(a) Five percent of the amount determined by the commissioner of revenue on July 1 of each year under Alaska Stat. § 42.45.080 (c)(1) may be appropriated for the following purposes:

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Terms Used In Alaska Statutes 42.45.085

  • 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
  • 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.
  • power: includes electrical energy generated, distributed, bought, or sold for lighting, heating, power, and every other useful purpose. See Alaska Statutes 42.45.990
(1) funding the power cost equalization and rural electric capitalization fund (Alaska Stat. § 42.45.100);
(2) reimbursement to the Department of Revenue for the costs of establishing and managing the fund; and
(3) reimbursement of other costs of administration of the fund.
(b) Nothing in this section creates a dedicated fund.
(c) If the amount appropriated under (a) of this section is insufficient to achieve the purposes of (a)(1) – (3) of this section, the amount shall be prorated among the purposes listed in (a)(1) and (2) of this section.
(d) If the earnings of the fund for the previous closed fiscal year, as calculated under Alaska Stat. § 42.45.080 (c)(2), exceed the appropriation under (a) of this section for the current fiscal year, the legislature may appropriate 70 percent of the difference between the earnings of the fund for the previous closed fiscal year, as calculated under Alaska Stat. § 42.45.080 (c)(2), and the appropriation made under (a) of this section for the current fiscal year as follows:

(1) if the amount calculated under this subsection is less than $30,000,000, that amount to a community revenue sharing or community assistance fund; or
(2) if the amount calculated under this subsection is $30,000,000 or more,

(A) $30,000,000 to a community revenue sharing or community assistance fund; and
(B) the remaining amount, not to exceed $25,000,000, to the renewable energy grant fund established under Alaska Stat. § 42.45.045, to the bulk fuel revolving loan fund established under Alaska Stat. § 42.45.250, or for rural power system upgrades or to a combination of the funds or purposes listed in this subparagraph.
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