00                      CS FOR HOUSE BILL NO. 212(FIN)                                                                    
01 "An Act relating to funding for school construction and major maintenance; and                                          
02 relating to the regional educational attendance area and small municipal school district                                
03 fund."                                                                                                                  
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1. AS 14.11.030(a) is amended to read:                                                                 
06 (a)  The regional educational attendance area and small municipal school                                                
07 district school fund is created as an account in the general fund to be used, in addition                               
08 to other funding sources, to fund projects approved under AS 14.11.025 for the costs                                    
09 of school construction and major maintenance in regional educational attendance                                     
10       areas and small municipal school districts.                                                                       
11    * Sec. 2. AS 14.11.030(b) is amended to read:                                                                      
12 (b)  Legislative appropriations, including appropriations of interest earned on                                         
13 the fund, shall be deposited in the fund established under this section. The                                            
14 unobligated and unexpended cash [FUND] balance of the fund may not exceed                                       

01       $70,000,000.                                                                                                      
02    * Sec. 3. AS 14.11.030 is amended by adding a new subsection to read:                                              
03            (e)  Not more than 20 percent of the fund balance available for appropriation in                             
04       a fiscal year may be used to fund major maintenance projects under (a) of this section.                           
05    * Sec. 4. AS 14.11.035 is amended to read:                                                                         
06 Sec. 14.11.035. Report on school construction and major maintenance                                                   
07 funding. Every [BEGINNING IN] February [2013], the department shall provide to                                      
08 the governor and the legislature an annual report on the effectiveness of the school                                    
09 construction and major maintenance grants, state aid for school construction and                                    
10 major maintenance in regional educational attendance areas, and state aid for costs of                              
11 school construction debt under this chapter. The report must include an analysis of                                     
12 funding sources and the short-term and long-term fiscal effects of the funding on the                                   
13 state. Copies of the report shall be made available to the public and to the legislature.