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.                                                                                   
                                                                                                                                
3:34:34 PM                                                                                                                    
                                                                                                                                
ADAM HYKES  said he appreciated  the advisory note in  this piece                                                               
of legislation,  which would  put it  before the  Alaskan 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  Alaskan 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  closed public testimony and  indicated that                                                               
HB 73 was held over.