- Alaska Statutes.
- Title 37. Public Finance
- Chapter 10. Public Funds
- Section 430. Management of the Budget Reserve Fund.
previous: Section 420
. "Money Available For Appropriation" Defined.
next: Chapter 11
. Renewable Resources Funds
AS 37.10.430. Management of the Budget Reserve Fund.
- (a) The Department of Revenue may transfer management responsibility over all or a portion of the budget reserve fund
(art. IX, sec. 17, Constitution of the State of Alaska) to the Alaska Permanent Fund Corporation.
- (b) By March 15 of each year, the Department of Revenue shall, after consulting with the Alaska Permanent Fund
Corporation, prepare a report setting out the balance in the budget reserve fund (art. IX, sec. 17, Constitution of the
State of Alaska) on January 1 and on December 31 of the previous calendar year. The report shall state the nominal,
real, and realized return on the budget reserve fund compared to the nominal, real, and realized return on the
permanent fund and the general fund during the previous calendar year.
- (c) A special subaccount is established in the budget reserve fund (art. IX, sec. 17, Constitution of the State of
Alaska). Money in the subaccount shall be invested to yield higher returns than might be feasible to obtain with other
money in the budget reserve fund. In establishing or modifying the investment policy for the subaccount in the
constitutional budget reserve fund, the commissioner of revenue shall assume that those funds will not be needed for at
least five years. Income earned on money in the subaccount shall be retained in the subaccount by the department.
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.