AK HJR3

Establishes the earnings reserve account as a separate account within the Alaska Permanent Fund where all fund income is deposited immediately upon receipt.

Limits annual income distributions to the lesser of four percent of the permanent fund's market value or the net income earned that fiscal year.

Directs fifty percent of available income to dividend payments to Alaska residents and fifty percent to the general fund, both transferred automatically without legislative appropriation.

Removes the previous requirement that all permanent fund income be deposited in the general fund unless otherwise provided by law.

Requires voter approval at the next general election for these constitutional amendments to take effect.