Alaska2026Passed Legislature
HB209
HB 209: Changes to Alaska Permanent Fund Dividend Amount and Income Limits
Last scannedSep 10, 2026, 12:32 AM
In one sentence
This bill sets the permanent fund dividend at $1,000 for eligible residents who meet new income limits and changes how net income is calculated by excluding unrealized gains or losses.
What it does
- Sets the permanent fund dividend amount at exactly $1,000 per eligible resident instead of using a formula based on past earnings averages.
- Requires applicants to have an adjusted gross income of $50,000 or less if filing single and $100,000 or less if married filing jointly.
- Allows the legislature to choose how much money from the Earnings Reserve Account goes toward dividends rather than requiring automatic transfers.
- Excludes income earned from a specific legal settlement with Amerada Hess from being used for dividend payments.
- Updates rules so that net income calculations do not include unrealized gains or losses on investments.
Who it affects
- Alaska residents who apply for the permanent fund dividend and have incomes below the new limits.
- The Alaska Legislature, which will decide how much money to appropriate from the Earnings Reserve Account each year.
- Residents with federal adjusted gross income above $50,000 (single) or $100,000 (married filing jointly), who become ineligible for the dividend.
Limits and unknowns
- The bill text does not state when these changes will officially take effect.
- It is unclear how much money remains in the Earnings Reserve Account to fund $1,000 payments for all eligible residents each year.
- The final status of the bill depends on actions by the Governor after it passed the Legislature.
Plain language
Terms to know
- Earnings Reserve Account
- A specific account within the Alaska Permanent Fund that holds money earned from investments to be used for dividends or other state needs.
- Adjusted Gross Income
- The total income a person reports on their federal tax return after certain deductions are taken out, which determines if they qualify for the dividend.
Official record
Sources
Official summary
PERMANENT FUND DIVIDEND: INCOME THRESHOLD An Act relating to the Alaska permanent fund; relating to income of the Alaska permanent fund; relating to the amount available for appropriation and appropriations from the earnings reserve account; relating to the permanent fund dividend; and providing for an effective date.
Official activity
Bill history
- (H) <Bill Hearing Canceled> -- MEETING CANCELED --Text
- (H) JUDICIARY at 01:00 PM GRUENBERG 120Text
- (H) Minutes (HJUD)Min
- (H) Heard & HeldText
- (H) JUDICIARY at 01:00 PM GRUENBERG 120Text
- (H) REFERRED TO JUDICIARY937
- (H) JUD, FIN937
- (H) READ THE FIRST TIME - REFERRALS937