AK SJR1

Establishes the earnings reserve account as a separate constitutional account within the Alaska Permanent Fund to hold fund income instead of depositing all income to the general fund.

Requires annual computation of net income using generally accepted accounting principles, with income available for distribution calculated as 21 percent of the net income from the last five fiscal years.

Mandates that 50 percent of calculated income available for distribution (or the account balance, whichever is less) be transferred annually for dividend payments to state residents.

Requires the permanent fund dividend to be calculated using the same method as calendar year 2013, with legislature retaining authority to provide larger dividends.

Submits the proposed constitutional amendments to voters at the next general election.