00                     CS FOR HOUSE BILL NO. 375(W&M)                                                                     
01 "An Act relating to the retirement benefit liability account and appropriations from that                               
02 account; and providing for an effective date."                                                                          
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 37.10 is amended by adding a new section to read:                                                  
05                Article 4A. Retirement Benefit Liability Account.                                                      
06            Sec. 37.10.200. Retirement benefit liability account. (a) The retirement                                   
07       benefit liability account is created in the Department of Revenue.                                                
08            (b)  Money in the retirement benefit liability account may be appropriated to                                
09       the state and political subdivisions of the state, including regional educational                                 
10       attendance areas, for employer contributions to pay past service liabilities of the public                        
11       employees' retirement system and the teachers' retirement system. Income earned on                                
12       money in the account may be appropriated to the account.                                                          
13            (c)  Nothing in this section dedicates funds for a specific purpose.                                         
14            (d)  In this section, "employer contribution" means a contribution described in                              

01       AS 14.25.070(a) and AS 39.35.270(a).                                                                              
02    * Sec. 2. This Act takes effect July 1, 2006.