Bill > SB109

This bill modifies the management and distribution of the Alaska Permanent Fund (APF), which is a state-owned investment fund funded by oil revenues. The key changes include adjusting how the fund's income is calculated and distributed. Specifically, the bill changes the annual calculation of available funds from the previous method of using 21 percent of net income over five years to a new method of using five percent of the average market value of the fund over six years. The percentage of income transferred to the dividend fund is reduced from 50 percent to 25 percent, meaning Alaskans will receive smaller permanent fund dividend payments. The bill also shifts the decision-making power from the Alaska Permanent Fund Corporation to the legislature, giving lawmakers more control over how funds are appropriated. Additionally, the bill removes some previous provisions related to fund transfers and clarifies how income from specific legal settlements will be treated. These changes aim to provide more stability and flexibility in managing the state's primary financial resource, while potentially reducing the size of individual dividend checks to help balance the state's budget.

Budget and Finance

https://www.akleg.gov/basis/Bill/Detail/34?Root=SB109