reglab/statecodes huggingface dataset:
2023 Alaska Statutes › Title 37. Public Finance › Chapter 05. Fiscal Procedures Act › Article 8. General Provisions. › Sec. 37.05.920. Fiscal year.

The fiscal year of the state begins on July 1 of each year and ends at midnight on the following June 30. The accounts of the Department of Administration, the Department of Revenue, and all other state officers whose accounts are in any way connected with the treasury shall be kept, and all duties performed with reference to the beginning and ending of the fiscal year.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 05. Fiscal Procedures Act › Article 8. General Provisions. › Sec. 37.05.990. Definitions for chapter.

In this chapter,
(1) “fiscal year,” “budget year,” “accounting year,” or similar term means a year beginning on July 1 of one calendar year and ending on June 30 of the following calendar year;
(2) “state agency,” “agency,” “department,” or similar term means a department, office, institution, board, commission, bureau, division, or other administrative unit forming the state government, and includes the Alaska Pioneers' Home, the Alaska Veterans' Home, and the University of Alaska.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 06. Capital Project Matching Grant Programs › Sec. 37.06.040. Municipalities organized under federal law.

An entity organized under federal law as an Indian reserve that existed before enactment of 43 U.S.C. 1618(a) and is continued in existence under that subsection is a municipality for purposes of AS 37.06.010 - 37.06.090 and may not receive a grant under AS 37.06.020. In addition to other eligibility requirements applicable to municipalities, to qualify to receive a grant under AS 37.06.010, a municipality organized under federal law as an Indian reserve shall form a community development corporation with authority to determine how the grant money will be used. The corporation's charter must require that the governing board of the corporation shall be elected at an annual election open to all residents of the municipality who are registered and qualified to vote in state elections. The Department of Commerce, Community, and Economic Development may distribute money for the municipality only to a corporation organized in accordance with this section and only after the corporation has delivered a written waiver of sovereign immunity from legal action by the state to recover all or a portion of the money distributed under AS 37.06.010.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 06. Capital Project Matching Grant Programs › Sec. 37.06.080. Adoption of regulations.

The Department of Commerce, Community, and Economic Development
(1) may adopt regulations that impose additional requirements or procedures to implement, interpret, make specific, or otherwise carry out the provisions of this chapter;
(2) shall adopt regulations providing for periodic audits of the use of money for grants under this chapter, including audit of the department's determination of the value of, and adequacy of the verification of the actual use of, locally funded or contributed labor on projects funded by a grant under this chapter.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 06. Capital Project Matching Grant Programs › Sec. 37.06.090. Definition of “capital project.”

In this chapter, “capital project” means a project with a cost exceeding $10,000 to acquire or improve an asset with an anticipated life exceeding one year and includes land acquisition, construction, repair or structural improvement of a facility, engineering and design for a facility, and acquisition or repair of equipment.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 07. Executive Budget Act › Sec. 37.07.010. Statement of policy.

It is the purpose of this chapter to establish a comprehensive system for state program and financial management that furthers the capacity of the governor and legislature to plan and finance the services that they determine the state will provide for its citizens. The system must include procedures for
(1) the orderly establishment, continuing review, and periodic revision of the program goals and policies of state agencies and financial goals and policies of the state;
(2) the development, coordination, and review of long-range program and financial plans that will implement established state goals and policies;
(3) the preparation, coordination, analysis, and enactment of a budget that is organized to focus on the services provided by state agencies and on the cost of those services and that provides for implementation of policies and plans, in the succeeding budget period;
(4) the evaluation of alternatives to existing policies, plans, and procedures that offer potential for more efficient state services;
(5) the regular appraisal and reporting of program performance;
(6) public participation in the development of the annual budget, including opportunity for the public to review and comment upon the plans and programs of the Office of the Governor and all state agencies in the executive branch, the legislature, the judicial system, the University of Alaska, and the public corporations of the state.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 07. Executive Budget Act › Sec. 37.07.016. Governor's use of mission statements.

To carry out the executive power under art. III, sec. 1 and sec. 16, Constitution of the State of Alaska, the governor shall use the mission statements and desired results issued by the legislature as a guide to implement and execute the law. The governor shall assure that each agency complies with the mission statement and achieves the desired results identified by the legislature.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 07. Executive Budget Act › Sec. 37.07.045. Debt affordability analysis.

The Department of Revenue shall prepare a report that includes an inventory of state bonded debt, an estimate of state bonded debt that will be acquired within the next three years, and an evaluation of debt affordability. The report must conform to rating agency requirements for a debt affordability study. By January 31 each year, the report must be provided to the legislature for use in budget planning and made available to the public.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 07. Executive Budget Act › Sec. 37.07.062. Capital budget.

(a) Each appropriation bill authorizing capital expenditures required to be submitted to the legislature in AS 37.07.020(a) must be accompanied by documents supporting the expenditures. The documents must list, for each project, the
(1) project identification number;
(2) project title;
(3) source of funding;
(4) amount expended on the project during the preceding fiscal year, the amount authorized for the current fiscal year, the amount proposed to be expended during the succeeding fiscal year, and the amount proposed to be expended each year until project completion;
(5) estimated start for construction;
(6) cost of each subsequent phase with estimated construction start and completion dates, for projects that will be completed in phases; and
(7) schedule of bond elections pertaining to the appropriation, including elections previously held.
(b) [Repealed, § 19 ch 61 SLA 2014.]
(c) [Repealed, § 19 ch 61 SLA 2014.]
(d) [Repealed, § 19 ch 61 SLA 2014.]
2023 Alaska Statutes › Title 37. Public Finance › Chapter 07. Executive Budget Act › Sec. 37.07.070. Legislative review.

The legislature shall consider the governor's proposed comprehensive operating and capital improvements programs, and fiscal plan if it is required under AS 37.07.020(b), evaluate alternatives to the plans, make program selections among the various alternatives, and determine, subject to available revenues, the level of funding required to support authorized state services. The presiding officer of each house may refer the fiscal plan to one or more committees. If the fiscal plan is referred, the first committee of referral shall hold at least one hearing on it. The operating and capital budgets of each agency shall be separately reviewed. During each regular session of the legislature, legislative review of the governor's supplemental appropriation bills and the governor's budget amendments are governed by the following time limits:
(1) requests by the governor for supplemental appropriations for state agency operating and capital budgets for the current fiscal year may be introduced by the rules committee only through the 15th legislative day;
(2) requests by the governor for budget amendments to state agency budgets for the budget fiscal year may be received and reviewed by the finance committees only through the 30th legislative day.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 07. Executive Budget Act › Sec. 37.07.100. Proposed supplemental or special appropriations.

The governor from time to time may transmit to the legislature proposed supplemental or special appropriations in accordance with AS 37.07.070 which in the governor's judgment are necessary. However, if the governor finds that an emergency situation necessitates the proposal of supplemental or special appropriations, the governor may transmit them to the legislature at any time. The governor shall accompany each proposal with a statement of the reasons for it, including the reasons for its omission from the budget.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 07. Executive Budget Act › Sec. 37.07.110. Interpretation of chapter.

This chapter shall be construed as supplemental to all other state laws not in conflict with it. If a section or part of a section of this chapter is in conflict with federal requirements for a program for which federal grant-in-aid funds are available, the section or part, to the extent of the conflict, is inoperative.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 07. Executive Budget Act › Sec. 37.07.120. Definitions.

In this chapter,
(1) “agency” means a department, officer, institution, board, commission, bureau, division, or other administrative unit forming the state government and includes the Alaska Pioneers' Home, the Alaska Veterans' Home, and the University of Alaska, but does not include the legislature or the judiciary;
(2) “allocation” means an amount set out as a legislative guideline for expenditure by a state agency for a stated purpose within the total amount of an appropriation;
(3) “appropriation” means a maximum amount available for expenditure by a state agency for a stated purpose set out in an appropriation act;
(4) “capital projects” and “capital improvements” mean an allocation or appropriation item for an asset with an anticipated life exceeding one year and a cost exceeding $25,000 and include land acquisition, construction, structural improvement, engineering and design for the project, and equipment and repair costs;
(5) “facility operations” means activities and expenses relating to the day-to-day operations of a building or facility, including utilities, janitorial service, security service, snow removal, and direct supervision of related maintenance activities;
(6) “fiscal year” means a year beginning on July 1 of one calendar year and ending on June 30 of the following calendar year;
(7) “maintenance and repair” means the day-to-day scheduled and preventive maintenance effort, including minor repair work, required to keep a building or facility operational and in a continuous state of readiness;
(8) “object of expenditure” means a line item of expenditure within an allocation or an appropriation;
(9) “office” means the Alaska office of management and budget established in the Office of the Governor by AS 44.19.141;
(10) “renewal and replacement” means the scheduled replacement of worn-out major building components and the replacement or retrofitting of obsolete or inefficient building systems in order to maintain or extend the life of a building or facility.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 1. Custodians of State Funds. › Sec. 37.10.010. Disbursements.

The Department of Administration shall
(1) disburse money only upon vouchers certified by the department, establishment, or agency concerned, or an officer or employee of it authorized in writing to certify the vouchers;
(2) make an examination of vouchers necessary to ascertain whether they are in proper form, certified and approved, computed on the basis of the facts certified; and
(3) be held accountable accordingly.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 1. Custodians of State Funds. › Sec. 37.10.030. Responsibility of officer or employee approving or certifying voucher.

(a) The officer or employee approving or certifying a voucher
(1) is responsible for the existence and correctness of the facts recited in the certificate or stated on the voucher or its supporting papers and for the legality of the proposed payment under the appropriation or fund involved;
(2) shall give bond in the form and manner prescribed by AS 39.15 to the state, and approved by the Department of Administration, in an amount fixed by the head of the department, agency, or establishment concerned, under standards prescribed by the Department of Administration; the premium on the bond shall be paid from funds made available for the administrative costs of the department, agency, or establishment concerned; officers already bonded under other provisions of law for the faithful performance of their duties are not required to give additional bond; and
(3) shall be held accountable for and required to make good to the state the amount of an illegal, improper, or incorrect payment resulting from a false, inaccurate, or misleading certificate made by the officer or employee, or a payment prohibited by law or which does not represent a legal obligation under the appropriation or fund involved.
(b) In (a) of this section, an approval or certification of a voucher is effective when an authorized person uses a password assigned by the department if the certification or the voucher itself is prepared and recorded by using an electronic accounting device that is a part of the computerized state accounting systems.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 2. Charges for State Services; Accounting. › Sec. 37.10.050. Charges by state agencies; collection, accounting, and deposit of state money.

(a) A state agency may not charge a fee for the provision of state services unless the fee (1) is set or otherwise authorized by statute; and (2) where a regulation is necessary, is set by or provided for in a regulation that meets the standards of AS 44.62.020 and 44.62.030. Unless specifically exempted by statute, a state agency authorized to collect or receive fees, licenses, taxes, or other money belonging to the state shall account for and remit the receipts, less fees to which the collector is entitled by statute or regulation, to the Department of Revenue at least once each month. The commissioner of administration shall separately account under AS 37.05.142 for receipts deposited under this subsection. A fee or other charge that is set by regulation may not exceed the estimated actual costs of the state agency in administering the activity or providing the service unless otherwise provided by the statute under which the regulation is adopted; however, this limitation does not apply to sale or lease of property by a state agency, fees charged by a resource agency for a designated regulatory service as defined in AS 37.10.058, fees adopted by the Department of Natural Resources under AS 41.21.026(f), AS 44.37.025, and 44.37.027, or fees, rents, tolls, and other charges established or levied by the Department of Transportation and Public Facilities for the use of the Knik Arm bridge and appurtenant facilities.
(b) Money collected for the state shall be deposited by the collector in the nearest bank to the account of the Department of Revenue when the Department of Revenue directs this to be done.
(c) Except as provided in AS 37.10.052(a), each state agency shall annually review fees collected by the agency. By October 1, each state agency shall submit a report to the office of management and budget regarding existing fee levels set by the agency by regulation and adjustments made to fee levels by the agency during the previous fiscal year, and recommended adjustments in fees set by statute that the agency collects. Each year by December 15, the office of management and budget shall submit a report to the Legislative Budget and Audit Committee summarizing the reports and recommendations and the extent to which the fee adjustments have been incorporated in the governor's budget. Within five days after the convening of each regular session of the legislature, the committee shall prepare a report on the status of fee regulations and making recommendations for changes in regulations or statutes as appropriate. The committee shall notify the legislature that the report is available.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 2. Charges for State Services; Accounting. › Sec. 37.10.054. Invoices for designated regulatory services.

(a) Unless a negotiated service agreement reached under AS 37.10.052(b) or (c) provides otherwise, a resource agency charging a fee for providing a designated regulatory service other than a standard designated regulatory service for which a fixed fee has been established under AS 37.10.052(a) shall, on a monthly basis, provide the person who will be billed for the service with an invoice for services performed during that month. The invoice must be reasonably convenient to the reader, and reasonably susceptible to audit. The invoice must set out, in time increments of not greater than one-quarter hour for each employee, and separately for each expenditure, the purpose of the time or expenditure in sufficient detail to permit a reasonable person to determine whether the time or cost was an actual and reasonable direct cost.
(b) If a person believes that an invoice rendered under (a) of this section exceeds the actual and reasonable direct cost of providing the designated regulatory service, the person may, within 30 days after receiving the invoice, request that the resource agency review the invoice. The resource agency shall review the invoice under the standards of this section and issue its final decision on the invoice within 30 days of receipt of a request for review.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 2. Charges for State Services; Accounting. › Sec. 37.10.056. Petitions to adopt regulations.

A person requiring a designated regulatory service from a resource agency may petition the resource agency under AS 44.62.220 and 44.62.230 to adopt regulations that would establish, for a category of designated regulatory services, a fixed fee that is
(1) confined to the distinct economic sector in which the petitioner is or proposes to be engaged;
(2) where necessary, limited by geography, facility size or capacity, or other relevant factors so as to provide a reasonable assurance that only similarly situated regulatory services, with respect to cost, are included within the fixed fee;
(3) likely to be used by the resource agency more than once; and
(4) based on the average reasonable direct cost incurred by the agency in providing the designated regulatory service.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 3. Investment and Deposit of State Funds. › Sec. 37.10.070. Investment of residual money.

(a) The commissioner shall invest, as set out in AS 37.10.071, the money in the state treasury above an amount sufficient to meet immediate expenditure needs. In managing the invested assets, the commissioner shall
(1) consider the status of the assets and liabilities on both a current and a probable future basis;
(2) determine the appropriate investment objectives;
(3) establish investment policies to achieve the objectives; and
(4) act only in regard to the best financial interests of the state.
(b) The commissioner may invest on the basis of probable total rate of return without regard to the distinction between principal and income and without regard to the generation of income.
(c) In this section, “commissioner” means the commissioner of revenue.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 3. Investment and Deposit of State Funds. › Sec. 37.10.075. Deposit of state funds.

(a) When the commissioner of revenue determines that there are funds in the state treasury that are not being used for the purposes provided for in AS 37.10.070, they may be deposited in financial institutions. Collateral may be required by the commissioner to secure state deposits provided for under this section.
(b) The commissioner of revenue may require the banks in which state funds are deposited under a time deposit agreement to pay at least a minimum interest rate to be fixed by the Department of Revenue, and this interest when paid shall be deposited in the general fund or in the other funds that are established by law.
(c) This section does not prohibit the Department of Revenue from depositing the funds that it considers necessary for the proper conduct of the office in solvent banks outside the state under the terms and conditions provided in this section.
(d) The Department of Revenue may deposit funds in banks inside or outside the state without requiring those banks in which the funds are deposited to pay interest on the deposits. It is the intention of the legislature that the department may compensate the banks for handling state disbursements in a manner determined by the commissioner of revenue to be in the best interests of the state.
(e) Banks holding state deposits shall, as a condition of retaining those deposits, submit all information concerning the deposits and other relevant matters that may be requested by the commissioner.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 3. Investment and Deposit of State Funds. › Sec. 37.10.078. Prohibited deposits and investments in certain banks.

The commissioner of revenue may not make investments or deposits with a bank doing business in Alaska that has a general practice of
(1) charging a fee for handling disbursements issued by the state; or
(2) refusing to handle disbursements issued by the state.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 3. Investment and Deposit of State Funds. › Sec. 37.10.085. Financial aid to corporations by state or political subdivision.

(a) Except as provided in AS 14.40.458, (c) or (d) of this section, or AS 37.10.089, neither the state nor a political subdivision of the state may
(1) make a subscription to the capital stock of a corporation;
(2) lend its credit for the use of a corporation; or
(3) borrow money for the use of a corporation.
(b) This section does not apply to debt issued by a municipality or a municipal joint insurance arrangement under AS 21.76.120.
(c) To the extent that the political subdivision is authorized to acquire, own, or operate a public utility, it may exercise that power by acquiring and owning, in a manner consistent with law, all of the capital stock of a corporation that owns or operates a public utility. The political subdivision's authority with respect to lending its credit and borrowing money for the use of the corporation is the same as if the political subdivision had acquired the assets of the corporation.
(d) This section does not apply to investments of the assets of the public employees' retirement system established under AS 39.35 or the teachers' retirement system established under AS 14.25, to the extent the investments are made in the stocks, bonds, and other securities of
(1) a corporation licensed under AS 10.13; or
(2) a corporation attempting to become licensed under AS 10.13 if the corporation intends to use the proceeds to fulfill the tasks necessary to become licensed under AS 10.13.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 3. Investment and Deposit of State Funds. › Sec. 37.10.087. Loans to bond construction funds.

(a) (1) When a construction fund or account established to receive the proceeds of state general obligation bonds is temporarily exhausted, the commissioner of administration on recommendation of the state bond committee may temporarily transfer money from the general fund to the bond construction fund or account.
(2) If the amount of the transfer exceeds 25 percent of the amount authorized for the general obligation bonds, the commissioner of administration shall obtain approval of the transfer from the Legislative Budget and Audit Committee before the transfer.
(3) If a temporary transfer has already been made from the general fund to the bond construction fund or account, additional transfers may be made, but the total amount of the outstanding transfers not returned to the general fund under (d) of this section may not exceed 25 percent of the amount authorized for the general obligation bonds without approval from the Legislative Budget and Audit Committee.
(b) Transfers under (a) of this section may be made only when the commissioner of revenue determines and certifies to the state bond committee that there is in the general fund an amount sufficient to meet current cash expenditure needs of the state.
(c) The amount transferred to a construction fund or account under (a) of this section may not exceed anticipated receipts from the unsold general obligation bonds to be issued and the federal programs receipts estimated to be received for the general obligation bond construction program financed from the construction fund or account.
(d) Money transferred from the general fund under (a) of this section shall be returned to the general fund within 15 months after the transfer.
(e) The commissioner of administration shall notify the Legislative Budget and Audit Committee in writing of a transfer of money from the general fund under (a) of this section.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 3. Investment and Deposit of State Funds. › Sec. 37.10.088. Department of Administration authorized to make advances to the University.

(a) During any fiscal year the Department of Administration may make advances to the University of Alaska against verified receivables from appropriations for grants and contracts from federal or private sources of the university and upon condition that the university reimburse the fund for these advances from funds received by the university from federal or private sources. The advances may not exceed 80 percent of the verified receivables from grants and contracts appropriated from federal or private sources.
(b) The total of advances in a fiscal year may not exceed 10 percent of the total of grants and contracts from federal and private sources appropriated to the university for that fiscal year. The amounts advanced in a fiscal year shall be repaid in full to the department within 120 days following the close of that fiscal year. If the repayment is not made on a timely basis, the department may withhold amounts due from state fund appropriations for the university.
(c) The commissioner of administration shall submit a quarterly report of all advances and reimbursements under this section to the Legislative Budget and Audit Committee.
(d) The department shall establish the procedure for making advances to the university and for securing reimbursement from the university.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 3. Investment and Deposit of State Funds. › Sec. 37.10.089. Loans to the education loan fund; bond purchase agreements and letters of credit.

(a) If the education loan fund (AS 14.42.210) is unable to fully finance loan demand in a fiscal year, the commissioner may invest in the education loan fund for the purpose of financing education loans under AS 14.43.161 - 14.43.175, 14.43.600 - 14.43.750, and AS 14.44.040. The commissioner shall require the corporation to secure the investment of state money.
(b) The commissioner may make investments under (a) of this section only when the commissioner determines that market conditions relating to tax-exempt private activity revenue bonds make the issuance of the bonds by the corporation impracticable or uneconomical for the purpose of financing education loans under AS 14.43.161 - 14.43.175, 14.43.600 - 14.43.750, and AS 14.44.040.
(c) The corporation shall repay money invested under (a) of this section under terms established by the commissioner and agreed to by the corporation. Except as provided in this section, the terms must be consistent with the duties of a fiduciary set out in AS 37.10.071(c).
(d) Notwithstanding any other provision of this section, the commissioner is authorized to enter into an agreement with the corporation to provide a bond purchase agreement and a letter of credit when market conditions relating to those credit enhancement mechanisms are uneconomical. The commissioner may require the corporation to pay the costs associated with providing credit enhancement and may charge the corporation a fee for this service.
(e) The commissioner may charge the corporation interest on the investments under (a) of this section. The rate of interest may not exceed the five-year average return on the state's general fund.
(f) The commissioner may charge the corporation an annual fee for the services provided under (d) of this section. The annual fee may not exceed 0.15 percent of the average principal outstanding and interest covered by the bond purchase agreement and the letter of credit.
(g) If a draw on the bond purchase agreement and the letter of credit occurs under this section, the commissioner may charge the corporation an additional annual rate of interest not to exceed three percent on the bonds held under the bond purchase agreement and letter of credit.
(h) The term of the investment under (a) of this section may not exceed four years and the commitment under (d) of this section may not exceed four years from the commencement of the initial investment, bond purchase agreement, and letter of credit.
(i) The maximum amount of the investment under (a) of this section may not exceed $100,000,000. The maximum amount of the commitment under (d) of this section may not exceed $106,000,000.
(j) The commissioner may adopt regulations under AS 44.62 (Administrative Procedure Act) to implement this section.
(k) In this section,
(1) “commissioner” means the commissioner of revenue;
(2) “corporation” means the Alaska Student Loan Corporation created under AS 14.42.100.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 4. Recovery of Money or Property Illegally Paid or Diverted. › Sec. 37.10.090. Action by attorney general.

Whenever money, funds, or property of a city, school district, municipal government, or the state are illegally paid or are diverted for an illegal purpose, or paid to a person not authorized by law to receive them, they may be recovered by an action instituted by the attorney general. When it appears to the attorney general that it is more advantageous to begin or conduct the action with additional counsel, the attorney general may choose and authorize additional counsel to bring the suit in the name of the proper party.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 4. Recovery of Money or Property Illegally Paid or Diverted. › Sec. 37.10.100. Costs of action and disposition of amount recovered.

(a) The necessary and reasonable costs of the suit and of the additional counsel shall be advanced by the state, and a sum recovered in the suit shall be deposited in the state treasury.
(b) If the sum recovered as described in (a) of this section belongs to a city, school district, or municipal government, the sum shall be transferred to it, less sums advanced by the state in the suit and not already repaid to it. The Department of Administration may disburse to the city, school district, or municipal corporation the sums belonging to it. The disbursements must be based upon vouchers approved by the attorney general.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 5. Vocational Education Account. › Sec. 37.10.200. Vocational education account.

(a) The vocational education account is created in the general fund.
(b) The account consists of
(1) appropriations made by the legislature to the account;
(2) gifts, bequests, and contributions; and
(3) income and earnings of the account.
(c) Money in the vocational education account may be appropriated by the legislature to the state and political subdivisions of the state, including regional educational attendance areas and municipal school districts, for vocational education programs and courses approved by the commissioner of labor and workforce development in consultation with the commissioner of education and early development for any other public purpose.
(d) Nothing in this section dedicates funds for a specific purpose.
(e) In this section, “vocational education” includes vocational training programs and courses taught at the secondary and postsecondary level of education.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 6. Alaska Retirement Management Board. › Sec. 37.10.230. Conflicts of interest.

(a) Trustees are subject to the provisions of AS 39.50.
(b) If a trustee acquires, owns, or controls an interest, direct or indirect, in an entity or project in which assets under the control of the board are invested, the trustee shall immediately disclose the interest to the board. The disclosure is a matter of public record and shall be included in the minutes of the board meeting next following the disclosure. The board shall adopt regulations to restrict trustees from having a substantial interest in an entity or project in which assets under the control of the board are invested.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 6. Alaska Retirement Management Board. › Sec. 37.10.240. Regulations and open meetings.

(a) The board may adopt regulations to implement AS 37.10.210 - 37.10.390. Regulations adopted by the board are not subject to the Administrative Procedure Act (AS 44.62). The board shall adopt regulations required by AS 36.30.015(f) relating to procurement. The board shall comply with the requirements of AS 44.62.310 - 44.62.319 (Open Meetings Act).
(b) Notwithstanding (a) of this section, a regulation adopted under AS 37.10.210 - 37.10.390 shall be published in the Alaska Administrative Register and Alaska Administrative Code for informational purposes. A regulation adopted under this section shall conform to the style and format requirements of the drafting manual for administrative regulations that is published under AS 44.62.050.
(c) At least 30 days before the adoption, amendment, or repeal of a regulation under this chapter, the board shall provide notice of the action that is being considered. The notice must include publication in one or more newspapers of general circulation in each judicial district of the state.
(d) A regulation adopted under this chapter takes effect 30 days after adoption by the board unless a later effective date is stated in the regulation.
(e) Notwithstanding the other provisions of this section, a regulation may be adopted, amended, or repealed, effective immediately, as an emergency regulation. For an emergency regulation to be effective the board must find that the immediate adoption, amendment, or repeal of the regulation is necessary. The board shall, within 10 days after adoption of an emergency regulation, give notice of the adoption under (c) of this section. An emergency regulation adopted under this subsection may not remain in effect past the date of the next regular meeting of the board unless the board complies with the procedures set out in this section and adopts the regulation as a permanent regulation.
(f) In this section, “regulation” has the meaning given in AS 44.62.640(a).
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 6. Alaska Retirement Management Board. › Sec. 37.10.250. Compensation of trustees.

Trustees, other than trustees who are employees of the state, a political subdivision of the state, or a school district or regional educational attendance area in the state, receive an honorarium of $400 for each day spent at a meeting of the board or at a meeting of a subcommittee of the board or at a public meeting as a representative of the board, including a day in which a trustee travels to or from a meeting. Trustees who are state employees are entitled to administrative leave for service as a trustee. Trustees who are employees of a political subdivision of the state or a school district or regional educational attendance area in the state are entitled to leave benefits provided by their employers comparable to those provided to state employees for service as a trustee. Trustees are entitled to per diem and travel expenses authorized for boards and commissions under AS 39.20.180.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 6. Alaska Retirement Management Board. › Sec. 37.10.260. Staff.

(a) The Department of Revenue shall provide staff for the board.
(b) The board may designate a trustee or an officer or employee of the Department of Revenue to be responsible for signing on behalf of the board a deed, contract, or other document that must be executed by or on behalf of the board.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 6. Alaska Retirement Management Board. › Sec. 37.10.270. Investment advisory council.

(a) The board may appoint an investment advisory council composed of at least three and not more than five members. Members of the council shall possess experience and expertise in financial investments and management of investment portfolios for public, corporate, or union pension benefit funds, foundations, or endowments.
(b) Members of the council serve at the pleasure of the board for staggered terms of three years.
(c) The board shall establish the compensation of members of the council. Members of the council are entitled to per diem and travel expenses authorized for boards and commissions under AS 39.20.180.
(d) The council shall
(1) review the investments made by the board;
(2) make recommendations to the board concerning the board's investment policies, investment strategy, and investment procedures;
(3) advise the board on selection of performance consultants and on the form and content of annual reports;
(4) provide other advice as requested by the board.
(e) With approval of the board, the council may contract with other state agencies to provide investment advice.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 6. Alaska Retirement Management Board. › Sec. 37.10.280. Insurance.

The board shall ensure that trusteed assets and its own services are protected. The board may purchase insurance or provide for self-insurance retention in amounts recommended by the commissioner of revenue and approved by the board to cover the acts, including fiduciary acts, errors, and omissions of its board members and agents. Insurance must protect the board and the state from liability to others and from loss of trusteed assets due to the acts or omissions of the trustees.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 6. Alaska Retirement Management Board. › Sec. 37.10.290. Exemption from taxation.

Except as provided in AS 29.45.030(a) for property acquired through foreclosure or deed in lieu of foreclosure, the board and all properties at any time owned by it, managed by it, or held by it in trust, and the income from those activities, are exempt from all taxes and assessments in the state. All security instruments issued by the board and income from them are exempt from all taxes and assessments in the state, including transfer taxes.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 6. Alaska Retirement Management Board. › Sec. 37.10.300. Limitations.

The board may not engage in commercial banking activity or private trust activity. The board may not act as a depository or trustee for a private person, association, or corporation. The board may not act as a lender to a private person, association, or corporation of money from any source except state funds under management by the board.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 6. Alaska Retirement Management Board. › Sec. 37.10.310. Pension forfeiture by public officers convicted of crimes involving corruption.

(a) A public officer, as defined in AS 39.52.960, a legislator, or a person employed as a legislative director, as that term is defined in AS 24.60.990, who is convicted of a federal or state felony offense of bribery, receiving a bribe, perjury, subornation of perjury, scheme to defraud, fraud, mail fraud, misuse of funds, corruption, or tax evasion may not receive a state pension benefit if the offense was committed on or after July 10, 2007 and was in connection with the person's official duties.
(b) Pension benefits and employee contributions that accrue to a person before the date of the person's commission of the offense described in (a) of this section are not diminished or impaired by that subsection.
(c) A state pension benefit under (a) of this section does not include
(1) insurance, voluntary wage reductions, involuntary wage reductions, or supplemental or health benefits under AS 39.30.090 - 39.30.495 or former AS 39.37.145;
(2) member or employee contributions under AS 14.25.050, 14.25.055, 14.25.075, 14.25.340, 14.25.360(a), AS 22.25.011, AS 39.35.160, 39.35.165(f), 39.35.180, 39.35.730, 39.35.760(a), or former AS 39.37.070.
(d) In a pension forfeiture matter under this section, the board may award to a spouse, dependent, or former spouse of the person governed by the limitations in (a) of this section some or all of the amount that, but for the forfeiture under (a) of this section, may otherwise be payable. In determining whether to make an award under this subsection, the board shall consider the totality of circumstances, including
(1) the role, if any, of the person's spouse, dependent, or former spouse in connection with the illegal conduct for which the person was convicted; and
(2) the degree of knowledge, if any, possessed by the person's spouse, dependent, or former spouse in connection with the illegal conduct for which the person was convicted.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 6. Alaska Retirement Management Board. › Sec. 37.10.390. Definitions.

In AS 37.10.210 - 37.10.390, unless the context otherwise requires,
(1) “board” means the board of trustees of the Alaska Retirement Management Board;
(2) “fund” means the fund or funds composed of the assets of each of the retirement systems administered and managed by the board;
(3) “recognized competence” means a minimum of 10 years' professional experience working or teaching in the field of investment management, finance, banking, economics, accounting, pension administration, or actuarial analysis;
(4) “retirement systems” or “systems” means the teachers' retirement system, the judicial retirement system, the Alaska National Guard and Alaska Naval Militia retirement system, the public employees' retirement system, the State of Alaska Teachers' and Public Employees' Retiree Health Reimbursement Arrangement Plan, and the elected public officers' retirement system under former AS 39.37.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 7. Constitutional Budget Reserve Fund. › Sec. 37.10.410. “Administrative proceedings involving taxes” defined.

(a) The following money received by the state is considered to be received as a result of the termination of an administrative proceeding for purposes of applying art. IX, sec. 17(a), Constitution of the State of Alaska:
(1) past due taxes that are received by the state for each tax year for which a request for an informal conference under AS 43.05.240 is made to the Department of Revenue, together with penalties and interest on the taxes;
(2) past due taxes that are received by the state after a request for a formal hearing under AS 43.05.241 is made to the Department of Revenue, together with penalties and interest on the taxes.
(b) Money received by the state under the following conditions is not considered to be received as the result of the termination of an administrative proceeding for purposes of applying art. IX, sec. 17(a), Constitution of the State of Alaska:
(1) taxes that are not due at the time the request for the proceeding was made under AS 43.05.240, 43.05.241, or 43.05.242;
(2) taxes set out in a return not audited by the Department of Revenue at the date of collection; or
(3) taxes collected for a tax year for which the taxpayer did not give notice of appeal of an assessment made by the Department of Revenue.
2023 Alaska Statutes › Title 37. Public Finance › Chapter 10. Public Funds › Article 7. Constitutional Budget Reserve Fund. › Sec. 37.10.420. “Money available for appropriation” defined.

(a) For purposes of applying art. IX, sec. 17(b), Constitution of the State of Alaska,
(1) “the amount available for appropriation” or “funds available for appropriation” means
(A) the unrestricted revenue accruing to the general fund during the fiscal year;
(B) general fund program receipts as defined in AS 37.05.146;
(C) the unreserved, undesignated general fund balance carried forward from the preceding fiscal year that is not subject to the repayment obligation imposed by art. IX, sec. 17(d), Constitution of the State of Alaska; and
(D) the balance in the statutory budget reserve fund established in AS 37.05.540;
(2) “the amount appropriated for the previous fiscal year” means the amount appropriated from the
(A) constitutional budget reserve fund under the authority granted in art. IX, sec. 17, Constitution of the State of Alaska; and
(B) same revenue sources used to calculate the money available for appropriation for the current fiscal year; and
(3) “the amount of appropriations made in the previous calendar year for the previous fiscal year” means appropriations made from sources identified in (2) of this subsection for a fiscal year that were enacted during the calendar year that ends on December 31 of that same fiscal year.
(b) If the amount appropriated from the budget reserve fund has not been repaid under art. IX, sec. 17(d), Constitution of the State of Alaska, the Department of Administration shall transfer to the budget reserve fund the amount of money comprising the unreserved, undesignated general fund balance to be carried forward as of June 30 of the fiscal year, or as much of it as is necessary to complete the repayment. The transfer shall be made on or before December 16 of the following fiscal year.
(c) In this section, “unrestricted revenue accruing to the general fund” or “unreserved, undesignated general fund balance carried forward” is money not restricted by law to a specific use that accrues to the general fund according to accepted principles of governmental or fund accounting adopted for the state accounting system established under AS 37.05.150 in effect on July 1, 1990.
(d) An appropriation under art. IX, sec. 17(b), Constitution of the State of Alaska, requires an affirmative vote of the majority of the members of each house of the legislature. An appropriation under art. IX, sec. 17(c) requires an affirmative vote of three-fourths of the members of each house of the legislature.