(a) The broadband parity adjustment fund is created as a separate fund in the treasury for the purpose of
- (1) offsetting the costs of broadband services for consumers under (b) of this section; and
- (2) making grants to eligible beneficiaries under (c) of this section to improve the performance of and access to broadband across the state.
- (b) The office of broadband shall set the criteria for offsetting the costs of broadband services for consumers in the state by regulation.
- (c) An eligible beneficiary may include a resident, business, nonprofit organization, local government, tribal organization as defined in 25 U.S.C. 5304(l), or Native entity as defined in 15 U.S.C. 9501(10) in the state, but may not include a school district, library, or health care facility.
(d) The broadband parity adjustment fund shall be administered by the office of broadband. The fund consists of
- (1) money appropriated by the legislature;
- (2) gifts, bequests, contributions from other sources, and federal money; and
- (3) interest earned on the fund balance.
- (e) The legislature may appropriate money from the broadband parity adjustment fund to the office of broadband to carry out the purposes of the fund.
- (f) The broadband parity adjustment fund is not a dedicated fund.
(g) In this section,
- (1) “health care facility” has the meaning given in AS 18.23.400(n).
- (2) “school district” has the meaning given in AS 14.30.350.