AK HB222

Requires the Alaska Permanent Fund Corporation Board to invest fund assets to achieve a 25 percent ownership share of a natural gas pipeline originating on the North Slope.

Changes permanent fund dividend distribution from an automatic transfer of 50 percent of available income to a discretionary legislative appropriation of up to $1,000 per eligible individual.

After pipeline completion with at least 25 percent Alaska Permanent Fund ownership, reverts dividend distribution to 50 percent of available income rather than the $1,000 cap.

Excludes mental health trust fund net income from calculations of amounts available for appropriation under permanent fund statutes.

Makes most provisions conditional on construction beginning before January 1, 2034 on a North Slope natural gas pipeline, with full provisions taking effect upon pipeline completion, and general effective date of July 1, 2024.