AK HB395

Establishes the Alaska marine highway system fund as a special account outside and separate from the general fund, administered by the commissioner of transportation and public facilities without requiring further legislative appropriation.

Fund sources include gross revenue from the Alaska marine highway system, general fund appropriations, and designated federal receipts appropriated by the legislature.

Authorizes the commissioner to expend fund money for system operations, property management, contracts with federal/local/foreign governments, and grants, consistent with the program and financial plan.

Establishes the Alaska marine highway system vessel replacement fund as a separate fund outside the general fund, administered by the commissioner who may expend money for vessel refurbishment, acquisition, and replacement without further appropriation.

Changes the annual operating cycle definition from the state fiscal year (July 1 - June 30) to the calendar year (January 1 - December 31) and takes effect June 30, 2022.