Section 37.05.565. Alaska capital income fund.

Latest version.

   (a) There is established in the general fund the Alaska capital income fund consisting of money deposited to the fund under AS 37.13.145(d) and of appropriations to the fund. The fund shall be invested by the Department of Revenue to yield competitive market rates as provided in AS 37.10.071. Income earned on money in the fund may be appropriated to the fund.
   (b) Money may be appropriated from the Alaska capital income fund for any public purpose, including to cover annual debt service and reserves for debt service on bonds authorized by state law. Nothing in this subsection creates a dedicated fund.

Authorities

37.07.020;37.13.145

Notes

References

AS 37.07.020 Responsibilities of the governor.
AS 37.13.145 Disposition of income.

History

(Sec. 1 ch 49 SLA 2005)

                    
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