STATE OF ALASKA
THE LEGISLATURE
2019
FIRST SPECIAL SESSION Legislative
Source Resolve No.
HCR 101 13
Relating to the earnings of the Alaska permanent fund and establishing a bicameral legislative
working group on the use of earnings of the Alaska permanent fund.
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA:
WHEREAS the Alaska permanent fund is an endowment fund unique in the United
States and critically important to the citizens of the state; and
WHEREAS, for more than 30 years, the earnings of the Alaska permanent fund have
primarily been used for the disbursement of dividends to the citizens of the state and for
inflation proofing the principal of the fund; and
WHEREAS, because of the declining oil revenue of the state, and in pursuit of the
diversification of the state's revenue sources, a portion of the earnings of the Alaska
permanent fund is currently being used to fund essential public services; and
WHEREAS the Alaska State Legislature supports the objective of the managers of
the Alaska Permanent Fund Corporation to meet their fiduciary responsibility to grow the
Alaska permanent fund and supports a sustainable permanent fund dividend in perpetuity; and
WHEREAS there are unresolved issues related to the use of the earnings of the
Alaska permanent fund, including the division of an annual draw on the earnings of the
-1- Enrolled HCR101
Alaska permanent fund, the formula for the calculation of the permanent fund dividend, the
transfer of funds from the earnings reserve account in the Alaska permanent fund to the
constitutionally protected principal of the Alaska permanent fund, and whether the earnings of
the Alaska permanent fund should be contained in a separate fund; and
WHEREAS the Alaska State Legislature recognizes that, in finding a long-term fiscal
solution for the state, the resolution of issues surrounding the future use of the earnings of the
Alaska permanent fund is paramount;
BE IT RESOLVED that a bicameral legislative working group is established to
review the use of the earnings of the Alaska permanent fund; and be it
FURTHER RESOLVED that the working group consists of four members from the
House of Representatives and four members from the Senate appointed by the presiding
officer of each house and includes minority caucus representation from each body; and be it
FURTHER RESOLVED that the working group shall meet as necessary and provide
policy recommendations to the Thirty-First Alaska State Legislature on the future use of the
earnings of the Alaska permanent fund.
Enrolled HCR101 -2-