HB 322: "An Act relating to the Alaska marine highway system vessel replacement fund; and providing for an effective date."
00 HOUSE BILL NO. 322 01 "An Act relating to the Alaska marine highway system vessel replacement fund; and 02 providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 37.05.550(a) is amended to read: 05 (a) The [THERE IS IN THE GENERAL FUND THE] Alaska marine 06 highway system vessel replacement fund is established as a separate fund in the 07 state treasury. The fund consists of money appropriated to it by the legislature. 08 Money appropriated to the fund does not lapse. The Department of Revenue shall 09 manage the fund. Interest received on money in the fund shall be accounted for 10 separately and may be appropriated into the fund annually. The legislature may 11 appropriate money from the fund for refurbishment of existing state ferry vessels, 12 acquisition of additional state ferry vessels, or replacement of retired or outmoded 13 state ferry vessels. 14 * Sec. 2. This Act takes effect June 30, 2022.