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AK HJR9
Joint Resolution
Status
3/6/2023
Primary Sponsor
Cliff Groh
Click for details
AI Summary
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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.
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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.
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Authorizes the permanent fund to pay costs associated with investments made under the permanent fund investment provisions.
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Transfers the unencumbered balance of the earnings reserve account to the Alaska permanent fund principal on June 30, 2025, consolidating fund accounts.
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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