(a) The community assistance fund is established in the general fund for the purpose of making community assistance payments to municipalities, reserves, and communities for any public purpose. The fund consists of appropriations. Income earned on money in the fund may be appropriated to the fund. Money in the fund does not lapse.
Terms Used In Alaska Statutes 29.60.850
Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
state: means the State of Alaska unless applied to the different parts of the United States and in the latter case it includes the District of Columbia and the territories. See Alaska Statutes 01.10.060
(b) Each fiscal year, the legislature may appropriate to the community assistance fund money received by the state during the previous calendar year under Alaska Stat. § 43.20.030 (c). The amount may not exceed the greater of
(1) $30,000,000; or (2) the amount that, when added to the fund balance on June 30 of the previous fiscal year, equals $90,000,000. (c) The balance in the community assistance fund shall be determined on June 30 of each year. If the fund balance is at least $15,000,000 , without further appropriation, the department shall distribute one-third of that amount as community assistance payments for the immediately following fiscal year. Otherwise, no payments may be made.(d) Notwithstanding the guidelines in (b) of this section, the legislature may appropriate any amount to the community assistance fund. Nothing in this section creates a dedicated fund.
