AK SB37

Establishes a transportation infrastructure fund as a special fund in the general fund, to be managed as an endowment by the Commissioner of Revenue with a goal of maintaining purchasing power and achieving at least a six percent real rate of return.

Directs revenue from state fuel taxes on motor vehicles and aircraft, motor vehicle registration fees, and other appropriations into the transportation infrastructure fund instead of the general fund.

Authorizes the legislature to appropriate annually an amount equal to six percent of the average market value of fund assets over the preceding five fiscal years for capital projects related to transportation and related facilities.

Establishes a Transportation Infrastructure Fund Advisory Council consisting of eight members, including legislative committee chairs, the transportation commissioner, and public members, to make annual recommendations on project funding.

Appropriates $1,000,000,000 to the transportation infrastructure fund upon its establishment, effective July 1, 2011.