AK HB268

Amends AS 44.88.088(b) to define "mark-to-market fair value" as fixing the value of an investment as its market value as of the financial reporting date

Redefines "net income" to specify it means the change in net position from the revolving fund, sustainable energy transmission and supply development fund, or Arctic infrastructure development fund as shown in audited financial statements

Excludes from net income calculations: intergovernmental transfers, capital contributions, grants, losses on projects or developments financed with state or federal grants or appropriations, mark-to-market accounting entries, and noncash retirement obligation entries

Adds a new definition of "project or development" to include Arctic infrastructure development, development projects, projects, and qualified energy developments as defined in AS 44.88.900

Applies the same exclusions and definitions to "unrestricted net income" calculations for dividend purposes

Takes effect immediately upon enactment