AK SB81

Establishes legislative findings that the University of Alaska lost revenue from unfulfilled 1915 Congressional land grants and directs the legislature to redress this loss while maintaining unrestricted appropriation authority.

Amends AS 37.05.555 to expand the University of Alaska building fund to include deposits made by the commissioner of revenue under a new statute.

Creates AS 37.05.558 requiring the commissioner of revenue to transfer one-half of one percent of total receipts from state land management (including sales proceeds, lease rentals, royalties, and federal mineral revenue sharing) to the University of Alaska building fund each fiscal year.

Specifies the fund transfer is not a dedicated fund and explicitly preserves legislative discretion to appropriate university receipts without restrictions on an annual basis.

Applies the revenue transfer requirement only to state land leases, sales, contracts, or other agreements entered into, renewed, or extended beyond their original term after January 1, 2016.