Governor Dunleavy proposes amendments to Alaska Constitution to “strengthen” Permanent Fund Dividend

Updated: May. 12, 2021 at 8:01 PM AKDT
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FAIRBANKS, Alaska (KTVF) - The governor of the State of Alaska has taken steps that he believes will protect the Permanent Fund Dividend (PFD) for future generations.

This year, Mike Dunleavy proposed an amendment to the Alaska Constitution.

On Wednesday, May 15th, the Senate Judiciary Committee revised the amendment, one of three proposed by the governor, and put forward a new version at the governor’s request.

The revisions state that the amendment would enshrine in the state’s constitution the ‘Percent of Market Value’ formula for calculating the PFD.

It would also split the Permanent Fund’s yearly distribution fifty-fifty between PFD’s and government spending.

At a press conference, Dunleavy was joined by Speaker of the House Louise Stutes and Senate President Peter Micciche, who spoke in support of his efforts.

Dunleavy says he feels, like never before, a commitment from legislators to fix the issue.

“The folks in this room, and many that aren’t, believe that this needs to be solved now, that this is on our watch, that we need to solve this now. We need to take care of these issues now, and I gotta tell you, there’s a lot of discussions about how we oftentimes don’t get along. I think what you’re seeing here today is an example of where people agree that we got a problem, that we have to fix it, that what’s going to be introduced today is definitely a very good starting point,” he said.

The amendments would require a two-thirds vote in both the State House and the Senate in order to be officially proposed.

The amendments would then be put up for a vote on the November 2022 ballot, in which a simple majority vote would adopt them.

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