AK SJR1

Establishes the earnings reserve account as a separate constitutional account within the Alaska Permanent Fund to receive all income from the fund as soon as it is received.

Calculates income available for distribution annually as twenty-one percent of the net income of the fund for the last five fiscal years, excluding unrealized gains or losses.

Requires fifty percent of the calculated income available for distribution to be transferred annually from the earnings reserve account to fund dividend payments to Alaska residents, with remaining balance available for general fund deposits.

Directs the legislature to provide by law for inflation-offset transfers from the earnings reserve account to the principal fund each fiscal year.

Places the proposed constitutional amendments before voters at the next general election per state election law.