Keeping Law SimpleLegislation, clearly explained
Back to Alaska
Alaska2026Passed Legislature

HB114

HB 114: Changes to Alaska Permanent Fund Dividends

Last scannedSep 12, 2026, 4:46 AM

In one sentence

This bill changes how income from mineral resources is used for dividends and updates rules about inflation adjustments, fund transfers, and public notices.

What it does

  • Removes the rule that limits dividend income based on a five-year average of net earnings.
  • Allows the legislature to move money from the Earnings Reserve Account into the main Permanent Fund principal to offset inflation, but excludes amounts tied to the Amerada Hess legal settlement.
  • Requires interest earned from past legal settlements with Amerada Hess and related contracts to be sent to the Alaska Capital Income Fund instead of being used for dividends or inflation adjustments.
  • Limits how much money can be taken from the Earnings Reserve Account each year based on available income amounts under AS 37.13.140(b).
  • Updates the formula and public notice requirements for calculating and announcing the yearly dividend amount, including details about legislative appropriations and reductions.
  • Allows the legislature to appropriate up to 69 percent of mineral lease rentals, royalties, royalty sale proceeds, federal mineral revenue sharing payments, and bonuses from mineral leases into the dividend fund.

Who it affects

  • Alaska residents who receive permanent fund dividends
  • State agencies that manage mineral revenue and state funds

Limits and unknowns

  • The exact effective date of these changes is not listed in the source material.
  • Future dividend amounts depend on how much money comes from minerals and other sources, which can change each year.
  • The bill text provided ends before listing all specific accounts receiving new mineral revenue transfers.

Plain language

Terms to know

Earnings Reserve Account
A part of the Permanent Fund where earnings are kept before being moved to other accounts.
Principal
The original amount of money in a fund, separate from any new income or interest it earns.
Mineral lease rentals and royalties
Payments made to the state by companies that extract oil, gas, or minerals on public land.

Official record

Sources

Validated
Official bill pageIntroduced textCurrent bill text

Official summary

PERMANENT FUND, PERM FUND DIVIDENDS An Act relating to the Alaska permanent fund; relating to permanent fund dividends; relating to the use of state income from mineral lease rentals, royalties, royalty sale proceeds, federal mineral revenue sharing payments, and bonuses from mineral leases; relating to contributions from permanent fund dividends to the general and permanent funds; and providing for an effective date.

Official activity

Bill history

  1. (H) Minutes (HSTA)Min
  2. (H) <Bill Hearing Canceled> -- Delayed to 4:15 pm--Text
  3. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120Text
  4. (H) -- Public Testimony <Time Limit May Be Set> -- -- MEETING CANCELED --Text
  5. (H) STATE AFFAIRS at 01:00 PM GRUENBERG 120Text
  6. (H) Minutes (HSTA)Min
  7. (H) Scheduled but Not HeardText
  8. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120Text
  9. (H) -- MEETING CANCELED --Text
  10. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120Text
  11. (H) Minutes (HSTA)Min
  12. (H) Scheduled but Not HeardText
  13. (H) STATE AFFAIRS at 03:15 PM GRUENBERG 120Text
  14. (H) REFERRED TO STATE AFFAIRS250
  15. (H) STA, FIN250
  16. (H) READ THE FIRST TIME - REFERRALS250