Alaska legislation · 34th Legislature
Alaska SB109: PERMANENT FUND DIVIDEND; POMV SPLIT
Status: In committee, February 24, 2025
An Act relating to the Alaska permanent fund; relating to income of the Alaska permanent fund; relating to the amount available for appropriation and appropriations from the earnings reserve account; relating to the permanent fund dividend; and providing for an effective date.
What the bill says
An act ENTITLED "An Act relating to the Alaska permanent fund; relating to income of the Alaska permanent fund; relating to the amount available for appropriation and appropriations from the earnings reserve account; relating to the permanent fund dividend; and providing for an effective date.".
From the introduced text:
AN ACT ENTITLED "An Act relating to the Alaska permanent fund; relating to income of the Alaska permanent fund; relating to the amount available for appropriation and appropriations from the earnings reserve account; relating to the permanent fund dividend; and providing for an effective date." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: * Section 1. AS 37.13.140 is amended to read: Sec. 37.13.140. Income. (a) [NET INCOME OF THE FUND INCLUDES INCOME OF THE EARNINGS RESERVE ACCOUNT ESTABLISHED UNDER AS 37.13.145.] Net income of the fund shall be computed annually as of the last day of the fiscal year in accordance with generally accepted accounting principles, excluding any unrealized gains or losses. [INCOME AVAILABLE FOR DISTRIBUTION EQUALS 21 PERCENT OF THE NET INCOME OF THE FUND FOR THE LAST FIVE FISCAL YEARS, INCLUDING THE FISCAL YEAR JUST ENDED, BUT MAY NOT EXCEED NET INCOME OF THE FUND FOR THE SB0109A -1- SB New Text Underlined [DELETED TEXT BRACKETED] 34-LS0598\N FISCAL YEAR JUST ENDED PLUS THE BALANCE IN THE EARNINGS RESERVE ACCOUNT DESCRIBED IN AS 37.13.145.] (b) The corporation shall determine the amount available for appropriation each year. The amount available for appropriation is five percent of the average market value of the fund for the first five of the preceding six fiscal years, including the fiscal …
Sponsors
- Lyman Hoffman (D, S) · primary sponsor
- Bert Stedman (R, SD-Q)
- Donald Olson (D, SD-T)
- Mike Cronk (R, SD-R)
- Jesse Kiehl (D, SD-Q)
- Kelly Merrick (R, HD-014)
- James Kaufman (R, HD-028)
Latest actions
- : (S) Minutes (SFIN)
- : (S) Heard & Held
- : (S) FINANCE at 09:00 AM SENATE FINANCE 532
- : (S) REFERRED TO FINANCE
- : (S) FIN
- : (S) READ THE FIRST TIME - REFERRALS
Subjects: REVENUE, PERMANENT FUND, FUNDS, LEGISLATURE, APPROPRIATIONS
Common questions
- What is SB109?
- SB109 is a bill in the Alaska Legislature (34th Legislature): PERMANENT FUND DIVIDEND; POMV SPLIT.
- What does SB109 do?
- In its own words: An act ENTITLED "An Act relating to the Alaska permanent fund; relating to income of the Alaska permanent fund; relating to the amount available for appropriation and appropriations from the earnings reserve account; relating to the permanent fund dividend; and providing for an effective date.".
- What is the status of SB109?
- In committee as of February 24, 2025. Latest action: (S) Minutes (SFIN) (March 6, 2025).
- Who sponsored SB109?
- Lyman Hoffman (D, S), with 6 co-sponsors.
- Where is the official record for SB109?
- On the Alaska Legislature website: https://www.akleg.gov/basis/Bill/Detail/34?Root=SB 109
Source: official Alaska record. Tracked by Delilah, AI for legislation across all 50 states and Congress.