HB 190 Summary

• Establishes the Alaska children's trust grant account as a separate account in the general fund to receive appropriations from multiple sources including the trust principal, special license plate fees, birth certificate fees, and marriage certificate fees.

• Modifies the Alaska children's trust to be managed as an endowment by the commissioner of revenue with a goal of maintaining purchasing power and achieving at least a five percent real rate of return on investments.

• Allows the legislature to appropriate annually five percent of the average market value of the trust (calculated from the preceding three fiscal years) to the grant account for child abuse and neglect prevention programs.

• Exempts the Alaska children's trust and Alaska Children's Trust Board from state procurement code requirements.

• Creates special request Alaska children's trust license plates with a $100 fee, with excess revenues directed to the grant account.