The Earnings Reserve is the legislature's.  The Dividends portion of the Earnings Reserve (where the Dividends are stored until paid) have generally been hands-off. This legislative body is proposing to take $4 Billion from the Earnings Reserve, which will take the other half of last year's PFD.  They're also taking 1/2 of the mineral resource revenues that are supposed to go into the Permanent Fund.  They can do this because those funds are being taken before they go into the Permanent Fund.  So, they're draining the Earnings Reserve, taking away earnings from the Permanent Fund and are trying to by-pass the Earnings Reserve and have those earnings go directly into government.  So, due to THIS year's legislature, the Permanent Fund and the Earnings Reserve will go away.