1993-02-15                     Senate Journal                      Page 0362
SB 116                                                                       
SENATE BILL NO. 116 by the Senate Rules Committee by request                   
of the Governor, entitled:                                                     
                                                                               
"An Act making a special appropriation to the                                 
Alaska public schools and public facilities fund; and                          
providing for an effective date."                                              
                                                                               
was read the first time and referred to the Health, Education and              
Social Services, Judiciary and Finance Committees.                             
                                                                               
Governor's transmittal letter dated February 15:                               
                                                                               
Dear Mr. President:                                                            
                                                                               
Under the authority of art. III, sec. 18, of the Alaska Constitution,          
I am transmitting a bill making a special appropriation in the sum             
of $630,000,000 from the general fund to the Alaska public schools             
and public facilities fund (AS37.15.011).  (In a companion bill that           
I am also transmitting, the existing Alaska debt retirement fund               
(AS37.15.011) is renamed as the Alaska public schools and public               
facilities fund.)                                                              
                                                                               

1993-02-15                     Senate Journal                      Page 0363
SB 116                                                                       
The intent of this bill is to appropriate the amount equivalent to the         
$630,000,000 to be received by the state from the February 1993                
settlement agreement with British Petroleum for income tax,                    
penalties, and interest arising under AS43.20 to the Alaska public             
schools and public facilities fund.  The intended uses of money in             
the fund are set out in AS37.15.011, which is repealed and                     
reenacted in the accompanying companion bill.                                  
                                                                               
The bill has a contingent effective date, to correspond to the date            
that the settlement money is anticipated to be received by the state,          
but only if statutory changes to the fund (in the companion bill) are          
enacted into law to allow the fund to be more readily used for                 
appropriations for construction and maintenance of capital projects.           
                                                                               
I urge your support for this bill.                                             
                                                                               
						Sincerely,                                                               
						/s/                                                                      
						Walter J. Hickel                                                         
						Governor