AK SB11

Repeals and reenacts AS 34.77.030(h) to establish that appreciation and income of property transferred to a community property trust are community property, unless the trust expressly provides otherwise.

Applies the new provision to any community property trust that exists on or after May 23, 1998.

Makes Section 1 retroactive to May 23, 1998, meaning the law applies back to that date.

Protects pending court actions and proceedings by providing that the act does not affect cases begun before the effective date.

Sections 1 and 4 take effect immediately upon enactment under AS 01.10.070(c).