Sec. 37.13.020. Findings.
120 words·~1 min read·
/ak/title-37/chapter-13/37-13-020A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Sec. 37.13.020. Findings.
The people of the state, by constitutional amendment, have required the placement of at least 25 percent of all mineral lease rentals, royalties, royalty sale proceeds, and federal mineral revenue sharing payments and bonuses received by the state into a permanent fund. The legislature finds with respect to the fund that
(1)the fund should provide a means of conserving a portion of the state's revenue from mineral resources to benefit all generations of Alaskans;
(2)the fund's goal should be to maintain safety of principal while maximizing total return;
(3)the fund should be used as a savings device managed to allow the maximum use of disposable income from the fund for purposes designated by law.