AK SB103

Establishes the Alaska education innovation grant program to fund school district projects including classroom instruction changes, technology-based learning, pilot projects, and best practice initiatives.

Redesignates the Alaska Higher Education Investment Fund as the Alaska education innovation grant fund and allocates 5% annually: one-third to education grants, one-third to performance scholarships, and one-third to the new innovation grant program.

Increases minimum GPA requirement for Alaska Performance Scholarships from 2.5 to 3.5 for high school graduating class of 2018 and later; reduces maximum annual award to single $4,755 level for applicants with 3.5+ GPA and high test scores.

Reduces Alaska Performance Scholarship eligibility period from 6 years to 4 years after high school graduation unless extended by department regulation.

Repeals the Alaska education grant program (AS 14.43.400-14.43.420) effective May 30, 2021, with provisions protecting existing scholarship recipients from the 2017 class and earlier.