Juneau -- Monday, Senator Lyda Green (R-Wasilla) announced SJR 35 at a press conference. This legislation would preserve the methods for determining Permanent Fund Dividends and inflation proofing of the fund as they exist today, and require a vote of the people to change them in the future.

“In 1997 I became aware that there was more and more pressure to use the Permanent Fund to fund state government. We were at a time when we could “use it” or “protect it.” I introduced an amendment that year that was supported by 90% of the people; however, the amendment did not pass out of the Senate,” said Green. “In 1999 we saw a plan proposed to reduce dividends. That advisory vote received a resounding 80%+ NO vote from the people. Until the permanent fund dividend and inflation proofing are protected, we will continue to see a negative vote from the public.”

Green asserted that SJR 35 is being introduced to continue the dividend program – not end it. She noted that by taking the existing formula in statute and placing it in the Constitution as an amendment to Article 9, Section 15, the plan that has worked successfully for 18 years will be continued in SJR 35.

“At this time many Alaskans think that a vote of the people is required before changes can be made to the dividend program or inflation proofing,” said Green. “Only with passage of SJR 35 will that be true. The permanent fund dividend and inflation proofing will be assured. Various plans against the dividend will no longer be a threat – because the people will be guaranteed the final say.”

SJR 35 will provide the assurance that:

• The 18 year history of earnings distribution is preserved;
• The dividend is protected - no change in the current program without a Vote Of The People;
• Inflation proofing is protected - no change in the current program without a Vote Of The People.
• No new tax issues concerning the status of the Fund (whether in statute or Constitution it is still a law that can be changed.) With SJR 35, a vote of the people will be required to make that change; and
• Once Alaskans feel confident the dividend is safe, we can begin the discussion about what to do with any excess earnings.

“This is the only step that we can take to show Alaskans their dividends are safe and that the promise will be kept to protect the dividend,” said Green.

Broadcasters note: Audio comments are available on the Majority Actuality line, 1-800-478-6540
= Lyda Green, 37 K