00               CS FOR SENATE JOINT RESOLUTION NO. 23(FIN) am                                                            
01 Proposing amendments to the Constitution of the State of Alaska relating to an                                          
02 appropriation limit and a spending 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  Article IX, sec. 16, Constitution of the State of Alaska, is repealed and                            
05 readopted to read:                                                                                                      
06            Section 16.  Appropriation and Spending Limit.  (a)  Except for                                            
07       appropriations for Alaska permanent fund dividends, appropriations to the Alaska                                  
08       permanent fund, appropriations to meet a state of disaster declared by the governor as                            
09       prescribed by law, appropriations for the Alaska Railroad, appropriations of state                                
10       general obligation and revenue bond proceeds, appropriations required to pay the                                  
11       principal and interest on state general obligation and revenue bonds, and                                         
12       appropriations of money received from the federal government, appropriations made                                 
13       for a fiscal year shall not exceed $3,100,000,000 by more than fifty percent of the                               
14       cumulative change, derived from federal indices as prescribed by law, in population                               
15       and inflation since July 1, 2000.  The governor shall cause any unexpended and                                    
16       unappropriated balance to be invested so as to yield competitive market rates to the                              

01       treasury.                                                                                                         
02            (b)  An appropriation that exceeds the limit established under (a) of this section                           
03       may be made for any public purpose upon affirmative vote of two-thirds of the                                     
04       members of each house of the legislature.  However, the total amount of                                           
05       appropriations made under this subsection for a fiscal year that exceeds the limit of (a)                         
06       of this section, when added to other appropriations made for that year that are within                            
07       the limit of (a) of this section, may not exceed $3,100,000,000 by more than seventy-                             
08       five percent of the cumulative change, derived from federal indices as prescribed by                              
09       law, in population and inflation since July 1, 2000.                                                              
10            (c)  If appropriations for a fiscal year exceed the amount that may be                                       
11       appropriated under (a) or (b) of this section, the governor shall reduce expenditures by                          
12       the executive branch for its operation and administration to the extent necessary to                              
13       avoid spending more than the amount that may be appropriated under (a) or (b) of this                             
14       section.  This subsection does not apply to expenditures that are approved by a                                   
15       resolution concurred in by at least two-thirds of the members of each house.                                      
16    * Sec. 2.  Article XV, Constitution of the State of Alaska, is amended by adding a new                             
17 section to read:                                                                                                        
18            Section 30.  Reconsideration of Appropriation and Spending Limit.  If the                                  
19       2002 amendment relating to an appropriation and spending limit (art. IX, sec. 16) is                              
20       adopted, the lieutenant governor shall place the ballot title and proposition for the                             
21       amendment on the ballot again at the general election in 2010 and every eight years                               
22       thereafter unless it is rejected.  If the majority of those voting on the proposition                             
23       rejects the amendment, Section 16 of Article IX is repealed on the date the election is                           
24       certified.                                                                                                        
25    * Sec. 3.  The amendments proposed by this resolution shall be placed before the voters of                         
26 the state at the next general election in conformity with art. XIII, sec. 1, Constitution of the                        
27 State of Alaska, and the election laws of the state.