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.

HB 209 updates Alaska's permanent fund rules to set a $1,000 annual dividend for eligible residents, calculated from fund income. It establishes a process to adjust the fund's principal for inflation annually using the Consumer Price Index, while directing Amerada Hess settlement funds into a separate capital income account instead of the dividend or principal. The bill also clarifies how fund income is calculated (excluding unrealized gains) and limits total appropriations for dividends and principal adjustments to fund earnings.