AK SJR1

Amends Alaska Constitution Article IX, Section 15 to retain all permanent fund income in the fund rather than depositing it to the general fund unless otherwise provided by law.

Establishes an annual calculation at fiscal year-end using two methods: five percent of the average market value of the fund for the preceding five fiscal years, or twenty-one percent of net income for the preceding five fiscal years.

Requires fifty percent of whichever calculation method yields the greater amount to be transferred annually for a resident dividend payment program.

Allows the remainder of amounts calculated under the first method to be appropriated to the general fund for state government costs and expenses.

Requires the unencumbered balance of the earnings reserve account to be deposited into the permanent fund principal on June 30, 2021, with the amended provisions applying to appropriations for fiscal year ending June 30, 2022 and thereafter.

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