HB 332 Summary: Alaska Chinook Research and Restoration Endowment Fund

• Establishes the Alaska Chinook salmon research and restoration endowment fund managed by the Commissioner of Revenue with a goal to maintain purchasing power and achieve at least 5% real rate of return on investments.

• Creates a grant account funded annually by the greater of: 5% of average fund market value over three years, half of average earnings over three years, or total earnings if fund exceeds $50 million in principal.

• Establishes the Alaska Chinook Salmon Research and Restoration Endowment Fund Board in the Department of Commerce, consisting of the Fish and Game Commissioner and six public members, one from each geographic region of Alaska.

• Grant funds may support research and restoration projects for Chinook salmon stocks, block grants to Alaska organizations, administrative costs, matching funds for private and federal grants, and contribution solicitation.

• Board must prioritize grants targeting Chinook stocks that within the past 10 years were listed as stocks of concern, subject to fisheries disaster declarations, closed or restricted for fishing, or declined significantly from historic levels.