HJR 18-CONST AM: PERMANENT FUND; POMV;EARNINGS                                                                     
                                                                                                                              
3:44:27 PM                                                                                                                    
                                                                                                                                
CO-CHAIR  KREISS-TOMKINS   announced  that  the  next   order  of                                                               
business  would  be  HOUSE JOINT  RESOLUTION  NO.  18,  Proposing                                                               
amendments to  the Constitution of  the State of  Alaska relating                                                               
to  the Alaska  permanent  fund and  to  appropriations from  the                                                               
Alaska permanent fund.                                                                                                          
                                                                                                                                
CO-CHAIR FIELDS  relayed that  he supports HJR  18 as  a fiscally                                                               
conservative approach to  ensure the protection of  the corpus of                                                               
the permanent fund and the  permanent fund dividend (PFD) for the                                                               
next generations.                                                                                                               
                                                                                                                                
REPRESENTATIVE LEDOUX  stated that  she does  not support  HJR 18                                                               
because she believes it would lead to smaller PFDs.                                                                             
                                                                                                                                
REPRESENTATIVE WOOL  said that he has  reservations regarding HJR                                                               
18;  however,  he is  concerned  that  the  Senate will  pass  an                                                               
unbalanced budget  and the  legislature will  need to  take money                                                               
from  the earnings  reserve account  (ERA) or  the constitutional                                                               
budget reserve fund (CBRF).  He  maintained that HJR 18 is needed                                                               
to ensure financial security.                                                                                                   
                                                                                                                                
3:46:56 PM                                                                                                                    
                                                                                                                                
CO-CHAIR  FIELDS moved  to report  HJR 18  out of  committee with                                                               
individual recommendations and the attached zero fiscal note.                                                                   
                                                                                                                                
A  roll  call  vote  was taken.    Representatives  Story,  Wool,                                                               
Fields, and  Kreiss-Tomkins voted in  favor reporting HJR  18 out                                                               
of  committee.   Representatives  LeDoux, Vance,  and Shaw  voted                                                               
against it.  Therefore, HJR 18  was reported from the House State                                                               
Affairs Standing Committee by a vote of 4-3.