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SB274 • 2026

PERMANENT FUND POMV AVAILABLE FOR APPROP

An Act relating to the computation of the amount available for appropriation from the Alaska permanent fund; and providing for an effective date.

Budget
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
SENATE FINANCE
Last action
2026-04-01
Official status
(S) RLS
Effective date
Not listed

Plain English Breakdown

The official source provides two different effective dates: Section 2 takes effect on July 1, 2032, while the rest of the Act takes effect on July 1, 2028. This staggered implementation is a key detail.

SB 274: Changes to Alaska Permanent Fund Appropriation Rules

This bill changes how the state calculates money available from the Alaska Permanent Fund by setting specific percentages for future years and clarifying which fund balances count.

What This Bill Does

  • Sets a schedule of decreasing percentages used to calculate funds available for spending starting in fiscal year ending June 30, 2029.
  • Establishes a permanent rate of 4.5 percent beginning with the fiscal year ending June 30, 2033.
  • Defines 'average market value' to include the earnings reserve account balance.
  • Excludes money from the State v. Amerada Hess settlement when calculating the fund's average market value.

Who It Names or Affects

  • The Alaska Permanent Fund Corporation
  • State agencies that receive appropriations from the permanent fund

Terms To Know

Appropriation
Money officially set aside by the government for a specific use.
Average market value of the fund
The average worth of the permanent fund over five years, including earnings reserves but excluding certain settlement money.

Limits and Unknowns

  • The bill does not state how much total money will be available because it depends on future market values.
  • Section 2 of this Act takes effect July 1, 2032, while the rest of the Act takes effect July 1, 2028.

Bill History

  1. 2026-04-01 Text

    (S) Moved SB 274 Out of Committee

  2. 2026-04-01 Text

    (S) FINANCE at 09:00 AM SENATE FINANCE 532

  3. 2026-04-01 2124

    (S) REFERRED TO RULES

  4. 2026-04-01 2124

    (S) FN1: (REV)

  5. 2026-04-01 2124

    (S) DP: OLSON, STEDMAN, HOFFMAN, KAUFMAN, CRONK, MERRICK, KIEHL

  6. 2026-04-01 2124

    (S) FIN RPT 7DP

  7. 2026-03-25 Text

    (S) Heard & Held

  8. 2026-03-25 Text

    (S) FINANCE at 09:00 AM SENATE FINANCE 532

  9. 2026-03-18 Text

    (S) Heard & Held -- Rescheduled from 3/17/26 --

  10. 2026-03-18 Text

    (S) FINANCE at 01:30 PM SENATE FINANCE 532

  11. 2026-03-17 Text

    (S) -- MEETING CANCELED --

  12. 2026-03-17 Text

    (S) FINANCE at 01:30 PM SENATE FINANCE 532

  13. 2026-03-12 Text

    (S) Heard & Held -- Please Note Time Change --

  14. 2026-03-12 Text

    (S) FINANCE at 01:30 PM SENATE FINANCE 532

  15. 2026-03-05 1846

    (S) FIN

  16. 2026-03-05 1846

    (S) READ THE FIRST TIME - REFERRALS

Official Summary Text

PERMANENT FUND POMV AVAILABLE FOR APPROP
An Act relating to the computation of the amount available for appropriation from the Alaska permanent fund; and providing for an effective date.

Current Bill Text

Read the full stored bill text 
SB0274A -1- SB 274
New Text Underlined [DELETED TEXT BRACKETED]

34-LS1549\I

SENATE BILL NO. 274

IN THE LEGISLATURE OF THE STATE OF ALASKA

THIRTY-FOURTH LEGISLATURE - SECOND SESSION

BY THE SENATE FINANCE COMMITTEE

Introduced: 3/5/26
Referred: Finance

A BILL

FOR AN ACT ENTITLED

"An Act relating to the computation of the amount available for appropriation from the 1
Alaska permanent fund; and providing for an effective date." 2
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 3
* Section 1. AS 37.13.140(b) is repealed and reenacted to read: 4
(b) The corporation shall determine the amount available for appropriation 5
each year. The amount available for appropriation each fiscal year is the following 6
percentage of the average market value of the fund for the first five of the preceding 7
six fiscal years, including the fiscal year just ended, computed annually for each listed 8
fiscal year in accordance with generally accepted accounting principles: 9
FOR THE FISCAL YEAR ENDING PERCENTAGE 10
June 30, 2029 4.9 11
June 30, 2030 4.8 12
June 30, 2031 4.7 13
June 30, 2032 4.6 14
34-LS1549\I
SB 274 -2- SB0274A
New Text Underlined [DELETED TEXT BRACKETED]

June 30, 2033, and thereafter 4.5. 1
* Sec. 2. AS 37.13.140(b), as repealed and reenacted by sec. 1 of this Act, is amended to 2
read: 3
(b) The corporation shall determine the amount available for appropriation 4
each year. The amount available for appropriation [EACH FISCAL YEAR] is 4.5 5
percent [THE FOLLOWING PERCENTAGE] of the average market value of the 6
fund for the first five of the preceding six fiscal years, including the fiscal year just 7
ended, computed annually for each [LISTED] fiscal year in accordance with generally 8
accepted accounting principles [: 9
FOR THE FISCAL YEAR ENDING PERCENTAGE 10
JUNE 30, 2029 4.9 11
JUNE 30, 2030 4.8 12
JUNE 30, 2031 4.7 13
JUNE 30, 2032 4.6 14
JUNE 30, 2033, AND THEREAFTER 4.5]. 15
* Sec. 3. AS 37.13.140 is amended by adding a new subsection to read: 16
(c) In this section, "average market value of the fund" includes the balance of 17
the earnings reserve account established under AS 37.13.145, but does not include that 18
portion of the principal attributed to the settlement of State v. Amerada Hess, et al., 19
1JU-77-847 Civ. (Superior Court, First Judicial District). 20
* Sec. 4. Section 2 of this Act takes effect July 1, 2032. 21
* Sec. 5. Except as provided in sec. 4 of this Act, this Act takes effect July 1, 2028. 22