AK HB3002

Removes the requirement for legislative appropriation to transfer earnings from the Alaska Permanent Fund's earnings reserve account to the fund's principal for inflation protection.

Excludes income earned from the State v. Amerada Hess settlement from being available for transfer to the fund's principal or appropriation, directing such income to the Alaska capital income fund instead.

Removes language treating unexpended balances of the Alaska Permanent Fund Corporation's operating budget as part of the fund's market value, retaining only treatment as income.

Excludes net income from the mental health trust fund from calculations of net income available for distribution or appropriation under permanent fund provisions.

Repeals AS 37.13.140(b), 37.13.145(e), and 37.13.145(f) effective July 1, 2022.