AK HB381

Triggers alternate tax and dividend calculations when the state receives at least $2,900,000,000 in unrestricted revenue from combined oil and gas production taxes and oil and mineral royalties in any calendar year.

Reduces broad-based statewide sales tax rates by 75 percent in the following calendar year if a sales tax is imposed under state law.

Reduces broad-based individual income or wage tax rates by 75 percent in the following calendar year if such a tax is imposed under state law.

Requires the permanent fund dividend to be calculated according to AS 37.13.140, 37.13.145, and AS 43.23.025 as those provisions read on January 1, 2018.

Adjusts the $2,900,000,000 revenue threshold annually based on combined changes in state population and inflation, using Department of Labor estimates and the Anchorage Consumer Price Index.