HB 171: "An Act establishing the Alaska opioid settlement investment fund; establishing the Alaska opioid remediation fund; and providing for an effective date."
00 HOUSE BILL NO. 171 01 "An Act establishing the Alaska opioid settlement investment fund; establishing the 02 Alaska opioid remediation fund; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 37.14 is amended by adding new sections to read: 05 Article 9A. Opioid Remediation Funds. 06 Sec. 37.14.760. Alaska opioid settlement investment fund. (a) The Alaska 07 opioid settlement investment fund is established outside and separate from the general 08 fund. The purpose of the fund is to support the prevention of opioid addiction and 09 support opioid harm reduction, treatment, recovery, remediation, and education 10 through appropriations to the Alaska opioid remediation fund under AS 37.14.761. 11 The legislature shall appropriate money to the investment fund in compliance with the 12 settlement agreements entered into between the state and the manufacturers and 13 distributors of opioids. Money in the fund does not lapse. The fund consists of 14 (1) money appropriated to the fund;
01 (2) income earned on investment of fund assets; and 02 (3) donations to the fund. 03 (b) The legislature may appropriate any amount to the Alaska opioid 04 settlement investment fund. Appropriations from revenue associated with the 05 settlement agreements entered into between the state and the manufacturers and 06 distributors of opioids shall be accounted for separately. Nothing in this section creates 07 a dedicated fund. 08 (c) As soon as is practicable after July 1 of each year, the commissioner of 09 revenue shall determine the amount available for appropriation. The amount available 10 for appropriation is five percent of the average market value of the fund for the first 11 five of the preceding six fiscal years, including the fiscal year just ended, computed 12 annually for each fiscal year in accordance with generally accepted accounting 13 principles. The legislature may appropriate the amount identified in this subsection to 14 the Alaska opioid remediation fund for the purpose of supporting the prevention of 15 opioid addiction and supporting opioid harm reduction, treatment, recovery, 16 remediation, and education. 17 (d) The legislature may appropriate from the principal of the fund to the 18 Department of Revenue the amount necessary to pay for management fees associated 19 with the fund. 20 (e) In this section, unless the context requires otherwise, 21 (1) "fund" means the Alaska opioid settlement investment fund; 22 (2) "manufacturers and distributors of opioids" does not include a 23 manufacturer or distributor of a controlled substance under AS 11.71. 24 Sec. 37.14.761. Alaska opioid remediation fund. (a) The Alaska opioid 25 remediation fund is established in the general fund for the purpose of supporting the 26 prevention of opioid addiction and supporting opioid harm reduction, treatment, 27 recovery, remediation, and education. The fund consists of money appropriated to it 28 by the legislature. Money appropriated to the fund does not lapse. Earnings received 29 on money in the fund shall be accounted for separately and may be appropriated into 30 the fund annually. The commissioner of health may expend money from the fund 31 without further appropriation for the following purposes:
01 (1) funding and supporting services for the prevention of opioid 02 addiction and supporting opioid harm reduction, treatment, recovery, remediation, and 03 education; 04 (2) paying administrative costs associated with the operation of opioid 05 remediation programs; and 06 (3) awarding and administering grants authorized by law and in 07 compliance with the terms of the settlement agreements entered into between the state 08 and the manufacturers and distributors of opioids. 09 (b) In this section, unless the context requires otherwise, 10 (1) "fund" means the Alaska opioid remediation fund; 11 (2) "manufacturers and distributors of opioids" does not include a 12 manufacturer or distributor of a controlled substance under AS 11.71. 13 * Sec. 2. The uncodified law of the State of Alaska is amended by adding a new section to 14 read: 15 TRANSITION: ALASKA OPIOID SETTLEMENT INVESTMENT FUND. (a) The 16 amount available for appropriation under AS 37.14.760(c), added by sec. 1 of this Act, shall 17 be calculated as follows for the first five years of the existence of the Alaska opioid settlement 18 investment fund: 19 (1) in year one of the fund, five percent of the initial appropriations made to 20 the fund, as determined on June 30, 2023; 21 (2) in year two of the fund, five percent of the market value of the fund, as 22 determined on June 30, 2023; 23 (3) in year three of the fund, five percent of the average market value of the 24 fund for the preceding two years, as determined on June 30, 2024; 25 (4) in year four of the fund, five percent of the average market value of the 26 fund for the preceding three years, as determined on June 30, 2025; 27 (5) in year five of the fund, five percent of the average market value of the 28 fund for the preceding four years, as determined on June 30, 2026. 29 (b) In year six of the Alaska opioid settlement investment fund, and for all subsequent 30 years of the fund, the amount available for appropriation shall be calculated under the formula 31 provided in AS 37.14.760(c), added by sec. 1 of this Act.