REAA FUND: MT. EDGECUMBE, TEACHER HOUSING, the official text

Enrolled HB 174 
 Relating to the regional educational attendance area and small municipal school district fund; 
 relating to Mt. Edgecumbe High School; and relating to teacher housing. 
 _______________ 
 * Section 1. AS 14.11.025(a) is amended to read: 
 (a) In addition to other appropriations and funding sources, the department 
 may make disbursements [PROVIDE GRANT FUNDING] from the fund 
 established under AS 14.11.030 to 
 (1) provide grant funding to a school district that is a regional 
 educational attendance area or a small municipal school district; 
 (2) fund construction and major maintenance projects at Mt. 
 Edgecumbe High School; and 
 (3) fund major maintenance projects for housing that is 
 (A) owned by the state, a regional educational attendance 
 area, or a small municipal school district;

(B) located in a regional educational attendance area or a 
 small municipal school district; and 
 (C) provided to teachers working in the regional 
 educational attendance area or the small municipal school district. 
 * Sec. 2. AS 14.11.030(a) is amended to read: 
 (a) The regional educational attendance area and small municipal school 
 district school fund is created as an account in the general fund to be used, in addition 
 to other funding sources, to fund projects approved under AS 14.11.025 for the costs 
 of school construction and major maintenance in regional educational attendance 
 areas, in [AND] small municipal school districts, and at Mt. Edgecumbe High 
 School and for major maintenance projects for teacher housing described in 
 AS 14.11.025(a)(3). The primary function of the fund is to fund school construction 
 projects. 
 * Sec. 3. AS 14.11.030(b) is amended to read: 
 (b) Legislative appropriations, including appropriations of interest earned on 
 the fund, shall be deposited in the fund established under this section. [THE 
 UNOBLIGATED AND UNEXPENDED CASH BALANCE OF THE FUND MAY 
 NOT EXCEED $70,000,000.]