AK SB26

Sets the amount available for appropriation from the Alaska Permanent Fund at 5.25 percent of the average market value of the fund for the first five of the preceding six fiscal years, calculated annually using generally accepted accounting principles.

Excludes the portion of the fund principal attributed to the settlement of State v. Amerada Hess, et al., from the appropriation calculation and inflation adjustments.

Restricts income earned on money awarded in the Amerada Hess case from being used for dividend distributions, principal transfers, or appropriations, directing it instead to the Alaska capital income fund.

Establishes limits on legislative appropriations from the earnings reserve account, prohibiting total appropriations that exceed the amount available under the new calculation method and capping combined transfers and appropriations.

Excludes net income from the mental health trust fund from calculations of net income and market value available for distribution or appropriation from the permanent fund.