00                        HOUSE JOINT RESOLUTION NO. 7                                                                     
01 Proposing an amendment to the Constitution of the State of Alaska relating to an                                        
02 appropriation limit.                                                                                                    
03 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1. Article IX, sec. 16, Constitution of the State of Alaska, is amended to read:                       
05 Section 16. Appropriation Limit. (a) Except as provided in (b) of this                                        
06 section [FOR APPROPRIATIONS FOR ALASKA PERMANENT FUND                                                               
07 DIVIDENDS, APPROPRIATIONS OF REVENUE BOND PROCEEDS,                                                                     
08 APPROPRIATIONS REQUIRED TO PAY THE PRINCIPAL AND INTEREST ON                                                            
09 GENERAL OBLIGATION BONDS, AND APPROPRIATIONS OF MONEY                                                                   
10 RECEIVED FROM A NON-STATE SOURCE IN TRUST FOR A SPECIFIC                                                                
11 PURPOSE, INCLUDING REVENUES OF A PUBLIC ENTERPRISE OR PUBLIC                                                            
12 CORPORATION OF THE STATE THAT ISSUES REVENUE BONDS],                                                                    
13 appropriations from the treasury made for a fiscal year shall not exceed                                                
14 appropriations made in the previous fiscal year [$2,500,000,000] by more than the                                   
15 average cumulative change, derived from federal indices as prescribed by law, in                                    
16       population and inflation over the previous three years.                                                       
01 (b)  If the unrestricted state revenue available for appropriation in a fiscal                                      
02 year is insufficient to cover the general fund appropriations from the treasury                                     
03 made for that fiscal year, appropriations for that fiscal year shall not exceed the                                 
04       appropriations made in the previous fiscal year.                                                              
05 (c)  This section does not apply to appropriations to the Alaska permanent                                          
06 fund for Alaska permanent fund dividends, appropriations of revenue bond                                            
07 proceeds, appropriations required to pay the principal of and interest on general                                   
08 obligation bonds, and appropriations of money received from a non-State source                                      
09 in trust for a specific purpose, including revenue of a public enterprise or public                                 
10       corporation of the State that issues revenue bonds.                                                           
11 (d)  [SINCE JULY 1, 1981. WITHIN THIS LIMIT, AT LEAST ONE-THIRD                                                     
12 SHALL BE RESERVED FOR CAPITAL PROJECTS AND LOAN                                                                         
13 APPROPRIATIONS. THE LEGISLATURE MAY EXCEED THIS LIMIT IN BILLS                                                          
14 FOR APPROPRIATIONS TO THE ALASKA PERMANENT FUND AND IN                                                                  
15 BILLS FOR APPROPRIATIONS FOR CAPITAL PROJECTS, WHETHER OF                                                               
16 BOND PROCEEDS OR OTHERWISE, IF EACH BILL IS APPROVED BY THE                                                             
17 GOVERNOR, OR PASSED BY AFFIRMATIVE VOTE OF THREE-FOURTHS OF                                                             
18 THE MEMBERSHIP OF THE LEGISLATURE OVER A VETO OR ITEM VETO,                                                             
19 OR BECOMES LAW WITHOUT SIGNATURE, AND IS ALSO APPROVED BY                                                               
20 THE VOTERS AS PRESCRIBED BY LAW. EACH BILL FOR APPROPRIATIONS                                                           
21 FOR CAPITAL PROJECTS IN EXCESS OF THE LIMIT SHALL BE CONFINED                                                           
22 TO CAPITAL PROJECTS OF THE SAME TYPE, AND THE VOTERS SHALL, AS                                                          
23 PROVIDED BY LAW, BE INFORMED OF THE COST OF OPERATIONS AND                                                              
24 MAINTENANCE OF THE CAPITAL PROJECTS.] No other appropriation in excess                                                  
25 of this limit may be made except to meet a state of disaster declared by the governor as                                
26       prescribed by law.                                                                                                
27 (e)  The governor shall cause any unexpended and unappropriated balance in                                      
28       the general fund to be invested so as to yield competitive market rates to the treasury.                      
29    * Sec. 2. The amendment proposed by this resolution shall be placed before the voters of the                       
30 state at the next general election in conformity with art. XIII, sec. 1, Constitution of the State                      
31 of Alaska, and the election laws of the state.