AK SB46

Eliminates the public education fund and base student allocation formula, replacing it with a system where state aid is distributed based on each district's proportional share of total adjusted average daily membership (ADM) statewide

Requires the governor to publish inflation-adjusted education appropriation figures on December 15 and March 15 each year, calculated using the Consumer Price Index for urban Alaska

Maintains the required local contribution for city and borough school districts at 2.65 mills on taxable property, capped at 45% of the district's basic need

Repeals AS 14.17.300, 14.17.400, 14.17.410(a), 14.17.470, 14.17.480(b), and 14.17.490(c), eliminating statutory provisions related to the public education fund and base student allocation

Takes effect July 1, 2025, applying to contracts that become legally binding on or after that date