1. (a) The department may use the derelict vessel prevention program fund established under AS 30.30.096 to

   1. (1) reimburse

      1. (A) a municipality for a derelict vessel removal from waters of the state and from state or municipal property; or
      2. (B) a state agency, including the department, for a derelict vessel removal from waters of the state and from state or municipal property;
   2. (2) pay for the development and implementation of other derelict vessel prevention program goals;
   3. (3) subsidize a project directly related to the derelict vessel prevention program; and
   4. (4) pay the costs of administering the fund.

2. (b) The department will allocate an annual percentage of money available from the derelict vessel prevention program fund to uses set out in (a) of this section, as follows:

   1. (1) the use set out under (a)(1)(A) of this section will be allocated up to 42.5 percent;
   2. (2) the use set out under (a)(1)(B) of this section will be allocated up to 42.5 percent;
   3. (3) for program development, program implementation, or a project subsidy as set out under (a)(2) and (3) of this section, up to 13 percent collectively; and
   4. (4) for fund administration as set out under (a)(4) of this section, up to two percent.

3. (c) If money from the derelict vessel prevention program fund remains available to the department, the allocation percentages set out under (b) of the section may be exceeded if

   1. (1) the removal of a derelict vessel would prevent substantial environmental or economic harm;
   2. (2) the removal of a derelict vessel would substantially improve ecological or economic function; or
   3. (3) any portion of the annual fiscal year funding available to the department remains unspent after December 31 of each year.

(Eff. 3/26/2025, Register 253)

Authority: AS 30.30.090, AS 30.30.095, AS 30.30.096, AS 30.30.165