(a) There is established in the general fund an Alaska Gasline Inducement Act reimbursement fund. The fund consists of money appropriated to it by the legislature for disbursement to pay the state‘s reimbursements under Alaska Stat. § 43.90.110. Money appropriated to the fund may be spent for the purposes of the fund without further appropriation. Appropriations to the fund do not lapse under Alaska Stat. § 37.25.010, but remain in the fund for future disbursements. Nothing in this subsection creates a dedicated fund.
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Terms Used In Alaska Statutes 43.90.400

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • commissioners: means the commissioner of revenue and the commissioner of natural resources, acting jointly. See Alaska Statutes 43.90.900
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(b) The Department of Revenue shall manage the fund, and may invest money in the fund so as to yield competitive market rates as provided in Alaska Stat. § 37.10.071. Income earned on the fund shall be accounted for separately and may be appropriated annually to the fund.
(c) The commissioners shall adopt regulations that provide for application to receive reimbursements for qualified expenditures as provided under Alaska Stat. § 43.90.110, and that provide for periodic audits of the use of money disbursed as reimbursements under this chapter.
(d) Within 10 days after the convening of each regular session of the legislature, the commissioners shall submit to the legislature a report that lists all the disbursements from the fund during the preceding fiscal year with a written justification for each disbursement and the projected amount of money that will be required for reimbursements in each of the next three fiscal years.
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