Bill > HB315

This bill modifies the qualifications and confirmation process for appointees to the Board of Trustees of the Alaska Permanent Fund Corporation, which manages the state's permanent fund. Specifically, it requires that public members of the board, who are appointed by the governor and must have expertise in finance or business, be confirmed by a majority vote of the legislature in a joint session. The bill also extends the term of office for these public members from four to six years and mandates that any reappointment also requires legislative confirmation. Furthermore, it stipulates that any vacancy on the board must be filled by the governor within 30 days, with the appointee needing legislative confirmation, and allows for interim appointments if the legislature is not in session, which then require confirmation in the next session. These changes are intended to enhance the oversight and accountability of the board members responsible for managing the state's significant permanent fund investments.

Government Affairs

https://www.akleg.gov/basis/Bill/Detail/34?Root=HB315