Proposing amendments to the Constitution of the State of Alaska relating to the Alaska permanent fund; relating to appropriations from the Alaska permanent fund; relating to transfers out of the Alaska permanent fund; and requiring payment of a dividend to eligible state residents.
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Progress
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- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This joint resolution proposes amendments to the Alaska Constitution to strengthen the Alaska Permanent Fund. It aims to ensure that at least 25% of state revenue from minerals is dedicated to the fund, and that dividends are paid to eligible residents. The amendments also modify how funds can be withdrawn from the Permanent Fund, limiting withdrawals to a maximum of 5% of the fund’s average value over the previous five years, with 50% of that amount being distributed as dividends. Finally, it addresses the transfer of an earnings reserve account balance to the Permanent Fund.
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Sponsors
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1 on record
Primary sponsor
House Rules by Request of the Governor
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