AK SB274

Reduces the Percent of Market Value (POMV) draw rate from the Alaska Permanent Fund on a graduated schedule: 4.9% in FY2029, 4.8% in FY2030, 4.7% in FY2031, 4.6% in FY2032, and 4.5% for FY2033 and thereafter

Calculates the amount available for appropriation using the average market value of the fund for the first five of the preceding six fiscal years

Defines "average market value of the fund" to include the earnings reserve account balance but exclude principal from the State v. Amerada Hess settlement (1JU-77-847 Civ.)

Takes effect July 1, 2028, with the permanent 4.5% rate provision taking effect July 1, 2032