A​LASKA​ L​EGISLATURE
Representative Jonathan Kreiss-Tomkins 
Angoon · Coffman Cove · Craig · Edna Bay · Elfin Cove · Game Creek · Hollis · Hoonah · Kake · Kasaan · Klawock · Kupreanof · Naukati
Pelican · Petersburg · Point Baker · Port Alexander · Port Protection · Sitka · Tenakee Springs · Thorne Bay · Whale Pass
rep.jonathan.kreiss-tomkins@akleg.gov
Committees:
State Affairs, Co-Chair
Arctic Policy, Economic Development, and Tourism
Fisheries
Community and Regional Affairs

Juneau, Alaska 99801 (Jan. – April)
State Capitol, Room 411
907.465.3732
Sitka, Alaska 99835 (May – Dec.)
201 Katlian Street, Ste. 103
907.747.4665

Sponsor Statement   HJR 18
House Joint Resolution 18 (HJR 18) constitutionally protects the real value of the Alaska
Permanent Fund — permanently, for future generations — by “hardening” the POMV
structure of SB 26, as passed by the legislature in 2018.
HJR 18 constitutionally limits appropriations from the Permanent Fund to 5% of the
average of its market value for the first five of the preceding six fiscal years. Because
POMV-based management of the Permanent Fund renders the function of the earnings
reserve account obsolete, HJR 18 also merges the earnings reserve account with the
principal; effectively all of the Permanent Fund becomes the principal.
Most important, HJR 18 addresses the urgent and bipartisan goal of protecting the real
value of the Permanent Fund for future generations. In addition, HJR 18 provides the
Alaska Permanent Fund Corporation certainty in managing assets, allowing APFC to earn a
best possible return on its investments, for the benefit of Alaskans.