8 AAC 98.440. Income and set-aside fund

(a) Except as provided in (b) of this section the monthly net profit of a vending facility is a licensee's monthly income under the vending facility program.

(b) The division will augment the income of a licensee up to the state minimum wage when the licensee's income is below the state minimum wage and

(1) the licensee has been licensed six months or less; or

(2) the vending facility has been in operation for six months or less.

(c) If a majority of licensees approves, the division will establish a set-aside fund from the net profits of the licensees' vending facilities to provide assistance under 8 AAC 98.430(d) (1) - (6) when revenues from 8 AAC 98.430(a) are insufficient.

(d) If the division establishes a set-aside fund, it will state in writing the assessment for each vending facility and, in the case of vending facilities on federal property, will submit the set-aside plan to the commissioner of rehabilitation services for his review and approval as required by 34 C.F.R. 395.3(a)(11)(IV).

(e) Set-aside profits from vending facilities on federal property will be accounted for separately from those derived from vending facilities on state property, and will be expended in accordance with 8 AAC 98.430(d) (1) - (5) to assist only licensees on federal property.

History: Eff. 7/17/83, Register 87

Authority: AS 23.15.020 (c)

AS 23.15.100 (b)

AS 23.15.120

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