AK HB192

Establishes an unrestricted general fund appropriation limit of $4,100,000,000 plus cumulative inflation since July 1, 2016, with exemptions for permanent fund appropriations, dividend payments, debt obligations, and capital projects.

Changes permanent fund earnings distribution from 21 percent of five-year average net income to 5.25 percent of average market value of the fund over preceding six fiscal years.

Allocates 50 percent of available earnings for permanent fund dividends and allows legislature to appropriate remainder to general fund or fund principal based on oil and gas revenues exceeding $1.2 billion threshold.

Requires Alaska Permanent Fund Corporation to adopt procurement regulations similar to state procedures and comply with five percent preference and attorney general approval for legal services.

Excludes mental health trust fund income from permanent fund earnings distribution calculations and removes automatic budget reserve fund provisions.