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Alaska2026Passed Legislature

SB109

Changes to Alaska Permanent Fund Income and Dividends

Last scannedSep 21, 2026, 12:32 AM

In one sentence

This bill changes how income from the Alaska Permanent Fund is calculated by excluding unrealized gains, sets new rules for moving money between funds for state spending or dividends, and requires that income from a specific legal settlement be placed in a separate fund.

What it does

  • Excludes any unrealized gains or losses when calculating the net income of the Permanent Fund annually.
  • Sets aside five percent of the average market value of the fund for the first five of the preceding six fiscal years as money available for appropriation, but limits this amount to what is in the earnings reserve account.
  • Requires that 25 percent of the income available for appropriation be moved from the general fund to the dividend fund instead of the previous 50 percent.
  • Allows the legislature to appropriate money from the earnings reserve account to offset inflation on the principal, but excludes any increase in value related to a specific legal settlement against Amerada Hess.
  • Requires that all income earned from the State v. Amerada Hess legal settlement be deposited into the Alaska capital income fund instead of being used for general spending or dividends.

Who it affects

  • The Alaska Permanent Fund Corporation
  • Alaska state legislators who approve budget appropriations
  • Residents of Alaska eligible to receive a permanent fund dividend

Limits and unknowns

  • The bill does not state the exact dollar amount of future dividends because that depends on market values and inflation rates.
  • Income from the Amerada Hess legal settlement is strictly limited to being deposited in a separate fund and cannot be used for other purposes.

Plain language

Terms to know

Earnings Reserve Account
A specific part of the Permanent Fund that holds money earned from investments, which can be used for dividends or state spending under new rules.
Unrealized Gains or Losses
Changes in the value of investments that have not been sold yet; these are now excluded when calculating fund income.
Dividend Fund
The account where money is placed to be paid out as cash dividends to eligible Alaska residents.

Official record

Sources

Validated
Official bill pageIntroduced textCurrent bill text

Official summary

PERMANENT FUND DIVIDEND; POMV SPLIT 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. (S) Minutes (SFIN)Min
  2. (S) Heard & HeldText
  3. (S) FINANCE at 09:00 AM SENATE FINANCE 532Text
  4. (S) REFERRED TO FINANCE343
  5. (S) FIN343
  6. (S) READ THE FIRST TIME - REFERRALS343