AK HJR37

Establishes an earnings reserve account as a separate account within the Alaska Permanent Fund to receive all fund income as it is received.

Calculates income available for distribution annually as 21 percent of the fund's net income for the last five fiscal years, capped at the fiscal year just ended plus the earnings reserve account balance.

Transfers 50 percent of calculated income available for distribution (or the account balance, whichever is less) annually for permanent fund dividend payments to Alaska residents.

Allows remaining earnings reserve account funds to be appropriated for any public purpose after dividend transfers.

Suspends and repeals these amendments if the Internal Revenue Service determines the permanent fund is subject to federal taxation, reverting to the pre-amendment structure.