This bill amends the computation of the amount available for appropriation from the Alaska permanent fund. It repeals and reenacts AS 37.13.140(b), establishing a fixed percentage of the average market value of the fund for the first five of the preceding six fiscal years. The new percentages for fiscal years ending June 30, 2029, through June 30, 2033, are set at 4.9%, 4.8%, 4.7%, 4.6%, and 4.5%, respectively. After June 30, 2033, the percentage will remain at 4.5%. Additionally, the bill clarifies that the amount available for appropriation does not vary annually as previously stated.

Furthermore, the bill introduces a new subsection (c) to AS 37.13.140, which defines "average market value of the fund" to include the balance of the earnings reserve account but excludes the portion of the principal related to the settlement of State v. Amerada Hess. The effective date for the changes in Section 2 is set for July 1, 2032, while the rest of the Act will take effect on July 1, 2028.

Statutes affected:
SB0274A, AM SB 274, introduced 03/05/2026: 37.13.140