Trustees are considering that idea and others, including an amendment to the state constitution, as they seek to increase the fund’s value
The trustees of the Alaska Permanent Fund Corp. are considering whether to back legislation that could exempt the corporation from the state’s open meetings act and the state’s procurement rules, as well as conceal personnel records from public records requests.
The fund’s value is critical to state finances because state law automatically transfers a percentage of the fund to the state treasury each year. That transfer accounts for more than 50% of the state’s general-purpose revenue. Much of the discussion centered on possible changes to investment management, but trustees also considered changes to state law that might give the corporation “greater flexibility” as it pursues investments.Former Alaska Department of Environmental Commissioner Jason Brune, appointed by Gov.
“I don’t think anything we’re doing is so special and different from any other public corporation or municipal government that follows these rules,” Richards said. “It’s a little bit of hubris to say that we can’t operate in the same manner that others do without success.”
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