Loading chat...

AK HJR9

Joint Resolution

Status

Introduced

3/6/2023

Primary Sponsor

Cliff Groh

Click for details

Origin

House of Representatives

33rd Legislature

AI Summary

  • Amends Alaska Constitution Article IX, Section 15 to allow the legislature to appropriate up to five percent of the average fiscal year-end market value of the permanent fund (calculated from the preceding six fiscal years) to the general fund each fiscal year.

  • Changes permanent fund income from being deposited in the general fund unless otherwise provided by law to being retained in the permanent fund, except as provided in new subsections.

  • Authorizes the permanent fund to pay costs associated with investments made under the permanent fund investment provisions.

  • Transfers the unencumbered balance of the earnings reserve account to the Alaska permanent fund principal on June 30, 2025, consolidating fund accounts.

  • Places the proposed constitutional amendments before Alaska voters at the next general election, with the amendments applying to appropriations for fiscal year ending June 30, 2026, and thereafter.

Legislative Description

Const Am: Permanent Fund; Pomv;earnings

Investments

Last Action

COSPONSOR(S): STORY

3/15/2023

Committee Referrals

Ways & Means3/6/2023

Full Bill Text

No bill text available