Official Election Pamphlet --
Special Advisory Vote - Full Text of Bill
[SENATE CS FOR CS FOR HOUSE BILL NO. 1001 (FINANCE) AM S]
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
* Section 1. ADVISORY VOTE. At a special election to be held on September 14, 1999, in
substantial compliance with the election laws of the state, including absentee voting and the
preparation, publication, and mailing of an election pamphlet under AS 15.58.010 - 15.58.090,
the lieutenant governor shall place before the qualified voters of the state a question advisory
to the legislature and the governor. The election pamphlet for the special election must comply
with AS 15.58.020(6), including the requirement that it contain statements that advocate voter
approval or rejection of the question. Notwithstanding AS 15.60.005 and other laws relating to
preparation of the ballot proposition, the question shall appear on the ballot in the following
Preamble: The people of Alaska created the Alaska Permanent Fund to save a portion of Alaska's
petroleum revenue for the future. After investing those savings, the original intent and purpose
was to use the earnings from those investments when Alaska's petroleum revenues declined.
Petroleum revenues have now declined substantially and are forecast to continue to decline. Our
reliance upon declining oil production and volatile oil prices constitutes an unsustainable
state budget system. The governor and state legislature seek the public's judgment regarding a
stable and sustainable long-term balanced budget plan.
Balanced Budget Plan: This will preserve the permanent fund dividend, inflation-proof the
permanent fund, support public services, and establish a Citizens' Balanced Budget Task Force.
The Balanced Budget Plan will:
Question: After paying annual dividends to residents and inflation-proofing the permanent fund,
should a portion of permanent fund investment earnings be used to help balance the state budget?
- Spending Reductions: Continue state general fund budget reductions and commit to
long-term budget discipline and efficiencies.
- Permanent Fund Protection: Guarantee the Alaska permanent fund principal remains
untouched. Inflation-proof the permanent fund to protect its value for all
Alaskans, including future generations.
- Permanent Fund Dividends: Guarantee a dividend to eligible Alaskan residents at a
minimum of $1,700 in 1999 and $1,700 in 2000. Thereafter, the dividend will be
approximately $1,340 and will continue to grow with the value of the permanent
fund. After accounting for inflation-proofing, the dividend will be based on 50
percent of the annual earnings payment.
- Funding for Essential Public Services: After payment of permanent fund dividends and
inflation-proofing the fund, prioritize the annual investment earnings payment
for essential public services.
- Accountability: Fully disclose expenditures from the permanent fund earnings with
each annual permanent fund dividend.
- Balanced Budget Task Force: Establish a Citizens' Balanced Budget Task Force to
present options to further reduce state spending and identify appropriate future
- Income Tax: No personal income tax is enacted as part of this plan.
YES or NO
*Section 2. This Act takes effect immediately under AS 01.10.070(c).
Click here for the ballot language
Click here for the Legislative Affairs Agency Summary
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