00                            HOUSE BILL NO. 412                                                                          
01 "An Act relating to the confirmation of appointees to the Board of Trustees of the                                      
02 Alaska Permanent Fund Corporation; relating to the appointment of public members of                                     
03 the Alaska Industrial Development and Export Authority; and providing for an effective                                  
04 date."                                                                                                                  
05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
06    * Section 1. AS 37.13.050(a) is amended to read:                                                                     
07 (a)  The Board of Trustees of the Alaska Permanent Fund Corporation consists                                            
08 of six members appointed by the governor. Two of the members must be heads of                                           
09 principal departments of state government, one of whom shall be the commissioner of                                     
10 revenue. Four members shall be appointed by the governor from the public and may                                        
11 not hold any other state or federal office, position or employment, either elective or                                  
12 appointive, except as a member of the armed forces of either the United States or of                                    
13 this state. The public members of the board shall be separately confirmed by a                                        
14       majority of the members of the legislature in joint session.                                                    

01    * Sec. 2. AS 37.13.060 is amended to read:                                                                           
02 Sec. 37.13.060. Term of office. The public members of the board shall be                                                
03 appointed for terms of four years, and they may be reappointed subject to                                             
04 confirmation by a majority of the members of the legislature in joint session. The                                    
05 terms of the public members shall be staggered so that not [NO] more than one term                                    
06       of a public member expires each year.                                                                             
07    * Sec. 3. AS 37.13.070(b) is amended to read:                                                                        
08            (b)  A vacancy on the board shall be promptly filled by appointment by the                                   
09       governor and confirmation by a majority of the members of the legislature in                                    
10 joint session. An appointee to a vacancy shall hold office for the balance of the term                                
11 for which the appointee's predecessor on the board was appointed. If a vacancy                                        
12 occurs while the legislature is not in session, the governor may appoint an interim                                   
13 board member who shall exercise the powers of the board member until the next                                         
14 session of the legislature, at which time the name of the interim board member                                        
15       shall be presented to the legislature for appointment.                                                          
16    * Sec. 4. AS 44.88.030(a) is amended to read:                                                                        
17            (a)  The membership of the authority consists of                                                             
18 (1)  the commissioner of revenue and the commissioner of commerce,                                                      
19       community, and economic development; and                                                                          
20 (2)  five public members appointed by the governor and confirmed by                                                   
21 a majority of the members of the legislature in joint session, each of whom has                                       
22 expertise in private sector business or industry, or both, and possesses demonstrated                                   
23       leadership skills.                                                                                                
24    * Sec. 5. The uncodified law of the State of Alaska is amended by adding a new section to                            
25 read:                                                                                                                   
26 APPLICABILITY. (a) AS 37.13.050(a), as amended by sec. 1 of this Act, does not                                          
27 apply to members of the board who are serving on the effective date of this Act.                                        
28 (b)  On or after the effective date of this Act, members of the board who are                                           
29 reappointed under AS 37.13.060, as amended by sec. 2 of this Act, shall be confirmed by a                               
30 majority of the members of the legislature in joint session.                                                            
31 (c)  AS 44.88.030(a), as amended by sec. 4 of this Act, does not apply to members of                                    

01 the Alaska Industrial Development and Export Authority who are serving on the effective date                            
02 of this Act.                                                                                                            
03       (d)  In this section, "board" has the meaning given in AS 37.13.900.                                              
04    * Sec. 6. This Act takes effect January 1, 2023.