HCR 101 — Relating to the earnings of the Alaska permanent fund and establishing a bicameral legislative working group on the use of earnings of the Alaska permanent fund.

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00EnrolledHOUSE HCR101CONCURRENT 01RESOLUTION RelatingNO. to the earnings of the Alaska permanent fund and establishing a bicameral legislative 02 working group on the use of earnings of the Alaska permanent fund.

03101 _______________01 04Relating BEto ITthe RESOLVEDearnings BYof THEthe LEGISLATUREAlaska OFpermanent THEfund STATEand OFestablishing ALASKA:a bicameral 02 legislative working group on the use of earnings of the Alaska permanent fund.

0503 WHEREASBE theIT AlaskaRESOLVED permanentBY fundTHE isLEGISLATURE anOF endowmentTHE fundSTATE uniqueOF inALASKA: the United 06 States and critically important to the citizens of the state;

and04 07WHEREAS WHEREAS, for more than 30 years, the earnings of the Alaska permanent fund haveis 08an primarilyendowment beenfund usedunique forin the disbursementUnited of05 dividendsStates to the citizens of the state and forcritically 09important inflationto proofing the principalcitizens of the fund;state;

and 1006 WHEREAS, becausefor ofmore thethan declining30 oilyears, revenuethe earnings of the state,Alaska andpermanent infund pursuithave of07 theprimarily 11been diversificationused offor the state'sdisbursement revenueof sources,dividends ato portion of the earningscitizens of the Alaskastate 12and permanentfor fund08 isinflation currentlyproofing beingthe usedprincipal toof fundthe essentialfund; public services;

and 1309 WHEREASWHEREAS, because of the Alaskadeclining Stateoil Legislaturerevenue supportsof the objectivestate, ofand thein managerspursuit of 14 the Alaska10 Permanentdiversification Fundof Corporationthe tostate's meetrevenue theirsources, fiduciarya responsibilityportion toof grow the 15earnings of the Alaska 11 permanent fund andis supportscurrently abeing sustainableused permanentto fund dividendessential inpublic perpetuity;services;

and 1612 WHEREAS there are unresolved issues related to the use of the earnings of the 17 Alaska permanentState fund,Legislature includingsupports the divisionobjective of an annual draw on the earningsmanagers of 13 the Alaska permanentPermanent fund,Fund theCorporation formulato formeet thetheir calculationfiduciary ofresponsibility theto permanentgrow fund dividend, the 0214 transfer of funds from the earnings reserve account in the Alaska permanent fund to the 03 constitutionally protected principal of the Alaska permanent fund, and whethersupports thea earningssustainable of 04 the Alaska permanent fund shoulddividend be contained in aperpetuity; separate fund;

and 15 WHEREAS there are unresolved issues related to the use of the earnings of the 16 Alaska permanent fund, including the division of an annual draw on the earnings of the Alaska permanent fund, the formula for the calculation of the permanent fund dividend, the 02 transfer of funds from the earnings reserve account in the Alaska permanent fund to the 03 constitutionally protected principal of the Alaska permanent fund, and whether the earnings of 04 the Alaska permanent fund should be contained in a separate fund;