HB 327: "An Act relating to the confirmation of appointees to the Board of Trustees of the Alaska Permanent Fund Corporation; and providing for an effective date."
00 HOUSE BILL NO. 327 01 "An Act relating to the confirmation of appointees to the Board of Trustees of the 02 Alaska Permanent Fund Corporation; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 37.13.050(a) is amended to read: 05 (a) The Board of Trustees of the Alaska Permanent Fund Corporation consists 06 of six members appointed by the governor. Two of the members must be heads of 07 principal departments of state government, one of whom shall be the commissioner of 08 revenue. Four members shall be appointed by the governor from the public and may 09 not hold any other state or federal office, position or employment, either elective or 10 appointive, except as a member of the armed forces of either the United States or of 11 this state. Other than the commissioner of revenue, members of the board shall be 12 separately confirmed by a majority of the members of the legislature in joint 13 session. 14 * Sec. 2. AS 37.13.060 is amended to read:
01 Sec. 37.13.060. Term of office. The public members of the board shall be 02 appointed for terms of four years, and they may be reappointed subject to 03 confirmation by a majority of the members of the legislature in joint session. The 04 terms of the public members shall be staggered so that not [NO] more than one term 05 of a public member expires each year. 06 * Sec. 3. AS 37.13.070(b) is amended to read: 07 (b) A vacancy on the board shall be promptly filled by appointment by the 08 governor and confirmation by a majority of the members of the legislature in 09 joint session. An appointee to a vacancy shall hold office for the balance of the term 10 for which the appointee's predecessor on the board was appointed. If a vacancy 11 occurs while the legislature is not in session, the governor may appoint an interim 12 board member who shall exercise the powers of the board member until the next 13 session of the legislature, at which time the name of the interim board member 14 shall be presented to the legislature for appointment. 15 * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to 16 read: 17 APPLICABILITY. (a) AS 37.13.050(a), as amended by sec. 1 of this Act, does not 18 apply to members of the board who are serving on the effective date of this Act. 19 (b) On or after the effective date of this Act, members of the board who are 20 reappointed under AS 37.13.060, as amended by sec. 2 of this Act, shall be confirmed by a 21 majority of the members of the legislature in joint session. 22 (c) In this section, "board" has the meaning given in AS 37.13.900. 23 * Sec. 5. This Act takes effect January 1, 2019.