AK SJR302

Creates two new accounts within the Alaska Permanent Fund: the sustainable dividend account and the power cost equalization account, requiring fund principal and income to be retained within these designated accounts.

Allows the legislature to annually appropriate up to 4.5 percent of the fund's average market value to the general fund, excluding the sustainable dividend and power cost equalization accounts.

Mandates the legislature annually appropriate 5 percent of the sustainable dividend account's average market value for resident dividends and 5 percent of the power cost equalization account's average market value for energy subsidies and renewable energy projects in rural communities.

Guarantees a minimum $1,200 annual dividend for each state resident, requiring the legislature to appropriate additional funds if the 5 percent appropriation from the sustainable dividend account is insufficient.

Establishes a transition plan effective June 30, 2023, transferring the earnings reserve account balance and power cost equalization endowment fund balance into the permanent fund's respective accounts, with amendments applying to fiscal year 2024 appropriations.