AK HB132

Reduces mineral revenue deposits to the Alaska Permanent Fund principal from 50% to 25% for all mineral leases, eliminating the higher rate that previously applied to leases issued after December 1979/February 1980

Sets the annual appropriation limit from the Permanent Fund earnings reserve account at 5.25% (later reducing to 5%) of the fund's average market value over the first five of the preceding six fiscal years

Changes inflation-proofing transfers to the fund principal from automatic corporation transfers to discretionary legislative appropriations

Creates a new dividend fund appropriation formula based on the lesser of: 40% of prior year mineral revenues and oil/gas production taxes, or the amount needed for a $1,800 dividend per eligible individual

Effective date of July 1, 2020, with certain provisions tied to earlier 2018 legislation