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AK HB86

Bill

Official Source

Status

Introduced

1/30/2015

Primary Sponsor

Unknown

Origin

House of Representatives

29th Legislature

AI Summary

  • Removes the requirement that the power cost equalization endowment fund achieve "at least a seven percent" nominal return on investment
  • Replaces the specific return target with language requiring the commissioner of revenue to invest the fund "in a manner likely to achieve a nominal return over time to meet the objectives" of the power cost equalization and rural electric capitalization fund
  • Maintains the commissioner of revenue's role as fiduciary with the same powers and duties provided under AS 37.10.071
  • Takes effect immediately upon enactment

Legislative Description

Pce Endowment Fund Investment

Utilities

Last Action

REFERRED TO FINANCE

2/23/2015

Committee Referrals

Finance2/23/2015
Labor & Commerce1/30/2015

Full Bill Text

No bill text available