AK HB4008

Removes the previous 21 percent net income distribution formula for the Alaska Permanent Fund and replaces it with a 5 percent average market value calculation for appropriations.

Changes the earnings reserve account distribution from automatic transfers to legislative appropriations, splitting 50 percent to the general fund and 50 percent to the dividend fund.

Allows the legislature to reduce dividend fund appropriations and increase general fund appropriations during declared statewide disasters or if general fund appropriations fall below inflation-adjusted historical averages.

Shifts control of permanent fund distributions from the Alaska Permanent Fund Corporation to the legislature, requiring annual appropriation decisions rather than automatic transfers.

Takes effect July 1, 2022.