05/04/2021 03:00 PM House STATE AFFAIRS

                 HB 73-PERM FUND; ADVISORY VOTE                                                                             
                                                                                                                                
3:34:13 PM                                                                                                                    
                                                                                                                                
CHAIR KREISS-TOMKINS  announced that  the next order  of business                                                               
would be HOUSE BILL NO. 73, "An  Act relating to use of income of                                                               
the  Alaska  permanent  fund;  relating  to  the  amount  of  the                                                               
permanent  fund   dividend;  relating   to  the  duties   of  the                                                               
commissioner  of revenue;  relating to  an advisory  vote on  the                                                               
permanent fund; providing for an  effective date by repealing the                                                               
effective date of sec. 8, ch.  16, SLA 2018; and providing for an                                                               
effective date."                                                                                                                
                                                                                                                                
CHAIR KREISS-TOMKINS opened public testimony on HB 73.                                                                          
                                                                                                                                
3:34:34 PM                                                                                                                    
                                                                                                                                
ADAM HYKES  said he appreciated  the advisory note in  this piece                                                               
of  legislation, which  would put  it before  Alaska voters.   He                                                               
informed the committee that he would  be a "no" vote if this ever                                                               
made it on  the ballot.  Further, he expressed  his opposition to                                                               
the proposed  50/50 split  on the already  75/25 split  on Alaska                                                               
royalties.     He   shared  his   understanding  that   the  word                                                               
"appropriation"  in the  bill suggested  a legislative  budgetary                                                               
appropriation, which he believed  was extremely far from Governor                                                               
Hammond's intent  for the  PFD.   He opined  that "what  had been                                                               
done" to  the PFD  was completely  unfair without  a vote  of the                                                               
people.   He  added that  he specifically  objected to  replacing                                                               
"corporations shall transfer"  with "legislature may appropriate"                                                               
in Section 2  on page 2, as if it  were [the legislature's] money                                                               
to begin  with, he  said.  He  recommended that  "the legislature                                                               
may  appropriate"  should  be  deleted  from  the  bill  language                                                               
entirely.                                                                                                                       
                                                                                                                                
3:37:31 PM                                                                                                                    
                                                                                                                                
CHAIR KREISS-TOMKINS,  after ascertaining  there was no  one else                                                               
who wished to testify, closed public testimony on HB 73.                                                                        
                                                                                                                                
CHAIR KREISS-TOMKINS announced that HB 73 was held over.