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 bill summary does not provide specific details about how changes will affect future distributions or the state budget.

Alaska Permanent Fund Distribution Rules

This act changes the computation method for determining the amount available for appropriation from the Alaska permanent fund and sets a fixed percentage rate of 4.5% after June 30, 2033.

What This Bill Does

Changes how the corporation calculates the amount available for appropriation each year from the Alaska Permanent Fund.
Sets different percentages for calculating the amount available for appropriation until June 30, 2033.
After June 30, 2033, a fixed percentage of 4.5% will apply every year when determining how much money can be given out from the fund.
Includes earnings in the calculation but excludes certain parts of the principal that come from legal settlements.

Who It Names or Affects

The Alaska Permanent Fund Corporation
People who receive distributions from the Alaska Permanent Fund

Terms To Know

Alaska Permanent Fund: A fund managed by the state of Alaska that holds money and investments to provide annual payments to eligible Alaskans.
Earnings Reserve Account: An account within the Alaska Permanent Fund where earnings are kept before they can be distributed or used for other purposes.

Limits and Unknowns

The bill does not specify what happens if there is a change in market value of the fund.
It's unclear how this will affect future distributions to Alaskans beyond June 30, 2033.
The exact impact on the state budget and individual recipients is uncertain.

Bill History

2026-04-01 Text
(S) Moved SB 274 Out of Committee
2026-04-01 Text
(S) FINANCE at 09:00 AM SENATE FINANCE 532
2026-04-01 2124
(S) REFERRED TO RULES
2026-04-01 2124
(S) FN1: (REV)
2026-04-01 2124
(S) DP: OLSON, STEDMAN, HOFFMAN, KAUFMAN, CRONK, MERRICK, KIEHL
2026-04-01 2124
(S) FIN RPT 7DP
2026-03-25 Text
(S) Heard & Held
2026-03-25 Text
(S) FINANCE at 09:00 AM SENATE FINANCE 532
2026-03-18 Text
(S) Heard & Held -- Rescheduled from 3/17/26 --
2026-03-18 Text
(S) FINANCE at 01:30 PM SENATE FINANCE 532
2026-03-17 Text
(S) -- MEETING CANCELED --
2026-03-17 Text
(S) FINANCE at 01:30 PM SENATE FINANCE 532
2026-03-12 Text
(S) Heard & Held -- Please Note Time Change --
2026-03-12 Text
(S) FINANCE at 01:30 PM SENATE FINANCE 532
2026-03-05 1846
(S) FIN
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