Section 37.14.170. Investments.

The commissioner of revenue is the fiduciary of the trust fund and shall invest the fund to provide increasing net income over long-term periods to the fund's income beneficiaries. The commissioner may invest the money in the fund on the basis of probable total rate of return to promote the long-term generation of income. In managing the trust fund, the commissioner shall
        (1) consider the status of the fund's capital and the income generated on both a current and a probable future basis;
        (2) determine the appropriate investment objectives;
        (3) establish investment policies to achieve the objectives; and
        (4) act only in regard to the financial interests of the fund's beneficiaries.

Authorities

37.14.520

Notes

Recent Bills that will modify this

HB 261 INVEST/APPROP/ADMIN PUB SCHOOL TRUST FUND
SB 146 INVEST/APPROP/ADMIN PUB SCHOOL TRUST FUND

References

AS 37.14.520 Powers and duties of the commissioner of revenue.

History

(Sec. 4 ch 182 SLA 1978; am Sec. 30 ch 85 SLA 1988; am Sec. 25 ch 141 SLA 1988)