 "An Act establishing a power cost equalization endowment; and providing for an 02 effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 37.14 is amended by adding a new section to read: 05 Sec. 37.14.550. Power cost equalization endowment. (a) The power cost 06 equalization endowment is established as a separate endowment trust of the state. The 07 endowment consists of money appropriated to the endowment to support the power 08 cost equalization program established and operated under AS 42.45.100 - 42.45.190. 09 (b) The endowment shall be held and invested by the Alaska Permanent Fund 10 Corporation subject to AS 37.13.120. Net income from the endowment may not be 11 included in the computation of net income available for distribution under 12 AS 37.13.140. 13 (c) The legislature may appropriate interest earned on money in the 14 endowment and capital gains realized on the investment of the endowment to the
01 power cost equalization and rural electric capitalization fund established in 02 AS 42.45.100 for power cost equalization under AS 42.45.100 - 42.45.190. 03 (d) Nothing in this section creates a dedicated fund. 04 * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).