SB 110 Summary

• Repeals five funds: the civil legal services fund, power cost equalization endowment fund, power cost equalization and rural electric capitalization fund, curriculum improvement and best practices fund, and Alaska higher education investment fund.

• Changes education grant and scholarship funding from dedicated fund sources to discretionary legislative appropriations for the Alaska education grant account and Alaska performance scholarship award account.

• Modifies community assistance payments by replacing references to fund availability with appropriated amounts, maintaining the $300,000 basic payment level subject to pro rata reduction if insufficient appropriations exist.

• Eliminates the power cost equalization fund as a dedicated funding source and establishes grants instead as dependent on legislative appropriations for equalizing statewide electricity costs.

• Directs the Department of Revenue to return unexpended donations from repealed funds to original donors, with remaining unexpended amounts placed into the general fund; takes effect July 1, 2019.