AK HJR8

Proposes constitutional amendments to Article IX, Section 15 regarding the Alaska Permanent Fund and establishes new subsections (b), (c), and (d) for determining and distributing fund earnings.

Requires determination at fiscal year-end of either 5% of the average market value of the fund over the preceding five years, or 21% of net income over the preceding five years, whichever calculation method is used.

Mandates that 50% of the annually determined amount be transferred from the permanent fund for dividend payments to state residents, with the remainder available for appropriation to the general fund for state government expenses.

Establishes a transition provision requiring the unencumbered balance of the earnings reserve account to be deposited into the permanent fund principal on June 30, 2025, with new amendments applying to appropriations for fiscal year ending June 30, 2026, and thereafter.

Submits the proposed amendments to Alaska voters at the next general election in accordance with state election laws.