AK HB79

Establishes a gas royalty and production tax fund in the general fund consisting of proceeds from state gas royalties and production taxes on in-state gas pipeline deliveries, excluding amounts directed to the Alaska permanent fund.

Requires the department to separately account for royalty receipts versus production tax receipts within the fund.

Authorizes the legislature to appropriate money from the gas royalty and production tax fund to the power cost equalization endowment fund, the power cost equalization and rural electric capitalization fund, or for any other public purpose.

Amends existing power cost equalization endowment and capitalization funds to include legislative appropriations from the new gas royalty and production tax fund as a funding source.