AK HB4007

Removes requirement for an appropriation under AS 37.13.145(e) from the earnings reserve account, leaving only automatic inflation protection transfers to the permanent fund principal.

Income earned on money from the State v. Amerada Hess settlement is excluded from distribution to the dividend fund and transfers to principal, and shall be deposited into the Alaska capital income fund instead.

Unexpended balances of the Alaska Permanent Fund Corporation's annual operating budget are treated as income rather than lapsing at fiscal year-end.

Net income from the mental health trust fund is excluded from computations of net income available for distribution or appropriation under permanent fund earnings provisions.

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