Session: State Capitol, Room 423 Juneau, AK 99801-1182 Phone: (907) 465-4940 Fax: (907) 465-3766 Interim: 716 W 4th Avenue, Suite 450 Anchorage, AK 99501-2133 Phone: (907) 269-0106 Fax: (907) 269-0109 145 Main Steet Loop Kenai, AK 99611 Phone: (907) 283-7996 Fax: (907) 283-3075

Sponsor Statement for SB 188
Education Fund/Land Endowment

An Act establishing an education fund and a land endowment for public education; and providing for an effective date.

Providing a quality education for our youth is a high priority. It is an on going challenge each session for the legislators to stretch the available funds in order to cover as much of the educational needs as possible. SB 188 addresses this problem by establishing an education fund and a land endowment.

SB 188 establishes an educational fund as a separate fund of the state. The principal of the fund consists of legislative appropriations as well as gifts, bequests and contributions from individuals. Individuals will be able to contribute part of their Permanent Fund Dividends to the fund if they so choose. The net income of the fund may only be appropriated for public elementary and secondary education.

SB 188 appoints the commissioner of revenue as the treasurer. The Education Fund Board established in the Department of Education and Early Development administers the fund. The powers and duties for both the treasurer and Board are clearly outlined.

The Education Fund Board is entitled to receive the conveyance of 5,000,000 acres of land under Sec. 6(b) of the Alaska Statehood Act. The board will annually submit a list of selections of land to the commissioner of natural resources and the governor. This list will be submitted to the legislature. The legislature may by law approve or disapprove the list of selections. The deadline for making land selections is December 31, 2012.

SB 188 gives the authority to the Education Fund Board to handle the management and disposition of the land. The board shall seek public comment on proposals for development, exchange, or sale of land selections. The land shall be managed in a manner that permits customary and traditional uses of the resources as much as possible.

# # #

Attachments:

• Print Friendly Version
  Requires Adobe Acrobat Reader - 1 page(s) - 5.4K
  

| Sen. Ward's Page |

| Top | Home | Site Search | Breaking News | Legislators | Bills |
| Committees | E-Newsletter | Surveys | Research | Help |

The Official Web Site of the House and Senate Legislative Majorities
for the 22nd Alaska State Legislature
To Report Technical Problems or Contact Webmasters