2019-01-30                     Senate Journal                      Page 0147
SJR 5                                                                                                                         
SENATE JOINT RESOLUTION NO. 5 BY THE SENATE RULES                                                                               
COMMITTEE BY REQUEST OF THE GOVERNOR,                                                                                           
                                                                                                                                
                                                                                                                                

2019-01-30                     Senate Journal                      Page 0148
               Proposing amendments to the Constitution of the                                                                 
            State of Alaska relating to the Alaska permanent fund                                                              
          and the permanent fund dividend.                                                                                      
                                                                                                                                
was read the first time and referred to the State Affairs, Judiciary and                                                        
Finance Committees.                                                                                                             
                                                                                                                                
The following fiscal information was published today:                                                                           
 Fiscal Note No. 1, zero, Office of the Governor                                                                                
                                                                                                                                
Governor's transmittal letter dated January 29:                                                                                 
                                                                                                                                
Dear President Giessel:                                                                                                         
                                                                                                                                
Under the authority of Article III, Section 18, of the Alaska                                                                   
Constitution, I am transmitting a resolution to amend the Constitution                                                          
of the State of Alaska, Article IX, Section 15.                                                                                 
                                                                                                                                
For decades, the Alaska Permanent Fund and the Alaska Permanent                                                                 
Fund Dividend (PFD) have functioned as intended. Its recent                                                                     
politicization has broken trust with Alaskans, taken important dollars                                                          
from our state economy, and placed a direct financial burden on                                                                 
Alaskans and their families without an affirmative vote of the people.                                                          
                                                                                                                                
The proposed amendment would constitutionally protect the people’s                                                              
right to determine the future of the PFD. The amendment requires                                                                
voter approval for any changes to the existing dividend program in the                                                          
future.                                                                                                                         
                                                                                                                                
The PFD creates a vital connection between the people and the                                                                   
government by providing every Alaskan a share of our great state’s                                                              
natural resources. Distributing a dividend which is based on                                                                    
performance of the fund also creates an important connection between                                                            
its owners and the activities and investments that provide the fund’s                                                           
security and growth.                                                                                                            
                                                                                                                                
I propose this measure as the most effective means of protecting the                                                            
PFD and ensuring its sustainable use for generations to come. The                                                               
principle of the Alaska Permanent Fund is constitutionally protected,                                                           
and I believe that Alaskans' share of the common resource wealth                                                                

2019-01-30                     Senate Journal                      Page 0149
should also be protected. Any change to the statutory PFD formula                                                               
would require a vote of the people. It is Alaskans’ PFD and I trust                                                             
them with its future.                                                                                                           
                                                                                                                                
This amendment would be placed before the voters at the next state                                                              
general election.                                                                                                               
                                                                                                                                
Sincerely,                                                                                                                      
/s/                                                                                                                             
Michael J. Dunleavy                                                                                                             
Governor