(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.
Section: Previous 37.05.500 37.05.510 37.05.520 37.05.530 37.05.540 37.05.550 37.05.555 37.05.560 37.05.565 37.05.570 37.05.580 37.05.590 37.05.600 37.05.610 NextLast modified: November 15, 2016