Section 37.13.010. Alaska permanent fund.

   (a) Under art. IX, sec. 15, of the state constitution, there is established as a separate fund the Alaska permanent fund. The Alaska permanent fund consists of
        (1) 25 percent of all mineral lease rentals, royalties, royalty sale proceeds, net profit shares under AS 38.05.180(f) and (g), and federal mineral revenue sharing payments received by the state from mineral leases issued on or before December 1, 1979, and 25 percent of all bonuses received by the state from mineral leases issued on or before February 15, 1980;
        (2) 50 percent of all mineral lease rentals, royalties, royalty sale proceeds, net profit shares under AS 38.05.180(f) and (g), and federal mineral revenue sharing payments received by the state from mineral leases issued after December 1, 1979, and 50 percent of all bonuses received by the state from mineral leases issued after February 15, 1980; and
        (3) any other money appropriated to or otherwise allocated by law or former law to the Alaska permanent fund.
   (b) Payments due the Alaska permanent fund under (a) of this section shall be made to the fund within three banking days after the day the amount due to the fund reaches at least $3,000,000 and at least once each month.
   (c) The Alaska permanent fund shall be managed by the Alaska Permanent Fund Corporation established in this chapter.

Authorities

27.30.080;37.05.550;37.05.610;37.13.030;37.13.040;38.05.180;41.09.010;45.50.577

Notes

Recent Bills that will modify this

HB 245 PERM. FUND:DEPOSITS;DIVIDEND;EARNINGS
HB 303 PERM FUND: EARNINGS, DEPOSITS, ACCOUNTS
HB5001 PERM. FUND:DEPOSITS;DIVIDEND;EARNINGS
SB 114 PERM FUND: EARNINGS, DEPOSITS, ACCOUNTS
SB 128 PERM. FUND:DEPOSITS;DIVIDEND;EARNINGS
SB5001 PERM. FUND:DEPOSITS;DIVIDEND;EARNINGS

References

AS 27.30.080 Relationship to other funds.
AS 37.05.550 Alaska marine highway system vessel replacement fund.
AS 37.05.610 Alaska affordable energy fund.
AS 37.13.030 Purpose.
AS 37.13.040 Alaska Permanent Fund Corporation.
AS 38.05.180 Oil and gas and gas only leasing.
AS 41.09.010 [Repealed January 1, 2017]. Exploration incentive credits.
AS 45.50.577 Enforcement by attorney general.

History

(Sec. 5 ch 18 SLA 1980; am Sec. 2 ch 134 SLA 1992; am Sec. 1 - 4 ch 22 SLA 2003)