Alaska Statutes: AS 29.60.050. Limitation On Computation and Use of Payments.

Alaska Statutes. Title 29. Municipal Government Chapter 60. State Programs Section 50. Limitation On Computation and Use of Payments.

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AS 29.60.050. Limitation On Computation and Use of Payments.

(a) An equalization entitlement generated by the tax levy of a taxing unit may be used only for authorized expenditures of that taxing unit, but up to 15 percent of the payment of an equalization entitlement generated by areawide revenue of a municipality may be used by the municipality for areawide or nonareawide purposes at the discretion of its governing body. This subsection applies to home rule and general law municipalities.
(b) An equalization entitlement determined with reference to revenue other than revenue obtained from the levy and collection of taxes may be used for areawide or nonareawide purposes, at the discretion of the governing body.

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