AK HB208

Removes the requirement for legislative appropriation of earnings from the Alaska Permanent Fund's earnings reserve account, allowing automatic transfers for inflation protection of the fund's principal.

Excludes income earned on money from the State v. Amerada Hess settlement from being available for dividend distributions or principal transfers, directing it instead to the Alaska capital income fund.

Clarifies that unexpended balances of the Alaska Permanent Fund Corporation's annual operating budget are treated as income rather than part of the fund's market value.

Excludes net income from the mental health trust fund from computations of net income available for distribution under permanent fund provisions.

Repeals provisions in AS 37.13.140(b), 37.13.145(e), and 37.13.145(f) related to appropriations and market value calculations; effective July 1, 2023.