00                            HOUSE BILL NO. 469                                                                          
01 "An Act relating to deposits to the Alaska permanent fund from mineral lease rentals,                                   
02 royalties, royalty sale proceeds, net profit shares under AS 38.05.180(f) and (g), federal                              
03 mineral revenue sharing payments received by the state from mineral leases, and                                         
04 bonuses received by the state from mineral leases, and increasing deposits from certain                                 
05 of those sources."                                                                                                      
06 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
07    * Section 1.  AS 37.05.550(b) is amended to read:                                                                  
08            (b)  The legislature may appropriate to the fund money received by the state as                              
09       Alaska marine highway system program receipts or from a settlement or final judicial                              
10       determination of the Dinkum Sands case (United States v. Alaska) and the North                                    
11       Slope royalty case (State v. Amerada Hess, et al.) and not deposited into the Alaska                              
12       permanent fund under AS 37.13.010(a)(1) or (2) or into the public school trust fund                           
13       under AS 37.14.150.                                                                                               

01    * Sec. 2.  AS 37.13.010(a) is amended to read:                                                                     
02            (a)  Under art. IX, sec. 15, of the state constitution, there is established as a                            
03       separate fund the Alaska permanent fund. The Alaska permanent fund consists of                                    
04                 (1)  25 percent of all mineral lease rentals, royalties, royalty sale                                   
05       proceeds, net profit shares under AS 38.05.180(f) and (g), and [25 PERCENT OF]                                
06       federal mineral revenue sharing payments received by the state from mineral leases                                
07       issued on or before December 1, 1979, and 25 percent of all bonuses received by the                           
08       state from mineral leases issued on or before February 15, 1980;                                              
09                 (2)  50 percent of all mineral lease rentals, royalties, royalty sale                               
10       proceeds, net profit shares under AS 38.05.180(f) and (g), and federal mineral                                
11       revenue sharing payments received by the state from mineral leases issued after                               
12       December 1, 1979, and 50 percent of all bonuses received by the state from                                    
13       mineral leases issued after February 15, 1980;                                                                
14                 (3)  any other money appropriated to or otherwise allocated by law or                               
15       former law to the Alaska permanent fund.                                                                          
16    * Sec. 3.  Sections 2, 4, and 5, ch. 22, SLA 2003, are repealed.