2026-01-23                     House Journal                      Page 1470
HJR 30                                                                                                                        
HOUSE JOINT RESOLUTION NO. 30 by the House Rules                                                                                
Committee by request of the Governor:                                                                                           
                                                                                                                                
     Proposing amendments to the Constitution of the State of Alaska                                                            
     relating to the Alaska permanent fund; relating to appropriations                                                          
     from the Alaska permanent fund; relating to transfers out of the                                                           
     Alaska permanent fund; and requiring payment of a dividend to                                                              
     eligible state residents.                                                                                                  

2026-01-23                     House Journal                      Page 1471
was read the first time and referred to the Finance Committee.                                                                  
                                                                                                                                
The following fiscal note(s) apply:                                                                                             
                                                                                                                                
1. Zero, Office of the Governor                                                                                                 
                                                                                                                                
The Governor's transmittal letter dated January 22 follows:                                                                     
                                                                                                                                
"Dear Speaker Edgmon:                                                                                                           
                                                                                                                                
Under the authority of Article III, Section 18 of the Alaska                                                                    
Constitution, I am transmitting a proposed amendment to the                                                                     
Constitution of the State of Alaska relating to the Alaska permanent                                                            
fund. This constitutional amendment is designed to provide long-term                                                            
fiscal certainty, extend constitutional protections to Permanent Fund                                                           
earnings and establish durable rules for withdrawals, and place the                                                             
Permanent Fund Dividend beyond annual political cycles.                                                                         
                                                                                                                                
This amendment makes three reforms. First, it ends the current two-                                                             
account structure by merging the earnings reserve account into the                                                              
permanent fund corpus. Second, it establishes a limit on withdrawals                                                            
by capping the annual draw at five percent of the fund’s average                                                                
market value using the existing five-year formula. Third, it requires                                                           
the annual draw to be split equally: half is guaranteed to eligible                                                             
Alaskans as dividends – without political games or further                                                                      
appropriation – and half is available to fund essential operations of                                                           
government.                                                                                                                     
                                                                                                                                
Alaskans deserve a Permanent Fund that is protected, predictable, and                                                           
fair. This constitutional amendment allows the people of Alaska to                                                              
decide that future directly.                                                                                                    
                                                                                                                                
I urge your prompt and favorable action on this measure.                                                                        
                                                                                                                                
Sincerely,                                                                                                                      
/s/                                                                                                                             
Mike Dunleavy                                                                                                                   
Governor"