AK SB114

Expands Alaska Permanent Fund deposits to include 50 percent of mineral lease rentals, royalties, and bonuses from leases issued after December 1, 1979 and February 15, 1980 (previously limited to earlier dates only).

Changes fund distribution calculation from 21 percent of average market value to 4.5 percent, with a $1 billion threshold reduction on production taxes and mineral revenues deposited to general fund.

Creates new appropriation authority allowing legislature to allocate 15 percent of 21 percent of five-year net income from earnings reserve account plus 2 percent of constitutional budget reserve fund market value to dividend fund, and 15 percent of mineral revenues from general fund to dividend fund.

Establishes automatic 50 percent transfer from earnings reserve account to dividend fund at end of each fiscal year based on income available for distribution under the new 4.5 percent formula.

Adds commissioner of revenue duty to submit annual report by January 30 evaluating earnings reserve account sufficiency and provides authority to recommend adjustments to dividend percentages; includes $1,000 minimum dividend provision if calculated dividend falls below that amount.