CSHB 190(HSS): "An Act amending the Alaska children's trust."
00 CS FOR HOUSE BILL NO. 190(HSS) 01 "An Act amending the Alaska children's trust." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 37.14.200 is amended by adding a new subsection to read: 04 (d) The legislature may appropriate annually an amount that is equivalent to 05 five percent of the average of the market values of the trust income and principal on 06 June 30 for the first five of the six fiscal years immediately preceding that fiscal year, 07 taking into account administrative expenses, as a grant to a named recipient under 08 AS 37.05.316 subject to terms and conditions set by the board under AS 37.14.250. 09 * Sec. 2. AS 37.14.225 is amended to read: 10 Sec. 37.14.225. Trust board established. The Alaska Children's Trust Board 11 is established in the Office of the Governor. The board is composed of 12 (1) the governor or a designee of the governor; 13 (2) the commissioner of health and social services or the 14 commissioner's designee; 15 (3) the commissioner of education and early development or the
01 commissioner's designee; [AND] 02 (4) four public members appointed by the governor [; IN 03 APPOINTING THE PUBLIC MEMBERS, THE GOVERNOR SHALL GIVE A 04 PREFERENCE TO PERSONS] who have experience and expertise in 05 (A) children's or prevention programs; [OR] 06 (B) private sector finance; 07 (C) sexual assault; or 08 (D) domestic violence; and. 09 (5) one nonvoting member appointed by the speaker of the house 10 of representatives; 11 (6) one nonvoting member appointed by the president of the 12 senate. 13 * Sec. 3. AS 37.14.230 is amended to read: 14 Sec. 37.14.230. Powers and duties of the board. The [WHEN ACTING AS 15 ADMINISTRATOR OF THE TRUST, THE] board shall 16 (1) hold regular and special meetings it considers necessary; the board 17 may hold meetings by teleconference; 18 (2) award a grant to a named recipient in an amount that is 19 appropriated under AS 37.14.200(d) under conditions [GRANTS FROM THE 20 NET INCOME OF THE TRUST TO COMMUNITY-BASED PROGRAMS AND 21 PROJECTS] that the board finds will aid in the prevention of child abuse and neglect; 22 (3) monitor approved subgrants made by the named recipient 23 [PROGRAMS AND PROJECTS] for compliance with AS 37.14.200 - 37.14.270 and 24 specified grant conditions; 25 (4) [BEFORE PROVIDING ASSISTANCE TO A PROGRAM OR 26 PROJECT,] approve written findings of the named recipient on the subgrant 27 program or project that include a consideration of the means of measuring the 28 effectiveness of the program or project; 29 (5) apply for, and use net income from the trust to obtain, private and 30 federal grants for the prevention of child abuse and neglect; 31 (6) solicit contributions, gifts, and bequests to the trust;
01 (7) keep audio tape recordings of each meeting of the board to be made 02 available on request; and 03 (8) submit to the governor and make available to the legislature by 04 February 1 each year a report describing 05 (A) the child abuse and neglect prevention services that were 06 provided by the programs and projects to which the named recipient 07 [BOARD] awarded grants; and 08 (B) the annual level of contributions, income, and expenses of 09 the trust. 10 * Sec. 4. AS 37.14.240 is repealed and reenacted to read: 11 Sec. 37.14.240. Fund utilization. (a) Five percent of the market value of the 12 unencumbered balance of the trust income and principal may be appropriated for 13 awarding a named recipient grant by the board under AS 37.14.250. 14 (b) Up to $150,000 a year may be appropriated from the unencumbered 15 balance of the trust income and principal for the administrative expenses of the board 16 relating to AS 37.14.200 - 37.14.270, including obtaining private and federal grants 17 for the trust and soliciting contributions, gifts, and bequests for the trust. 18 * Sec. 5. AS 37.14.250 is repealed and reenacted to read: 19 Sec. 37.14.250. Named recipient grant. (a) A named recipient grant may only 20 be awarded to a nonprofit entity that is established for the purpose of enhancing the 21 mission of the Alaska Children's Trust and raising funds for the prevention of child 22 abuse and neglect. 23 (b) Before a grant to a named recipient is awarded or renewed by the board, 24 the Department of Commerce, Community, and Economic Development shall prepare 25 and execute an agreement under AS 37.05.316(a) with the named recipient that 26 describes grant conditions that include the following: 27 (1) a portion of the Alaska children's trust grant may be held in and 28 managed as a permanent endowment fund; 29 (2) the grantee may maintain a reserve to finance grants and grant 30 administration operations at a consistent level from year to year; 31 (3) the grantee may provide for the distribution of amounts from the
01 interest on an endowment fund established under (1) of this subsection for the 02 charitable purpose of preventing child abuse and neglect; and 03 (4) the grantee shall annually report the investment performance of an 04 endowment established under (1) of this subsection to the board.