Enrolled HB 104: Renaming the Alaska performance scholarship and relating to the scholarship and tax credits applicable to contributions to the scholarship; relating to AlaskAdvantage education grant funding and to Alaska performance scholarship funding; relating to AlaskAdvantage education grant eligibility; establishing accounts and a fund for those purposes; making conforming amendments; and providing for an effective date.
00Enrolled HB 104 01 Renaming the Alaska performance scholarship and relating to the scholarship and tax credits 02 applicable to contributions to the scholarship; relating to AlaskAdvantage education grant 03 funding and to Alaska performance scholarship funding; relating to AlaskAdvantage 04 education grant eligibility; establishing accounts and a fund for those purposes; making 05 conforming amendments; and providing for an effective date. 06 _______________ 07 * Section 1. AS 14.03.113 is amended to read: 08 Sec. 14.03.113. District determination of scholarship eligibility. A school 09 district shall determine whether a student who graduates from a high school in the 10 district is eligible for an award of an Alaska performance [MERIT SCHOLARSHIP 11 PROGRAM] scholarship under AS 14.43.810 - 14.43.849. If a student is eligible, the 12 district shall state in the student's permanent record the highest level of funding for
01 which the student is eligible. A district shall provide a student with an opportunity to 02 request that the district correct an error in the eligibility determination. 03 * Sec. 2. AS 14.43.415(a) is amended to read: 04 (a) For an applicant to be eligible for a grant under AS 14.43.400 - 14.43.420, 05 the applicant must be 06 (1) a resident of this state; 07 (2) enrolled or about to be enrolled 08 (A) at an institution located in the state that is 09 (i) accredited by an institutional accrediting body 10 recognized by the United States Secretary of Education; or 11 (ii) approved to participate in the Alaska 12 performance scholarship program as a qualified postsecondary 13 institution under AS 14.43.830 [APPROVED TO PARTICIPATE IN 14 FEDERAL FINANCIAL AID PROGRAMS UNDER 20 U.S.C. 1070 - 15 1099c-2, AS AMENDED, LOCATED IN THIS STATE]; and 16 (B) on at least a half-time basis; and 17 (3) able to demonstrate financial need in accordance with standards for 18 determining financial need established by the commission [UNDER 20 U.S.C. 1070c- 19 2, AS AMENDED]. 20 * Sec. 3. AS 14.43.810 is amended to read: 21 Sec. 14.43.810. Alaska performance [MERIT] scholarship program 22 established; regulations. (a) The Alaska performance [MERIT] scholarship program 23 is established to provide scholarships for high school graduates who are Alaska 24 residents to attend a qualified postsecondary institution in the state. 25 (b) The department shall, in consultation with the commission, adopt 26 regulations necessary to implement the Alaska performance scholarship program. 27 The commission shall administer the daily operations of the Alaska performance 28 scholarship program and financing of the Alaska performance scholarship program, 29 including the procedures for applying for the scholarships, establishing standards for 30 and ensuring continuing compliance with programmatic standards, and requiring 31 students to apply for other nonloan financial aid, consistent with federal law.
01 * Sec. 4. AS 14.43.820(a) is amended to read: 02 (a) Subject to appropriation, the commission shall award an Alaska 03 performance [MERIT SCHOLARSHIP PROGRAM] scholarship to an applicant who 04 (1) is a resident of the state as defined in AS 01.10.055; 05 (2) graduated or will graduate within six months from a high school in 06 the state; 07 (3) except as provided in (c) of this section, has completed a core 08 academic curriculum of [IN] high school level coursework that includes 09 (A) four years of mathematics, four years of language arts, four 10 years of science, and four years of social studies, one year of which may 11 include a foreign language, an Alaska Native language, fine arts, or cultural 12 heritage; or 13 (B) three years of mathematics, four years of language arts, 14 three years of science, four years of social studies, and two years of a foreign 15 language or an Alaska Native language; 16 (4) has a minimum grade-point average in high school of 2.5 or higher; 17 the department shall set by regulation minimum requirements based on a substantially 18 similar standard for districts that do not assign grades; 19 (5) has achieved a minimum score on a 20 (A) college entrance examination; or 21 (B) standardized examination designed to measure a student's 22 level of preparedness to make the transition to work, as selected by the 23 department; and 24 (6) is enrolled in good standing in a course of study at a qualified 25 postsecondary institution in this state that is intended to result in the award of a 26 certificate or degree. 27 * Sec. 5. AS 14.43.820 is amended by adding new subsections to read: 28 (c) The commissioner shall waive a portion of the core academic requirements 29 specified under (a)(3) of this section for not more than 24 additional months after a 30 student graduates from a high school in the state to provide an eligible applicant the 31 opportunity to complete the academic requirements at a qualified postsecondary
01 institution using a scholarship awarded under AS 14.43.825(a) or at a public high 02 school in the state with a district sponsorship under (f) of this section if the applicant 03 submits a timely application on a form approved by the commissioner and provides 04 satisfactory proof that the applicant was unable to complete the academic requirements 05 under (a)(3) of this section as a result of circumstances beyond the applicant's control, 06 including 07 (1) illness or disability; 08 (2) a lack of reasonable access to the required coursework at a small or 09 remote high school attended by the applicant in the state; and 10 (3) other circumstances prescribed by regulation adopted by the board. 11 (d) The commissioner shall approve or deny an application for a waiver 12 submitted under (c) of this section within 30 days after receiving the application. 13 (e) An applicant who receives a waiver under (c) of this section, shall, within 14 the time granted for the waiver, provide satisfactory proof to the commissioner of 15 completion of the core academic requirements specified under (a)(3) of this section. 16 (f) Notwithstanding a contrary provision in this title, a school district that 17 agrees to sponsor a student for a waiver under (c) of this section may include a student 18 who has been approved for a waiver under (c) of this section in the student count 19 conducted under AS 14.17.600 as a full-time or part-time student if the student attends 20 a school in the district for the purpose of completing the core academic requirements 21 under (a)(3) of this section. 22 (g) In this section, "district" has the meaning given in AS 14.17.990. 23 * Sec. 6. AS 14.43.825(a) is amended to read: 24 (a) The maximum annual awards for the Alaska performance [MERIT 25 SCHOLARSHIP PROGRAM] scholarships are as follows: 26 (1) the first award level is $4,755 and requires a 27 (A) 3.5 grade-point average or above; and 28 (B) [A] very high minimum score on a college entrance 29 examination; 30 (2) the second award level is $3,566 and requires a 31 (A) 3.0 grade-point average or above; and
01 (B) [A] high minimum score on a college entrance 02 examination; 03 (3) the third award level is $2,378 and requires a 04 (A) 2.5 grade-point average or above; and 05 (B) [A] moderately high minimum score on a college entrance 06 examination. 07 * Sec. 7. AS 14.43.825(b) is amended to read: 08 (b) A student's eligibility for a scholarship terminates six years after the date 09 the student graduates [GRADUATED] from high school unless the student qualifies 10 for an extension of time allowed by the department by regulation. 11 * Sec. 8. AS 14.43.825(f) is repealed and reenacted to read: 12 (f) Payment of a scholarship is subject to appropriation and the availability of 13 funds for expenditure under AS 37.14.750. If insufficient funds are appropriated or 14 available in a fiscal year to pay all eligible scholarships, the commission may not 15 award a scholarship to a new applicant, and the commission shall pay existing awards 16 on a pro rata basis for that fiscal year. 17 * Sec. 9. AS 14.43.830 is amended to read: 18 Sec. 14.43.830. Qualified postsecondary institutions. (a) The following 19 institutions are qualified postsecondary institutions for purposes of awarding an 20 Alaska performance [MERIT SCHOLARSHIP PROGRAM] scholarship: 21 (1) a university or college physically located in the state that [IS] 22 (A) is authorized to operate in the state under AS 14.48.020 or 23 is exempt from authorization under AS 14.48.030(b)(1); [AND] 24 (B) is accredited by a regional or national accreditation 25 association; 26 (C) has an advisory program established for incoming 27 students that provides counseling related to course selection, career 28 choice, and personal challenges; and 29 (D) provides courses and credits that can result in the 30 issuance of a degree or certificate available at the institution within a time 31 frame expected for that degree or certificate;
01 (2) a career and technical school program physically located in the 02 state that meets the standards established in (a)(1)(C) and (D) of this section and 03 that has been included on a list of certified career and technical school programs 04 received from the Department of Labor and Workforce Development; the commission 05 shall publish the list on or before June 30 of the year preceding enrollment. 06 (b) The Department of Labor and Workforce Development shall, in 07 consultation with the Department of Education and Early Development, adopt 08 regulations under AS 44.62 (Administrative Procedure Act) establishing criteria under 09 which the Department of Labor and Workforce Development shall certify career and 10 technical school programs in the state as eligible to participate in the Alaska 11 performance [MERIT] scholarship program. 12 * Sec. 10. AS 14.43.849(4) is amended to read: 13 (4) "program" means the Alaska performance [MERIT] scholarship 14 program established under AS 14.43.810 - 14.43.849; 15 * Sec. 11. AS 14.43 is amended by adding a new section to read: 16 Sec. 14.43.915. AlaskAdvantage education grant account and Alaska 17 performance scholarship award account. (a) The AlaskAdvantage education grant 18 account is created as an account in the general fund. Money may be appropriated to 19 the account from the Alaska higher education investment fund under AS 37.14.750 20 and from other sources. The commission may use the money in the account to pay 21 grants awarded under AS 14.43.400 - 14.43.420. 22 (b) The Alaska performance scholarship award account is created as an 23 account in the general fund. Money may be appropriated to the account from the 24 Alaska higher education investment fund under AS 37.14.750 and from other sources. 25 The commission may use the money in the account to pay scholarships awarded to 26 students under AS 14.43.810 - 14.43.849. 27 (c) Of the total amount available annually to the commission for payment of 28 grants under AS 14.43.400 - 14.43.420 and for payment of scholarships under 29 AS 14.43.810 - 14.43.849, one-third of the combined amount in the accounts 30 established under (a) and (b) of this section shall be available solely for payment of 31 grants awarded under AS 14.43.400 - 14.43.420. The commission shall annually
01 allocate to all qualified applicants for scholarships awarded under AS 14.43.810 - 02 14.43.849 two-thirds of the combined amount in the accounts. If an insufficient 03 number of qualified applicants are awarded grants under AS 14.43.400 - 14.43.420 or 04 scholarships under AS 14.43.810 - 14.43.849, or both, before the end of that fiscal 05 year, the commissioner shall redeposit the remaining funds into the Alaska higher 06 education investment fund established under AS 37.14.750. 07 (d) The commission shall reserve a percentage calculated under this 08 subsection of the total amount available for awards in the accounts established under 09 (a) and (b) of this section each year for award to students who graduate from a school 10 district with an ADM of less than 800 or from a school that was operated by the 11 Alaska State-Operated School System established under former AS 14.08.020. The 12 percentage reserved under this subsection shall be calculated by adding the ADMs of 13 districts with an ADM of less than 800 and the number of students enrolled in a school 14 that was operated by the Alaska State-Operated School System established under 15 former AS 14.08.020 that is located in a district with an ADM of 800 or more and then 16 dividing that number by the sum of the ADMs of all districts in the state. 17 (e) If an insufficient number of applicants apply for the available amount 18 reserved under (d) of this section, the commission shall redeposit the remaining 19 amount in the account from which the funds originated. 20 (f) In this section, 21 (1) "ADM" has the meaning given in AS 14.17.990; 22 (2) "district" has the meaning given in AS 14.17.990, but also includes 23 a state boarding school under AS 14.16. 24 * Sec. 12. AS 14.45.130(a) is amended to read: 25 (a) A religious or other private school that elects to comply with AS 14.45.100 26 - 14.45.130 shall maintain permanent student records reflecting immunizations, 27 physical examinations, standardized testing, academic achievement, courses taken at 28 the school, and level of eligibility for an Alaska performance [MERIT 29 SCHOLARSHIP PROGRAM] scholarship under AS 14.43.810 - 14.43.849. 30 * Sec. 13. AS 37.14 is amended by adding a new section to read: 31 Article 8A. Alaska Higher Education Investment Fund.
01 Sec. 37.14.750. Alaska higher education investment fund established. (a) 02 The Alaska higher education investment fund is established in the general fund for the 03 purpose of making grants awarded under AS 14.43.400 - 14.43.420 by appropriation 04 to the account established under AS 14.43.915(a) and of making scholarship payments 05 to qualified postsecondary institutions for students under AS 14.43.810 - 14.43.849 by 06 appropriation to the account established under AS 14.43.915(b). Money in the fund 07 does not lapse. The fund consists of 08 (1) money appropriated to the fund; 09 (2) income earned on investment of fund assets; 10 (3) donations to the fund; and 11 (4) money redeposited under AS 14.43.915(c). 12 (b) The legislature may appropriate any amount to the fund established in (a) 13 of this section. Nothing in this section creates a dedicated fund. 14 (c) As soon as is practicable after July 1 of each year, the commissioner of 15 revenue shall determine the market value of the fund established in this section on 16 June 30 for the immediately preceding fiscal year. The commissioner shall identify 17 seven percent of that amount as available for appropriation as follows: 18 (1) one-third for the grant account established under AS 14.43.915(a), 19 from which the Alaska Commission on Postsecondary Education may award grants; 20 and 21 (2) two-thirds for the scholarship account established under 22 AS 14.43.915(b), from which the Alaska Commission on Postsecondary Education 23 may award scholarships. 24 (d) In this section, unless the context requires otherwise, "fund" means the 25 Alaska higher education investment fund established in (a) of this section. 26 * Sec. 14. AS 43.20.014(a) is amended to read: 27 (a) A taxpayer is allowed a credit against the tax due under this chapter for 28 cash contributions accepted for 29 (1) [FOR] direct instruction, research, and educational support 30 purposes, including library and museum acquisitions, and contributions to endowment, 31 by an Alaska university foundation or by a nonprofit, public or private, Alaska two-
01 year or four-year college accredited by a regional accreditation association; 02 (2) [FOR] secondary school level vocational education courses, 03 programs, and facilities by a school district in the state; 04 (3) [FOR] vocational education courses, programs, and facilities by a 05 state-operated vocational technical education and training school; 06 (4) [FOR] a facility or an annual intercollegiate sports tournament by a 07 nonprofit, public or private, Alaska two-year or four-year college accredited by a 08 regional accreditation association; 09 (5) [FOR] Alaska Native cultural or heritage programs and educational 10 support, including mentoring and tutoring, provided by a nonprofit agency for public 11 school staff and for students who are in grades kindergarten through 12 in the state; 12 [AND] 13 (6) [FOR] education, research, rehabilitation, and facilities by an 14 institution that is located in the state and that qualifies as a coastal ecosystem learning 15 center under the Coastal America Partnership established by the federal government; 16 and 17 (7) the Alaska higher education investment fund under 18 AS 37.14.750. 19 * Sec. 15. AS 43.20.014(a), as amended by sec. 14, ch. 92, SLA 2010, is amended to read: 20 (a) A taxpayer is allowed a credit against the tax due under this chapter for 21 cash contributions accepted 22 (1) for direct instruction, research, and educational support purposes, 23 including library and museum acquisitions, and contributions to endowment, by an 24 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 25 four-year college accredited by a regional accreditation association; 26 (2) for secondary school level vocational education courses and 27 programs by a school district in the state; [AND] 28 (3) by a state-operated vocational technical education and training 29 school; and 30 (4) for the Alaska higher education investment fund under 31 AS 37.14.750.
01 * Sec. 16. AS 43.55.019(a) is amended to read: 02 (a) A producer of oil or gas is allowed a credit against the tax due under this 03 chapter for cash contributions accepted for 04 (1) [FOR] direct instruction, research, and educational support 05 purposes, including library and museum acquisitions, and contributions to endowment, 06 by an Alaska university foundation or by a nonprofit, public or private, Alaska two- 07 year or four-year college accredited by a regional accreditation association; 08 (2) [FOR] secondary school level vocational education courses, 09 programs, and facilities by a school district in the state; 10 (3) [FOR] vocational education courses, programs, and facilities by a 11 state-operated vocational technical education and training school; 12 (4) [FOR] a facility or an annual intercollegiate sports tournament by a 13 nonprofit, public or private, Alaska two-year or four-year college accredited by a 14 regional accreditation association; 15 (5) [FOR] Alaska Native cultural or heritage programs and educational 16 support, including mentoring and tutoring, provided by a nonprofit agency for public 17 school staff and for students who are in grades kindergarten through 12 in the state; 18 [AND] 19 (6) [FOR] education, research, rehabilitation, and facilities by an 20 institution that is located in the state and that qualifies as a coastal ecosystem learning 21 center under the Coastal America Partnership established by the federal government; 22 and 23 (7) the Alaska higher education investment fund under 24 AS 37.14.750. 25 * Sec. 17. AS 43.55.019(a), as amended by sec. 21, ch. 92, SLA 2010, is amended to read: 26 (a) A producer of oil or gas is allowed a credit against the tax due under this 27 chapter for cash contributions accepted 28 (1) for direct instruction, research, and educational support purposes, 29 including library and museum acquisitions, and contributions to endowment, by an 30 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 31 four-year college accredited by a regional accreditation association;
01 (2) for secondary school level vocational education courses and 02 programs by a school district in the state; [AND] 03 (3) by a state-operated vocational technical education and training 04 school; and 05 (4) for the Alaska higher education investment fund under 06 AS 37.14.750. 07 * Sec. 18. AS 43.56.018(a) is amended to read: 08 (a) The owner of property taxable under this chapter is allowed a credit 09 against the tax due under this chapter for cash contributions accepted for 10 (1) [FOR] direct instruction, research, and educational support 11 purposes, including library and museum acquisitions, and contributions to endowment, 12 by an Alaska university foundation or by a nonprofit, public or private, Alaska two- 13 year or four-year college accredited by a regional accreditation association; 14 (2) [FOR] secondary school level vocational education courses, 15 programs, and facilities by a school district in the state; 16 (3) [FOR] vocational education courses, programs, and facilities by a 17 state-operated vocational technical education and training school; 18 (4) [FOR] a facility or an annual intercollegiate sports tournament by a 19 nonprofit, public or private, Alaska two-year or four-year college accredited by a 20 regional accreditation association; 21 (5) [FOR] Alaska Native cultural or heritage programs and educational 22 support, including mentoring and tutoring, provided by a nonprofit agency for public 23 school staff and for students who are in grades kindergarten through 12 in the state; 24 [AND] 25 (6) [FOR] education, research, rehabilitation, and facilities by an 26 institution that is located in the state and that qualifies as a coastal ecosystem learning 27 center under the Coastal America Partnership established by the federal government; 28 and 29 (7) the Alaska higher education investment fund under 30 AS 37.14.750. 31 * Sec. 19. AS 43.56.018(a), as amended by sec. 28, ch. 92, SLA 2010, is amended to read:
01 (a) The owner of property taxable under this chapter is allowed a credit 02 against the tax due under this chapter for cash contributions accepted 03 (1) for direct instruction, research, and educational support purposes, 04 including library and museum acquisitions, and contributions to endowment, by an 05 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 06 four-year college accredited by a regional accreditation association; 07 (2) for secondary school level vocational education courses and 08 programs by a school district in the state; [AND] 09 (3) by a state-operated vocational technical education and training 10 school; and 11 (4) for the Alaska higher education investment fund under 12 AS 37.14.750. 13 * Sec. 20. AS 43.65.018(a) is amended to read: 14 (a) A person engaged in the business of mining in the state is allowed a credit 15 against the tax due under this chapter for cash contributions accepted for 16 (1) [FOR] direct instruction, research, and educational support 17 purposes, including library and museum acquisitions, and contributions to endowment, 18 by an Alaska university foundation or by a nonprofit, public or private, Alaska two- 19 year or four-year college accredited by a regional accreditation association; 20 (2) [FOR] secondary school level vocational education courses, 21 programs, and facilities by a school district in the state; 22 (3) [FOR] vocational education courses, programs, and facilities by a 23 state-operated vocational technical education and training school; 24 (4) [FOR] a facility or an annual intercollegiate sports tournament by a 25 nonprofit, public or private, Alaska two-year or four-year college accredited by a 26 regional accreditation association; 27 (5) [FOR] Alaska Native cultural or heritage programs and educational 28 support, including mentoring and tutoring, provided by a nonprofit agency for public 29 school staff and for students who are in grades kindergarten through 12 in the state; 30 [AND] 31 (6) [FOR] education, research, rehabilitation, and facilities by an
01 institution that is located in the state and that qualifies as a coastal ecosystem learning 02 center under the Coastal America Partnership established by the federal government; 03 and 04 (7) the Alaska higher education investment fund under 05 AS 37.14.750. 06 * Sec. 21. AS 43.65.018(a), as amended by sec. 35, ch. 92, SLA 2010, is amended to read: 07 (a) A person engaged in the business of mining in the state is allowed a credit 08 against the tax due under this chapter for cash contributions accepted 09 (1) for direct instruction, research, and educational support purposes, 10 including library and museum acquisitions, and contributions to endowment, by an 11 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 12 four-year college accredited by a regional accreditation association; 13 (2) for secondary school level vocational education courses and 14 programs by a school district in the state; [AND] 15 (3) by a state-operated vocational technical education and training 16 school; and 17 (4) for the Alaska higher education investment fund under 18 AS 37.14.750. 19 * Sec. 22. AS 43.75.018(a) is amended to read: 20 (a) A person engaged in a fisheries business is allowed a credit against the tax 21 due under this chapter for cash contributions accepted for 22 (1) [FOR] direct instruction, research, and educational support 23 purposes, including library and museum acquisitions, and contributions to endowment, 24 by an Alaska university foundation or by a nonprofit, public or private, Alaska two- 25 year or four-year college accredited by a regional accreditation association; 26 (2) [FOR] secondary school level vocational education courses, 27 programs, and facilities by a school district in the state; 28 (3) [FOR] vocational education courses, programs, and facilities by a 29 state-operated vocational technical education and training school; 30 (4) [FOR] a facility or an annual intercollegiate sports tournament by a 31 nonprofit, public or private, Alaska two-year or four-year college accredited by a
01 regional accreditation association; 02 (5) [FOR] Alaska Native cultural or heritage programs and educational 03 support, including mentoring and tutoring, provided by a nonprofit agency for public 04 school staff and for students who are in grades kindergarten through 12 in the state; 05 [AND] 06 (6) [FOR] education, research, rehabilitation, and facilities by an 07 institution that is located in the state and that qualifies as a coastal ecosystem learning 08 center under the Coastal America Partnership established by the federal government; 09 and 10 (7) the Alaska higher education investment fund under 11 AS 37.14.750. 12 * Sec. 23. AS 43.75.018(a), as amended by sec. 42, ch. 92, SLA 2010, is amended to read: 13 (a) A person engaged in a fisheries business is allowed a credit against the tax 14 due under this chapter for cash contributions accepted 15 (1) for direct instruction, research, and educational support purposes, 16 including library and museum acquisitions, and contributions to endowment, by an 17 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 18 four-year college accredited by a regional accreditation association; 19 (2) for secondary school level vocational education courses and 20 programs by a school district in the state; [AND] 21 (3) by a state-operated vocational technical education and training 22 school; and 23 (4) for the Alaska higher education investment fund under 24 AS 37.14.750. 25 * Sec. 24. AS 43.77.045(a) is amended to read: 26 (a) In addition to the credit allowed under AS 43.77.040, a person engaged in 27 a floating fisheries business is allowed a credit against the tax due under this chapter 28 for cash contributions accepted for 29 (1) [FOR] direct instruction, research, and educational support 30 purposes, including library and museum acquisitions, and contributions to endowment, 31 by an Alaska university foundation or by a nonprofit, public or private, Alaska two-
01 year or four-year college accredited by a regional accreditation association; 02 (2) [FOR] secondary school level vocational education courses, 03 programs, and facilities by a school district in the state; 04 (3) [FOR] vocational education courses, programs, and facilities by a 05 state-operated vocational technical education and training school; 06 (4) [FOR] a facility or an annual intercollegiate sports tournament by a 07 nonprofit, public or private, Alaska two-year or four-year college accredited by a 08 regional accreditation association; 09 (5) [FOR] Alaska Native cultural or heritage programs and educational 10 support, including mentoring and tutoring, provided by a nonprofit agency for public 11 school staff and for students who are in grades kindergarten through 12 in the state; 12 [AND] 13 (6) [FOR] education, research, rehabilitation, and facilities by an 14 institution that is located in the state and that qualifies as a coastal ecosystem learning 15 center under the Coastal America Partnership established by the federal government; 16 and 17 (7) the Alaska higher education investment fund under 18 AS 37.14.750. 19 * Sec. 25. AS 43.77.045(a), as amended by sec. 49, ch. 92, SLA 2010, is amended to read: 20 (a) In addition to the credit allowed under AS 43.77.040, a person engaged in 21 a floating fisheries business is allowed a credit against the tax due under this chapter 22 for cash contributions accepted 23 (1) for direct instruction, research, and educational support purposes, 24 including library and museum acquisitions, and contributions to endowment, by an 25 Alaska university foundation or by a nonprofit, public or private, Alaska two-year or 26 four-year college accredited by a regional accreditation association; 27 (2) for secondary school level vocational education courses and 28 programs by a school district in the state; [AND] 29 (3) by a state-operated vocational technical education and training 30 school; and 31 (4) for the Alaska higher education investment fund under
01 AS 37.14.750. 02 * Sec. 26. Section 8, ch. 14, SLA 2010, is repealed. 03 * Sec. 27. The uncodified law of the State of Alaska is amended by adding a new section to 04 read: 05 TRANSITION: ALASKA HIGHER EDUCATION INVESTMENT FUND. The 06 Alaska higher education investment fund established in AS 37.14.750, enacted by sec. 13 of 07 this Act, is the fund identified in sec. 20(f), ch. 5, FSSLA 2011. 08 * Sec. 28. The uncodified law of the State of Alaska is amended by adding a new section to 09 read: 10 TRANSITION: REGULATIONS. The Department of Education and Early 11 Development, the Department of Labor and Workforce Development, the Department of 12 Revenue, and the Alaska Commission on Postsecondary Education may adopt regulations 13 necessary to implement changes made to their respective authorities by this Act. The 14 regulations take effect under AS 44.62 (Administrative Procedure Act), but not before July 1, 15 2012. 16 * Sec. 29. The uncodified law of the State of Alaska is amended by adding a new section to 17 read: 18 REVISOR'S INSTRUCTION. The revisor of statutes is instructed to change the 19 (1) heading of art. 12 of AS 14.43 from "Alaska Merit Scholarship Program" 20 to "Alaska Performance Scholarship Program"; 21 (2) catch line for AS 14.43.820 from "Alaska merit scholarship program; 22 eligibility" to "Alaska performance scholarship program; eligibility." 23 * Sec. 30. Sections 2, 4, 5, and 7 of this Act, and AS 14.43.915(d), added by sec. 11 of this 24 Act, take effect April 1, 2013. 25 * Sec. 31. AS 14.43.830(a)(1)(C) and (D), added by sec. 9 of this Act, and the amendment 26 to AS 14.43.830(a)(2) made by sec. 9 of this Act take effect July 1, 2013. 27 * Sec. 32. Sections 15, 17, 19, 21, 23, and 25 of this Act take effect January 1, 2021. 28 * Sec. 33. Except as provided in secs. 30 - 32 of this Act, this Act takes effect immediately 29 under AS 01.10.070(c).