Alaska Online Public Notices #2026200280

Alaska Department of Revenue proposes regulations for non-routine state fund investments

This opportunity involves the Alaska Department of Revenue proposing new regulations to govern non-routine investments from several state funds. - Government Buyer: - Alaska Department of Revenue - Applies to constitutional budget reserve fund subaccount, general fund, public school trust fund, and Alaska higher education investment fund - No OEMs or vendors are specified, as this is a regulatory proposal rather than a procurement - Products/Services Requested: - No goods or services are being procured; the regulations establish protocols for fiduciaries managing state investments - Notable Requirements: - Uniform due diligence procedures for unusual, infrequent, high-value, or illiquid investments - Documentation of investment opportunities - Engagement of external auditors and investment consultants - Review by investment advisory council - Notification to relevant state offices - Final review and certification by the attorney general - The regulations aim to ensure transparency, accountability, and adherence to fiduciary standards in state fund management

Description

The Department of Revenue proposes to adopt regulations establishing protocols to be followed by the fiduciary when considering non-routine investments made from certain state funds, including the constitutional budget reserve fund subaccount. The proposed changes include adding 15 AAC 170 to the Alaska Administrative Code, which outlines procedures for documenting, reviewing, and making decisions on non-routine investments. The regulations aim to implement uniform due diligence procedures for assessing non-routine investment opportunities from covered funds. Public comments on the proposed regulations are due by October 2, 2026.

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