AK HJR10

Establishes the earnings reserve account as a separate account within the Alaska Permanent Fund, with income deposited as received and subject to the same investment rules as the principal.

Replaces the current provision that all permanent fund income goes to the general fund unless otherwise provided by law.

Distributes annual income available for distribution (calculated as 4 percent of fund market value or actual net income, whichever is lower) with 50 percent for resident dividend payments and 50 percent to the general fund, both without requiring legislative appropriation.

Requires net income computation annually as of the last day of the fiscal year using generally accepted accounting principles.

Transitions funds from the existing earnings reserve account established by law into the new constitutional earnings reserve account upon the amendments' effective date.

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