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
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This joint resolution proposes amendments to Alaska’s Constitution to strengthen the Alaska Permanent Fund. It aims to ensure that a minimum of 25% of state revenue from minerals is dedicated to the fund, and that the fund’s principal is used for investments. The amendments also establish limits on how much can be withdrawn from the fund each year, with 50% of that amount being distributed as dividends to residents. Finally, it outlines a transition plan to deposit the earnings reserve account into the permanent fund by 2027.
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Sponsors
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1 on record
Primary sponsor
Senate Rules by Request of the Governor
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