AK SB224

Establishes the Alaska Marine Highway System Fund as a separate fund in the state treasury, removing it from the general fund, to receive gross revenues, legislative appropriations for stable services, and other appropriated money with balances that do not lapse.

Creates AS 37.10.440 requiring the Department of Administration to transfer unreserved, undesignated general fund balance to the budget reserve fund by December 16 to repay amounts appropriated from the budget reserve fund under Alaska Constitution Article IX, Section 17(d).

Establishes the Alaska Higher Education Investment Fund as a separate fund in the state treasury, removing it from the general fund, to receive appropriations, investment income, donations, and redeposited money with balances that do not lapse.

Repeals AS 37.10.420.

Takes effect June 30, 2022.