AK SB97

Creates additional education funding mechanism where legislature may appropriate $5,000,000 multiplied by the amount Alaska North Slope crude oil price exceeds a calculated trigger price, distributed to school districts based on average daily membership.

Establishes trigger price calculation methodology using unrestricted general fund appropriations (excluding community revenue sharing, education funding, and budget reserve fund amounts), current oil prices, and production figures, rounded to nearest dollar plus $2.

Modifies community revenue sharing fund cap by removing the $60,000,000 limit and replacing it with a formula: amount received plus two-thirds of prior year fund balance cannot exceed $180,000,000.

Authorizes additional community revenue sharing appropriations equal to $5,000,000 multiplied by the amount Alaska North Slope crude oil exceeds the fiscal year trigger price, using same trigger price calculation methodology.

Takes effect July 1, 2012.