Legislature(2003 - 2004)
2004-03-25 House JournalFull Journal pdf
2004-03-25 House Journal Page 3081 HB 544 HOUSE BILL NO. 544 by the House Rules Committee by request of the Governor, entitled: "An Act providing that public members of the Board of Trustees of the Alaska Permanent Fund Corporation may be removed only for cause; and providing for an effective date." was read the first time and referred to the State Affairs Committee. The following fiscal note(s) apply: 1. Zero, Dept. of Law 2. Zero, Dept. of Revenue The Governor's transmittal letter dated March 24, 2004, follows: "Dear Speaker Kott: Under the authority of article III, section 18, of the Alaska Constitution, I am transmitting a bill relating to removal of public members of the Board of Trustees of the Alaska Permanent Fund Corporation. This bill would provide that public members of the Board of Trustees may be removed only for cause. The bill would provide grounds for the removal of public members of the board which includes, neglect of duty, misconduct in office or conviction of certain misdemeanor or felony charges. The bill also grants Board members the opportunity to be heard at a public hearing and requires at least ten days notice of the hearing. Under existing law, it is possible to remove all Board members at a change in administration. This bill would insulate the Alaska 2004-03-25 House Journal Page 3082 Permanent Fund from partisan politics by making it more likely that Board members would be retained until the expiration of their terms. The state invests a great deal in the experience and training provided to Board members. It is in our best interests to reap the full benefit of this investment. The Alaska Permanent Fund Corporation benefits from having experienced Board members direct policy for management of the Permanent Fund. I urge your prompt and favorable action on this measure. Sincerely yours, /s/ Frank H. Murkowski Governor"