AK HB316

Adjusts the damages cap for personal injury or wrongful death claims for inflation, using 100 percent of the change since 1997 in the Consumer Price Index for all urban consumers for urban Alaska

Standard damages cap remains at $400,000 or life expectancy multiplied by $8,000 (whichever is greater), but now subject to inflation adjustment

Higher damages cap for severe permanent physical impairment or severe disfigurement remains at $1,000,000 or life expectancy multiplied by $25,000 (whichever is greater), also subject to inflation adjustment

Applies to damages awarded on or after the effective date of the Act