00                      CS FOR HOUSE BILL NO. 322(TRA)                                                                    
01 "An Act relating to the Alaska marine highway system fund; relating to the Alaska                                       
02 marine highway system vessel replacement fund; and providing for an effective date."                                    
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 19.65.060(a) is amended to read:                                                                     
05            (a)  The [THERE IS CREATED, AS A SPECIAL ACCOUNT IN THE                                                    
06       GENERAL FUND, THE] Alaska marine highway system fund is established as a                                        
07       separate fund in the state treasury, into which shall be deposited                                              
08                 (1)  the gross revenue of the Alaska marine highway system;                                             
09                 (2)  money that is appropriated to the Alaska marine highway system                                     
10 fund by the legislature in an amount that is consistent from year to year and is the                                    
11 amount necessary, after consideration of gross revenue, to provide stable services to                                   
12 the public consistent with the provisions of AS 19.65.050(b)(4), which appropriations                                   
13 are not one-year appropriations and the balances of which do not lapse under                                            
14       AS 37.25.010; and                                                                                                 

01 (3)  any other money that is appropriated to the Alaska marine highway                                                  
02 system fund by the legislature, which appropriations are not one-year appropriations                                    
03       and the balances of which do not lapse under AS 37.25.010.                                                        
04    * Sec. 2. 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. 3. This Act takes effect June 30, 2022.