AK HB315

Public members of the Alaska Permanent Fund Corporation Board of Trustees would require confirmation by a majority of the legislature in joint session, both for initial appointments and reappointments

Term length for public board members increases from four years to six years, with staggered terms so no more than one term expires each year

Governor must fill board vacancies within 30 days; if the legislature is not in session, the governor may appoint an interim member who serves until the next legislative session when confirmation must occur

Public board members must be Alaska residents with recognized competence and wide experience in finance, investments, or other business management-related fields

Changes do not apply to current board members serving on the effective date; the act takes effect December 1, 2026