00                            HOUSE BILL NO. 176                                                                          
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. The public members of the board shall be separately confirmed by a                                
12       majority of the members of the legislature in joint session.                                                  
13    * Sec. 2. AS 37.13.060 is amended to read:                                                                         
14            Sec. 37.13.060. Term of office. The public members of the board shall be                                   

01 appointed for terms of four years, and they may be reappointed subject to                                           
02 confirmation by a majority of the members of the legislature in joint session. The                                  
03 terms of the public members shall be staggered so that not [NO] more than one term                                  
04       of a public member expires each year.                                                                             
05    * Sec. 3. AS 37.13.070(b) is amended to read:                                                                      
06 (b)  A vacancy on the board shall be promptly filled by appointment by the                                              
07 governor and confirmation by a majority of the members of the legislature in                                        
08 joint session. An appointee to a vacancy shall hold office for the balance of the term                              
09 for which the appointee's predecessor on the board was appointed. If a vacancy                                      
10 occurs while the legislature is not in session, the governor may appoint an interim                                 
11 board member who shall exercise the powers of the board member until the next                                       
12 session of the legislature, at which time the name of the interim board member                                      
13       shall be presented to the legislature for appointment.                                                        
14    * Sec. 4. The uncodified law of the State of Alaska is amended by adding a new section to                          
15 read:                                                                                                                   
16 APPLICABILITY. (a) AS 37.13.050(a), as amended by sec. 1 of this Act, does not                                          
17 apply to members of the board who are serving on the effective date of this Act.                                        
18 (b)  On or after the effective date of this Act, members of the board who are                                           
19 reappointed under AS 37.13.060, as amended by sec. 2 of this Act, shall be confirmed by a                               
20 majority of the members of the legislature in joint session.                                                            
21       (c)  In this section, "board" has the meaning given in AS 37.13.900.                                              
22    * Sec. 5. This Act takes effect January 1, 2020.