Sec. 46.08.010. Fund established.

132 words·~1 min read·/ak/title-46/chapter-8/46-08-010

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(a)There is established in the state general fund the oil and hazardous substance release prevention and response fund. The fund shall be administered by the commissioner. The fund is composed of two accounts,

(1)the oil and hazardous substance release prevention account;

(2)the oil and hazardous substance release response account.

(b)Money from an appropriation made to an account in the fund remaining in that account at the end of a fiscal year does not lapse and remains available for expenditure in successive fiscal years.

(c)The fund shall be used for actual expenses incurred under AS 46.08.040 . Except as provided in AS 46.08.040 (a)(2)(D) for the acquisition, repair, or improvement of assets as preparedness measures, the fund may not be used for capital improvements.