(a) There is established as a separate endowment trust fund the public school trust fund.
(b) The principal of the fund established in (a) of this section consists of

(1) the balance of the public school permanent fund on July 1, 1978; and
(2) sums transferred under Alaska Stat. § 37.14.150.
(c)[Repealed Sec. 9 ch 80 SLA 2018.]