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(a) The provisions of 3 AAC 107.300 - 3 AAC 107.430 implement and interpret AS 42.45.180 relating to the responsibilities and powers of the authority with respect to grants for utility improvements from the power cost equalization and rural electric capitalization fund. The authority may use money available in the fund to make grants for utility improvements as provided in 3 AAC 107.300 - 3 AAC 107.430. It is a purpose of the fund to provide grants to improve existing utility systems and thereby to reduce the costs to the fund for power cost equalization under AS 42.45.100 - 42.45.170.
(b) A grant under 3 AAC 107.300 - 3 AAC 107.430 is subject to the availability of money in the fund for that purpose. As soon as practical in each fiscal year, the authority shall determine the amount of money in the fund. During each fiscal year, the authority shall make available for grants for utility improvements from the fund an amount equal to three percent of the amount of money in the fund as of July 1 of that fiscal year.
History: Eff. 6/29/94, Register 131; am 11/25/94, Register 132
Authority: AS 42.45.100
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Last modified 7/05/2006