This bill amends various sections of Alaska's laws regarding the Alaska Permanent Fund and its dividends. Key changes include the deletion of references to the net income of the fund including the earnings reserve account, and the introduction of new provisions allowing the legislature to appropriate funds from the earnings reserve account to offset inflation on the fund's principal. Additionally, the bill specifies that income from the settlement of the State v. Amerada Hess case will be treated like other income of the Permanent Fund but will not be available for distribution to the dividend fund or for certain appropriations.

Furthermore, the bill introduces a new provision allowing applicants for the Permanent Fund Dividend to direct a portion of their dividend to the state general fund or the principal of the Permanent Fund, with a minimum contribution of $25. It also mandates that the electronic application for the dividend clearly separates this contribution option from other contributions. The bill repeals certain existing provisions and establishes that it will take effect on July 1, 2025.

Statutes affected:
HB0114A, AM HB 114, introduced 02/26/2025: 37.13.140, 37.13.145, 37.05.565, 43.23.025, 43.23.045, 43.23.005, 43.23.021, 43.23.055, 43.23.240, 43.23.028, 43.23.048, 37.13.010, 37.14.150