Alaska Permanent Fund to Balance State Budget Advisory Question (1999)

Alaska Permanent Fund Advisory Question
Election date September 17, 1999
Topic Restricted-use funds and Revenue allocation
Status Defeated
Type Legislatively referred advisory question	Origin State legislature

Alaska Permanent Fund Advisory Question was on the ballot as a legislatively referred advisory question in Alaska on September 17, 1999. It was defeated.

A "yes" vote supported advising the state government to use a portion of the Alaska Permanent Fund to balance the state budget.

A "no" vote opposed advising the state government to use a portion of the Alaska Permanent Fund to balance the state budget.

Election results

Alaska Permanent Fund Advisory Question
Result		Votes	Percentage
Yes		30,994	16.75%
No		153,996	83.25%

Results are officially certified.

Source

Text of measure

Ballot title

The ballot title for Permanent Fund Advisory Question was as follows:

“

QUESTION 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: 1. Spending Reductions: Continue state general fund budget reductions and commit to long-term budget discipline and efficiencies. 2. 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. 3. 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. 4. 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. 5. Accountability: Fully disclose expenditures from the permanent fund earnings with each annual permanent fund dividend. 6. Balanced Budget Task Force: Establish a Citizens' Balanced Budget Task Force to present options to further reduce state spending and identify appropriate future revenue sources. 7. Income Tax: No personal income tax is enacted as part of this plan. 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? YES or NO

”

Path to the ballot

A simple majority vote is required during one legislative session for the Alaska State Legislature to place an advisory question on the ballot. That amounts to a minimum of 21 votes in the Alaska House of Representatives and 11 votes in the Alaska State Senate, assuming no vacancies.

See also

1999 Measures

• 1999 Measures
• Restricted-use funds on the ballot
• Revenue allocation on the ballot
• 1999 legislative sessions

Alaska

• Alaska ballot measures
• Alaska ballot measure laws

News and analysis

• Ballot measure lawsuits
• Ballot measure readability
• Ballot measure polls

External links

• Alaska 1999 Election Results
• 1999 Alaska Voter Guide