Alaska State Legislature

News From The House Majority

web site: http//www.akrepublicans.org
State Capitol Ken Freeman
Juneau, AK 99801 Press Secretary
Actuality line: 1-800-478-6540 (907) 258-8164

Politics To Be Removed From Permanent Fund Board Appointment Process

For Immediate Release: January 22, 1997 Contact: Rep. Jeannette James (907) 465-3743

JUNEAU - Lamenting the tremendous turnover in the top management of the Alaska Permanent Fund with both the Knowles and Hickel Administrations, Representative Jeannette James (R - North Pole) introduced legislation Wednesday to take the politics out of the Permanent Fund Board of Directors appointment process.

Representative Jeannette James said House Bill 81 is designed to create continuity within the board by restricting any Governor's ability to remove board members without cause and creating staggered terms.

"Presently Permanent Fund Board members serve at the pleasure of the Governor, HB 81 allows the Governor to replace members only for cause.

The staggered term provision allows for continuity," said James.

James noted Governor Knowles vetoed similar legislation passed in the Nineteenth Legislature, disregarding a resolution from the Permanent Fund's Board urging him not to do so.

"With the Fund breaching $20 billion, it's in the state's best interest to protect the fund from the political whims of changing administrations," said James.

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