AK SB200

Eliminates the previous 21 percent of five-year average net income formula and replaces it with a 5 percent of average market value calculation for determining appropriations from the Alaska Permanent Fund.

Changes distribution splits from automatic transfers to legislative appropriations: 25 percent to the dividend fund and 75 percent to the general fund from the earnings reserve account.

Changes treatment of income from State v. Amerada Hess settlement to exclude it from appropriation calculations but allow it to be deposited into the Alaska capital income fund.

Removes subsections (e) and (f) from AS 37.13.145 and modifies dividend calculation procedures to reference appropriations rather than income transfers.

Takes effect July 1, 2022.