An Act relating to investments of the permanent fund; relating to investments made by the Alaska Permanent Fund Corporation; relating to regulations adopted by the Alaska Permanent Fund Corporation; and providing for an effective date.

HB 373 requires the Alaska Permanent Fund Corporation to invest at least 25% of fund assets in a U.S. stock market index tracking 500 companies. It also directs the Corporation to prioritize in-state investments when they offer comparable risk and return to other options. The bill repeals outdated investment rules (sections 37.13.120(a) and 37.13.120(e)) and removes administrative procedure requirements for the Corporation’s regulations. The changes take effect July 1, 2027, directly affecting how the Permanent Fund manages its $60+ billion portfolio.