00                            HOUSE BILL NO. 141                                                                          
01 "An Act making a special appropriation from the budget reserve fund under art. IX,                                      
02 sec. 17(c), Constitution of the State of Alaska, to the dividend fund for 2003 permanent                                
03 fund dividends; and providing for an effective date."                                                                   
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1.  The appropriation made in this section is made under art. IX, sec. 17(c),                            
06 Constitution of the State of Alaska.  The amount calculated as follows is appropriated from                             
07 the budget reserve fund (art. IX, sec. 17, Constitution of the State of Alaska) to the dividend                         
08 fund (AS 43.23.045) for payment of 2003 permanent fund dividends:                                                       
09            (1)  calculate 21 percent of the net income of the Alaska permanent fund                                     
10 determined under AS 37.13.140 for the last five fiscal years, including fiscal year 2003;                               
11            (2)  divide the amount obtained under (1) of this section by two;                                            
12            (3)  subtract from the amount obtained under (2) of this section the amount                                  
13 transferred under AS 37.13.145(b) for 2003 permanent fund dividends.                                                    
14    * Sec. 2.  This Act takes effect September 1, 2003.