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--- version:SJR 14+++ version:(document, no version)@@ -1,245 +1,30 @@- The Alaska State Legislature-- menu-- Home-- Senate-- Current Members-- Past Members-- By Session-- Alphabetical-- House-- Current Members-- Past Members-- By Session-- Alphabetical-- Bills & Laws-- Bills-- All Introduced-- Actions by Date-- Awaiting Actions-- Bills sent to Conf Committee-- Bills in Committee-- Governor's Vetoes-- Passed Legislation-- Prefile Bill Summary-- Requestor Summary-- Statistics-- Sponsor Summary-- Subject Summary-- Laws-- Constitution-- Constitutional Convention Files-- Statutes-- Executive Orders - Current-- Executive Orders - Historical-- Administrative Code-- Journals-- Session Laws & Resolves-- Session Laws & Resolves 2025-- Session Laws & Resolves 2026-- 1981 - Previous Year Session Law-- 1983 - Previous Year Legislative Resolves-- Tools-- Statute Information Retrieval System-- Bill Tracking Management Facility-- Past Legislatures (Archives)-- Committees-- Hearing Schedule-- Standing Committees-- Finance Committees-- Special Committees-- Joint Committees-- Conference Committees-- Other Committees-- Minutes-- Publications-- Get Started-- Information Offices-- Legislative Affairs-- Legislative Agencies-- Links-- Legislative Branch-- Executive Branch-- Judicial Branch-- Alaska Delegation--Home--Bill & Laws--Bills--SJR 14 Detail--FullText-- txt--SJR 14: Proposing amendments to the Constitution of the State of Alaska relating to the Alaska permanent fund and to appropriations from the Alaska permanent fund.--00 SENATE JOINT RESOLUTION NO. 14-01 Proposing amendments to the Constitution of the State of Alaska relating to the Alaska-02 permanent fund and to appropriations from the Alaska permanent fund.-03 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA:-04 * Section 1. Article IX, sec. 15, Constitution of the State of Alaska, is amended to read:-05 Section 15. Alaska Permanent Fund. (a) At least twenty-five percent of all-06 mineral lease rentals, royalties, royalty sale proceeds, federal mineral revenue sharing-07 payments and bonuses received by the State shall be placed in a permanent fund.-08 Except as provided in (b) of this section, the fund [, THE PRINCIPAL OF-09 WHICH] shall be used only for [THOSE] income-producing investments specifically-10 designated by law as eligible for permanent fund investments. All income from the-11 permanent fund shall be retained [DEPOSITED] in the [GENERAL] fund [UNLESS-12 OTHERWISE PROVIDED BY LAW].-13 * Sec. 2. Article IX, sec. 15, Constitution of the State of Alaska, is amended by adding a-14 new subsection to read:-15 (b) Each fiscal year, the legislature may appropriate from the permanent fund-16 to the general fund an amount that is not more than five percent of the average fiscal---01 year-end market value of the permanent fund for the first five of the preceding six-02 fiscal years, including the fiscal year just ended. Each fiscal year, the legislature may-03 also appropriate from the permanent fund an amount to pay costs associated with-04 investments made under (a) of this section, including operating expenditures-05 associated with managing the fund.-06 * Sec. 3. Article XV, Constitution of the State of Alaska, is amended by adding a new-07 section to read:-08 Section 30. Permanent Fund Amendments: Transition. (a) On June 30,-09 2027, the unencumbered balance of the earnings reserve account established by law-10 shall be deposited in the Alaska permanent fund and become part of the principal of-11 the fund.-12 (b) The 2026 amendments relating to the Alaska permanent fund (art. IX, sec.-13 15) apply to appropriations made for the fiscal year ending June 30, 2028, and-14 thereafter.-15 * Sec. 4. The amendments proposed by this resolution shall be placed before the voters of-16 the state at the next general election in conformity with art. XIII, sec. 1, Constitution of the-17 State of Alaska, and the election laws of the state.--Welcome to-The Alaska State Legislature--This web site is the place to track bills, locate and contact your legislators, and access committee information. Questions? Try our help wizard or call 907-465-4648.--SMS Bill Tracking-- Text a bill number (ex: HB1) to 559-245-2529 to enroll in text alerts. You will receive an enrollment confirmation and instructions on how to stop receiving the alerts.--WHO REPRESENTS ME??--FIND--Quick Links--Infobases--Districts--FAQ--Legislative Information Offices--Legislative Affairs Agency--Public Opinion Messages--Legislative Links--Finance--Audit--Ombudsman--100 Years Centennial--Office of Victims' Rights--Statutory Reporting--Ethics--LB&A--senate--Majority--Minority--house--Majority--Minority-- Disclaimer / Credits- Webmaster- Accessibility- Mobile Apps-- Copyright © 2026 Alaska Legislature, All Rights Reserved.--Disclaimer / Credits--Webmaster--Accessibility+Senate Finance Committee+Sponsor Statement+Senate Joint Resolution 14+Constitutional Amendment: Permanent Fund; POMV; Earnings+Senate Joint Resolution 14 (SJR 14) seeks to provide financial stability by consolidating the+Permanent Fund's two-account structure into one and constitutionally limit the draw to five+percent of market value (POMV) of the Fund for the first five of the preceding six fiscal years.+Consolidating the two accounts follows globally recognized best practices for endowments and+trusts. A single-fund model ensures all earnings are retained and reinvested within the Fund,+eliminating the need for inflation-proofing, and the endowment model structure guarantees an+annual, sustainable POMV transfer. Additionally, constitutionalizing the draw protects the+Permanent Fund by preventing the legislature from making ad hoc draws on the Fund.+Since Fiscal Year 2019, the use of a POMV draw from the Permanent Fund provides revenue+stability and yields the largest source of Unrestricted General Fund dollars to the state budget.+This constitutional amendment offers the necessary framework for continuing predictability and+security of this revenue source.+Sen. Lyman Hoffman+State Capitol, Room 518+(907) 465-4453+Sen.Lyman.Hoffman@akleg.gov+Sen. Bert Stedman+State Capitol, Room 516+(907) 465-3873+Sen.Bert.Stedman@akleg.gov+Sen. Donald Olson+State Capitol, Room 508+(907) 465-3707+Sen.Donny.Olson@akleg.gov Official Business+Alaska State Legislature+Created March 10, 2025
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