SENATE BILL NO. 51                                                           
                                                                               
       An Act relating  to income of  the permanent fund;  and                 
       providing for an effective date.                                        
                                                                               
  Senator Rieger referenced  additional legislation  involving                 
  the Alaska Permanent  Fund and MOVED  for passage of SB  51,                 
  relating  to inflation proofing for the fund.  Senator Sharp                 
  OBJECTED and  Co-chairman Halford joined  in the  objection.                 
  The Co-chairman then called for a show of hands.  The motion                 
  failed on a vote of 3 to 4 with Senators Rieger, Donley, and                 
  Phillips voting in support of passage.                                       
                                                                               
  [Senator Rieger  subsequently withdrew  the bill  on May  4,                 
  1996.]