- Alaska Statutes.
- Title 37. Public Finance
- Chapter 5. Fiscal Procedures Act
- Section 540. Budget Reserve Fund; Appropriation Limit.
previous: Section 530
. National Petroleum Reserve - Alaska Special Revenue Fund.
next: Section 550
. Alaska Marine Highway System Vessel Replacement Fund.
AS 37.05.540. Budget Reserve Fund; Appropriation Limit.
- (a) There is established as a separate fund in the state treasury the budget reserve fund. The budget reserve fund
consists of appropriations to the fund. Money received by the state that is subject to the appropriation limit under
(b) of this section and that exceeds that limit, may be appropriated to the budget reserve fund.
- (b) Except for appropriations to the permanent fund or for Alaska permanent fund dividends, appropriations to the budget
reserve fund, appropriations of revenue bond proceeds, appropriations required to pay the principal and interest on
general obligation bonds, and appropriations of money received from a nonstate source in trust for a specific purpose,
including revenue of a public enterprise or public corporation of the state that issues revenue bonds, appropriations
from the mental health trust settlement income account (AS 37.14.036
), and appropriations made to the mental health trust fund (AS 37.14.031
), appropriations from the treasury made in a fiscal year may not exceed appropriations made in the preceding fiscal
year by more than five percent plus the change in population and inflation since the beginning of the preceding fiscal
year. For purposes of applying this limit an appropriation is considered to be made in the fiscal year in which it is
enacted and a reappropriation remains attributed to the fiscal year in which the original appropriation is enacted. The
determination of the change in population for purposes of this subsection shall be based on an annual estimate of
population by the Department of Labor and Workforce Development. The determination of the change in inflation for
purposes of this subsection shall be based on the Consumer Price Index for all urban consumers for Anchorage prepared
by the United States Bureau of Labor Statistics. The amount of money received by the state that is subject to the
appropriation limit includes the balance in the general fund carried forward from the preceding fiscal year.
- (c) If the legislature determines that the money subject to the appropriation limit received by the state in a fiscal year
is less than the maximum permitted to be appropriated under (b) of this section, up to 25 percent of the balance of the
budget reserve fund may be appropriated to the general fund.
- (d) The Department of Revenue shall manage and invest assets of the budget reserve fund in the manner set out for the
management and investment of the assets of the general fund under AS 37.10.070
. Income from investment of the budget reserve fund may be appropriated to the fund each year by law.
- (e) Notwithstanding other provisions of this section, appropriations may be made from the budget reserve fund needed by
the governor to meet a disaster. In this subsection, "disaster" has the meaning given in AS 26.23.900.
All content © 2008 by Touch
N' Go/Bright Solutions, Inc.
Note to HTML Version:
This version of the Alaska Statutes is current through December, 2007. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature
If any errors are found, please e-mail Touch N' Go systems at E-mail. We
hope you find this information useful.