Bill > SJR5

This resolution proposes several key amendments to the Alaska State Constitution regarding the Alaska Permanent Fund, a state-owned investment fund established from oil and mineral revenues. The amendments would require that at least 25% of all mineral lease revenues be placed in the Permanent Fund for income-producing investments, and establish a new framework for annual appropriations from the fund. Specifically, the legislature would be required to appropriate up to 5.5% of the fund's average market value each fiscal year to the general fund, with a portion of those funds mandated to be used for dividend payments to eligible Alaska residents. Notably, any future changes to the dividend payment amount would require voter approval in a statewide election, and the governor would be prohibited from vetoing or reducing the dividend appropriation. The resolution also includes transition provisions, setting June 30, 2027, as a key date for consolidating the earnings reserve account into the Permanent Fund, and specifying that the new amendment's appropriation rules would apply to fiscal years starting June 30, 2028. The proposed constitutional amendments would be placed before Alaska voters at the next general election for final approval.

Justice

https://www.akleg.gov/basis/Bill/Detail/34?Root=SJR5