SJR 24: Proposing amendments to the Constitution of the State of Alaska relating to the budget reserve fund.
00 SENATE JOINT RESOLUTION NO. 24 01 Proposing amendments to the Constitution of the State of Alaska relating to the budget 02 reserve fund. 03 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. Article IX, sec. 17(a), Constitution of the State of Alaska, is amended to read: 05 (a) There is established as a separate fund in the State treasury the budget 06 reserve fund. Except for money deposited into the permanent fund under Section 15 07 of this article, all money received by the State after July 1, 1990, as a result of the 08 termination, through settlement or otherwise, of an administrative proceeding or of 09 litigation in a State or federal court involving mineral lease bonuses, rentals, royalties, 10 royalty sale proceeds, federal mineral revenue sharing payments or bonuses, or 11 involving taxes imposed on mineral income, production, or property, shall be 12 deposited in the budget reserve fund. Money in the budget reserve fund shall be 13 invested so as to yield competitive market rates to the fund. Income of the fund shall 14 be retained in the fund. Section 7 of this article does not apply to deposits made to the 15 fund under this subsection. Money may be transferred from the fund only as 16 authorized under (b) of this section and money may be appropriated from the fund
01 only as authorized under [(b) OR] (c) of this section. 02 * Sec. 2. Article IX, sec. 17(b), Constitution of the State of Alaska, is amended to read: 03 (b) If the amount available for appropriation for a fiscal year is not sufficient 04 to fully fund the amount appropriated for that year, money shall be transferred 05 [LESS THAN THE AMOUNT APPROPRIATED FOR THE PREVIOUS FISCAL 06 YEAR, AN APPROPRIATION MAY BE MADE] from the budget reserve fund and 07 used to fund appropriations from the unrestricted general fund. However, the 08 amount transferred [APPROPRIATED] from the fund under this subsection may not 09 exceed the amount necessary, when added to other funds available for appropriation, 10 to provide for total funding [APPROPRIATIONS] equal to the amount of 11 appropriations made [IN THE PREVIOUS CALENDAR YEAR] for the previous 12 fiscal year. For purposes of applying this subsection, amounts available for 13 appropriation or appropriated from federal funds, income of the permanent 14 fund, or this budget reserve fund may not be considered. For purposes of this 15 subsection, "unrestricted general fund" shall be defined by law. 16 * Sec. 3. Article IX, sec. 17(d), Constitution of the State of Alaska, is repealed. 17 * Sec. 4. The amendments proposed by this resolution shall be placed before the voters of 18 the state at the next general election in conformity with art. XIII, sec. 1, Constitution of the 19 State of Alaska, and the election laws of the state.