Sec. 46.08.005. Purpose of fund; description of accounts.

208 words·~1 min read·/ak/title-46/chapter-8/46-08-005

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The legislature finds and declares that the release of oil or hazardous substances into the environment presents a real and substantial threat to the public health and welfare, to the environment, and to the economy of the state. The legislature therefore concludes that it is in the best interest of the state and its citizens to provide a fund containing two accounts. Within the fund,

(1)one account consists of money readily available to the commissioner for the payment of the expenses incurred by the department during a response to a release or threatened release of oil or hazardous substances when authorized by AS 46.08.045 and for related purposes intended to address those releases;

(2)the other account consists of money that the state may use during a response to a release of oil or a hazardous substance, other than one described in

(1)of this section, and to a threatened release of oil or a hazardous substance, to pay the expenses of making preparations for the possibility of a release or threatened release of oil or hazardous substances, to reduce the amount, degree, or intensity of a release or threatened release, and for other related purposes identified in law.