The bill proposes the repeal of several inactive state accounts and funds in Alaska, including the home ownership assistance fund, the operating loss reserve account, and the public access fund, among others. Specifically, it targets a total of ten funds and accounts that are deemed inactive or unnecessary, such as the Southeast energy fund and the Alaska Gasline Inducement Act reimbursement fund. The bill aims to streamline state financial management by eliminating these accounts, which may no longer serve their intended purposes.

Additionally, the bill establishes an effective date of June 30, 2025, for these repeals to take effect. By removing these funds from the state's financial framework, the legislation seeks to enhance efficiency and reduce administrative burdens associated with maintaining inactive accounts.