AK SB260

Increases Alaska Permanent Fund Corporation Board of Trustees from six to eight members, with seven public members appointed by the governor from nominees provided by a new Governor's Alaska Permanent Fund Council.

Establishes the Governor's Alaska Permanent Fund Council with five voting members (including commerce commissioner, University of Alaska dean, banker/chamber representative, investment officer, and rural resident) and two nonvoting legislative ex officio members to nominate board candidates.

Extends public board member terms from four to six years with staggered expiration so no more than one term expires annually, except once every six years when two terms expire simultaneously.

Changes board member compensation from $400 per meeting day to annual salary equal to 50 percent of the governor's annual salary, and council members receive $500 per meeting day honorarium.

Increases board quorum requirement from four to five members and adds ethics requirements for council members under the Alaska Executive Branch Ethics Act; effective date January 1, 2027.