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Alaska Statutes Title 37. Public Finance § 37.14.041. Use of trust settlement income account

Current as of January 01, 2022 | Updated by FindLaw Staff

(a) Money in the mental health trust settlement income account may only be used for the following purposes:

(1) the awarding of grants and contracts in fulfillment of the authority's purpose to ensure an integrated comprehensive mental health program for the state;

(2) obtaining private and federal grants for a purpose described in (1) of this subsection;

(3) soliciting gifts, bequests, and contributions for a purpose described in (1) of this subsection;

(4) reimbursement to

(A) the Alaska Permanent Fund Corporation for the costs of managing the principal of the mental health trust fund; and

(B) the Department of Natural Resources for the cost of managing mental health trust land;

(5) offsetting the effect of inflation on the value of the principal of the mental health trust fund; and

(6) subject to AS 37.07 (Executive Budget Act), meeting the necessary administrative expenses of the authority that are required for it to properly discharge its responsibilities.

(b) If money in the mental health trust settlement income account is not needed to meet the necessary expenses of the state's integrated comprehensive mental health program, the authority shall transfer the money to the unrestricted general fund for expenditure through legislative appropriation for other public purposes.

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Cite this article: FindLaw.com - Alaska Statutes Title 37. Public Finance § 37.14.041. Use of trust settlement income account - last updated January 01, 2022 | https://codes.findlaw.com/ak/title-37-public-finance/ak-st-sect-37-14-041/

Read this complete Alaska Statutes Title 37. Public Finance § 37.14.041. Use of trust settlement income account on Westlaw

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