You can also go to The Alaska Legal Resource Center or search the entire website.
Touch N' GoŽ, the DeskTop In-and-Out Board makes your office run smoother. Visit
Touch N' Go's Website to see how.
|
|
- Alaska Statutes.
- Title 44. State Government
- Chapter 88. Alaska Industrial Development and Export Authority
- Section 88. Payment of Dividend to State.
previous: Section 85. Administrative Procedure.
next: Section 90. Bonds of the Authority.
AS 44.88.088. Payment of Dividend to State.
- (a) The authority shall adopt a policy for payment of a dividend to the state each fiscal year. The amount of the dividend
for a fiscal year may not be less than 25 percent nor more than 50 percent of the net income of the authority for the
base fiscal year. In no event, however, shall the dividend for a fiscal year exceed the total unrestricted net income
of the authority for the base fiscal year. The dividend for a fiscal year shall be made available by the authority
before the end of that fiscal year. The authority shall notify the commissioner of revenue when the dividend for a
fiscal year is available for appropriation.
- (b) In this section,
- (1) "base fiscal year" means the fiscal year ending two years before the end of the fiscal year in which the payment is
made;
- (2) "net income" means the authority's change in net assets as set out in the audited financial statements of the
authority for the base fiscal year, excluding amounts attributable to intergovernmental transfers, capital
contributions, grants, or impairment losses on development projects financed under AS 44.88.172
;
- (3) "unrestricted net income" means the authority's unrestricted change in net assets as set out in the audited financial
statements of the authority for the base fiscal year, excluding amounts attributable to intergovernmental transfers,
capital contributions, grants, or impairment losses on development projects financed under AS 44.88.172
.
Note to HTML Version:
This version of the Alaska Statutes is current through December, 2004. The Alaska Statutes were automatically converted to HTML from a plain text format. Every effort
has been made to ensure their accuracy, but this can not be guaranteed. If it is critical that the precise terms of the Alaska Statutes be known, it is recommended that more formal sources be consulted. For statutes adopted after the effective date of these statutes, see, Alaska State Legislature
If any errors are found, please e-mail Touch N' Go systems at E-mail. We
hope you find this information useful.
Last modified 9/3/2005