AK HB251

Increases the Board of Trustees of the Alaska Permanent Fund Corporation from four to six public members, plus the commissioner of revenue, for a total of seven members.

Extends public board member terms from four years to six years, with staggered expiration so no more than one term expires annually.

Creates a nine-member Alaska Permanent Fund Corporation appointment committee to appoint the six public board members, with representatives from the governor (2), house speaker (2), senate president (2), house minority leader (1), senate minority leader (1), and commissioner of revenue (1).

Transfers appointment and removal authority for public board members from the governor to the appointment committee.

Requires one board member to have wide experience in socially responsible investing; all board members must have competence in finance, investments, or business management.

Takes effect January 1, 2023, with existing board members' terms expiring on the effective date and new members appointed to staggered initial terms of one through six years.