- Alaska Statutes.
- Title 37. Public Finance
- Chapter 14. Trust Funds
- Section 510. Net Income Account.
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. Alaska Heritage Endowment Fund Established.
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AS 37.14.510. Net Income Account.
- (a) The net income account is established in the Alaska heritage endowment fund. The net income account of the fund
- (1) money and other assets given by persons to the fund whose placement in the principal of the fund is not required by AS
- (2) amounts earned on the investment of gifts, bequests, and contributions of cash or other assets whose placement in the
principal of the fund is required under AS 37.14.500
- (b) The legislature may appropriate from the net income account to the principal of the fund under AS 37.14.500
- (c) The net income of the fund shall be determined by the commissioner of revenue in accordance with investment accounting
principles and in a manner that preserves the distinction between principal and income.
- (d) Unless otherwise provided by the act making an appropriation under (b) of this section, an amount appropriated to the
net income account under (b) of this section does not lapse.
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