AK HB130

Repeals the Alaska Higher Education Investment Fund, Civil Legal Services Fund, Power Cost Equalization Endowment Fund, Power Cost Equalization and Rural Electric Capitalization Fund, and Curriculum Improvement and Best Practices Fund, with unexpended amounts transferred to the general fund.

Changes scholarship and grant funding mechanisms by allowing the Department of Education to seek appropriations directly rather than drawing from the repealed Alaska Higher Education Investment Fund.

Modifies community assistance funding by removing references to specific fund availability requirements and allowing the legislature to appropriate funds directly for community assistance payments based on a $300,000 basic amount per fiscal year.

Eliminates the Alaska Higher Education Investment Fund as an eligible recipient for tax credits under the floating fisheries business tax credit program and other business tax credit statutes.

Takes effect July 1, 2019, with transition provisions allowing existing litigation, regulations, and contracts related to repealed funds to continue in effect.