AK SB153

Replaces the prior 21 percent calculation for available income from the Alaska Permanent Fund with a new 5 percent of average market value formula, subject to the earnings reserve account balance.

Establishes fixed permanent fund dividend amounts of $1,100 (fiscal 2022), $1,500 (fiscal 2023), $2,000 (fiscal 2024), and $2,250 (fiscal 2025), with future dividends determined by available appropriations.

Changes dividend distribution from automatic corporate transfer to legislative appropriation, requiring annual legislative action to fund dividend payments.

Splits available appropriations 50/50 between the dividend fund and the general fund, with inflation protection for the fund principal remaining mandatory.

Transfers control of dividend amounts from a formula-based system to legislative discretion, with ability to reduce dividends if appropriation amounts are insufficient.