Permanent Fund

The Fall 2004 public opinion surveys differ little from previous polls.  By wide margins, most Alaskans want PFD's protected in the state constitution, and do NOT trust the legislature or governor with control of our Permanent Fund.  Farther down the page, see what the legislature did (or more specifically failed to do) about this important issue.

(Q)  Should the current method of Permanent Fund earnings distribution (PFD’s) be protected in the constitution?  (673 responses)

 

(A)    Yes:  72%                No:  18%                Don’t Know:  10%

 

(Q)  Do you trust the current administration and legislature with control of our Permanent Fund?  (674 responses) 

 

(A)    Yes:  14%                No:  79%                Don’t Know:  7%

 

(Q)  Do you believe that Permanent Fund earnings should be protected in the constitution for future generations?  (120 responses)

 

(A)    Yes:  88%                No:  8%                Don’t Know:  4%

Now see what the legislature thinks about the issue.  Follow the hyperlink then click on journal pages to see what action was taken or how legislators voted.  A total of 56 bills/measures were introduced during the 23rd. Legislature dealing with the Permanent Fund!  Some of the more significant are listed below:

HB 11, reduced certain royalties from mineral leases, rentals, net profit shares, and bonuses paid to the Permanent Fund from 50% to 25%, with the remaining 75% going directly to the legislature!  Sponsored by Representatives Rokeberg, Seaton, Hawker, and McGuire.  Referred to two committees in the House and one in the Senate.  PASSED the legislature, and signed into law!  See how your legislator voted by going to the Watchdog page.

 

SB 326 allows fund managers to invest more heavily in "hedge funds".  Sponsored by the Legislative Budget and Audit Committee.  Referred to two committees in the Senate and one in the House.  PASSED the legislature, and signed into law!  See how your legislator voted by going to the Watchdog page.

 

HJR 3 would have allowed a public vote on whether to put Permanent Fund earnings into the state constitution.  Sponsored by Representatives Crawford, Croft, Chenault, Kapsner, Kohring, and Wolf.  Referred to three committees in the House, but it died in the first one.  The House State Affairs Committee is chaired by Republican Representative Bruce Weyhrauch of Juneau.     

 

HJR 26 would have allowed a public vote on whether to change management of the Permanent Fund to a Percent of Market Value (POMV) plan into the state constitution. 

Governor Murkowski and the Alaska Municipal League (AML) have been promoting this plan as a way to distribute the permanent fund to state and local governments.  Referred to three committees in the House and one in the Senate.  This measure PASSED the House, but failed in the Senate.  It is sure to reappear in the 24th legislature.  See how your legislator voted by going to the Watchdog page.

 

HJR 31 would have allowed a public vote on whether to cashed out the Permanent Fund and ended PFD program forever.  Sponsored by Republican Representative Jim Holm of Fairbanks.  Referred to four committees in the House and died in the third one.

 

HJR 37 would have allowed a public vote on whether to divert natural gas revenues from the Permanent Fund and place them in a new POMV type fund with earning going to legislature and specifically NOT to the public as a PFD.  Sponsored by Republican Representative Mike Hawker of Anchorage.  Referred to two committees in the House, and it died in the first one.

 

 SJR 18 would have allowed a public vote on whether to change management of the Permanent Fund to a Percent of Market Value (POMV) plan into the state constitution.  Governor Murkowski and the Alaska Municipal League (AML) have been promoting this plan as a way to distribute the permanent fund to state and local governments.  Referred to three committees in the Senate, and it died in the third one.  It is sure to reappear in the 24th legislature.

 

SJR 19 would have allowed a public vote on whether to put Permanent Fund earnings into the state constitution.  Sponsored by Democrat Senators Lincoln and Ellis.  Referred to three committees in the Senate where it died in the Senate Finance Committee without a hearing.  The Senate Finance Committee is co-chaired by Republican Senator Lyda Green of Wasilla and Republican Senator Gary Wilken of Fairbanks.

A total of 31 bills/measures were introduced during the 22nd. Legislature dealing with the Permanent Fund! Some of the more significant are listed below: 

HB 20 would have given aid to municipalities and others using the Earnings Reserve Account (source of PFD's!) of the Permanent Fund as the funding source.  Sponsored by Representatives Moses, Davies, Foster, Wilson, Hudson, Mulder, Bunde, Stevens, Joule, Lancaster, James, and Kapsner.  Referred to three committees in the House and two in the Senate.  This bill PASSED the house and died in the Senate.  See how your legislator voted by going to the Watchdog page (22nd Legislature).

  

HB 304 would allow withdrawals from the earnings reserve account of the permanent fund for general state spending.  Sponsored by Representatives Whitaker, Fate, Mulder, and Davies.  Referred to two committees in the House and two in the Senate.  This bill PASSED the House and died in the Senate.  See how your legislator voted by going to the Watchdog page (22nd Legislature).

 

HB 398 would allow withdrawals from Permanent Fund earnings to keep the Constitutional Budget Reserve (legislators "rainy day account") Fund at $1.5 billion.  Sponsored by Republican Representatives Scalzi, Mulder, and Stevens.  Referred to two committees in the House and it died in the first one without a hearing. 

Votes for these and other major bills that passed either the House or Senate are recorded on the Watchdog page for all to see. 

Why do candidates often say one thing to get elected and then vote the opposite when in Juneau?  A lot of this mystery can be solved by visiting the APOC web site.  The Alaska Public Offices Commission post campaign finance records for each legislator that shows where the money comes from.  When comparing survey results, voting records, and campaign finance, with legislation passed (or not passed), a vivid picture of the incumbent emerges for all to see.   

Incumbent legislators that went against the public's wishes will soon be asking for your vote.  The decision to retain them is entirely up to YOU!  Make an informed choice and do what's right for Alaska's future at each election!  A list of all legislators sorted by community and election schedules has been provided for Alaska Voters convenience.  

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