(a) There is established in the general fund the Alaska capital income fund consisting of money deposited to the fund under AS 37.13.145(d) and of appropriations to the fund. The fund shall be invested by the Department of Revenue to yield competitive market rates as provided in AS 37.10.071. Income earned on money in the fund may be appropriated to the fund.
(b) Money may be appropriated from the Alaska capital income fund for state facilities preventive or deferred maintenance, including replacement of parts, systems, or components, or other activities needed to preserve or maintain state assets, and to cover annual debt service and reserves for debt service on bonds authorized by state law. Nothing in this subsection creates a dedicated fund.