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Alaska Statutes Title 37. Public Finance § 37.14.530. Use of fund

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

(a) The principal of the fund and any capital gains or losses realized on the principal shall be retained perpetually in the fund for investment as specified in AS 37.14.520.

(b) The net income account of the fund may be appropriated for the following purposes:

(1) reimbursement to the Department of Revenue for the costs of establishing and managing the fund;

(2) the administrative expenses of the Museum Collection Advisory Committee relating to acquisitions from the fund, as determined by the legislature;

(3) acquisitions authorized by AS 14.57.100 - 14.57.199; and

(4) reimbursement of other costs of administration of the fund.

(c) The balance remaining in the net income account that, at the end of the fiscal year, has not been appropriated, or that has been appropriated but not expended, shall be invested until appropriated or expended.

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Cite this article: FindLaw.com - Alaska Statutes Title 37. Public Finance § 37.14.530. Use of fund - last updated January 01, 2022 | https://codes.findlaw.com/ak/title-37-public-finance/ak-st-sect-37-14-530/

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