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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

Validated

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

  1. (H) <Bill Hearing Canceled> -- MEETING CANCELED --Text
  2. (H) JUDICIARY at 01:00 PM GRUENBERG 120Text
  3. (H) Minutes (HJUD)Min
  4. (H) Heard & HeldText
  5. (H) JUDICIARY at 01:00 PM GRUENBERG 120Text
  6. (H) REFERRED TO JUDICIARY937
  7. (H) JUD, FIN937
  8. (H) READ THE FIRST TIME - REFERRALS937