AK HB73

Reduces the amount available for appropriation from Alaska Permanent Fund from 5.25 percent to 5 percent of average market value for the preceding five fiscal years.

Changes the distribution mechanism from automatic transfers by the corporation to discretionary annual appropriations by the legislature, with 50 percent directed to the dividend fund and 50 percent to the general fund.

Transfers authority for dividend calculations from the corporation to the commissioner of revenue, requiring determination by October 1 of each year.

Requires a special statewide election 90-120 days after the legislative session adjournment, with voters voting on whether to continue the 5 percent appropriation split (50 percent dividends, 50 percent government services).

Repeals previous statutory provisions (sections 2 and 8 of Chapter 16, SLA 2018) and becomes effective July 1, 2021, with the advisory vote provision taking effect immediately.