AK SB57

Amends AS 44.88.088(b) to define "mark-to-market fair value" as fixing the value of an investment as its market value as of the financial reporting date.

Redefines "net income" to mean the change in net position from the revolving fund, sustainable energy transmission and supply development fund, or Arctic infrastructure development fund, excluding intergovernmental transfers, capital contributions, grants, losses on state or federally financed projects, mark-to-market accounting entries, and noncash retirement obligation entries.

Defines "project or development" to include Arctic infrastructure developments, development projects, projects, and qualified energy developments as defined in AS 44.88.900.

Redefines "unrestricted net income" using the same exclusions as net income to determine unrestricted changes in net position for the three specified funds.

Takes effect immediately upon enactment.