Section 37.05.610. Alaska affordable energy fund.

   (a) The Alaska affordable energy fund is created as a special account in the general fund. The fund consists of the amount determined and deposited in the fund under (b) of this section and interest earned on the fund balance. The purpose of the fund is to provide a source from which the legislature may appropriate money to develop infrastructure to deliver energy to areas of the state that are not expected to have or do not have direct access to a North Slope natural gas pipeline.
   (b) The amount to be deposited in (a) of this section is 20 percent of the revenue received from the state's royalty gas transported in an Alaska liquefied natural gas project that remains after the payment to the Alaska permanent fund under AS 37.13.010.
   (c) The legislature may make appropriations from the Alaska affordable energy fund for the purpose described in (a) of this section.
   (d) Nothing in this section creates a dedicated fund.
   (e) In this section,
        (1) "Alaska liquefied natural gas project" has the meaning given in AS 31.25.390;
        (2) "North Slope natural gas pipeline" has the meaning given in AS 42.06.630.

Notes

History

(Sec. 23 ch 14 SLA 2014)