HB 171 Summary

• Establishes the Alaska opioid settlement investment fund outside the general fund to receive appropriations from opioid manufacturer and distributor settlements, with money that does not lapse.

• Fund consists of legislative appropriations, investment income on fund assets, and donations, with the Commissioner of Revenue determining 5 percent of the average market value available for annual appropriation after July 1 each year.

• Establishes the Alaska opioid remediation fund in the general fund to receive appropriations and allows the Commissioner of Health to spend funds without further appropriation for opioid prevention, harm reduction, treatment, recovery, remediation, education services, administrative costs, and grants in compliance with settlement terms.

• For the first five years, the amount available for appropriation is calculated using a transition formula starting with 5 percent of initial appropriations in year one and progressing to 5 percent of four-year average market value by year five.

• Takes effect June 30, 2023.