Proposing amendments to the Constitution of the State of Alaska to guarantee the permanent fund dividend, to provide for inflation proofing, and to require a vote of the people before changing the statutory formula for distribution that existed on January 1, 2000.

SJR 35 will protect and preserve the dividend program and the program of inflation-proofing the Fund. SJR 35 takes the current statutory formula and places it in the Constitution as an amendment to article 9, section 15.

SJR 35 will guarantee that:

• The successful 18 year history of earnings distribution is preserved;
• The dividend is protected - no change to the current program without a Vote of the People.
• Inflation-proofing is protected - no change to the current program without a Vote of the People.
• No new taxes are included in SJR 35.
• Once Alaskans feel confident the dividend program is safe and the integrity of the Permanent Fund is safe, then we can begin the discussion about what to do with any excess earnings.

This is the most important step the Legislature can take to show Alaskans that the promise will be kept to protect the dividend program, inflation-proofing and the future of the Permanent Fund for generations to come. You have often heard it said by the Governor and legislators that any change must be approved by a vote of the people, and you will continue to hear that phrase. But, the only way to guarantee the preservation of the Permanent Fund and the current programs of inflation-proofing and dividends, is with a constitutional amendment.