HJR 39: Proposing an amendment to the Constitution of the State of Alaska relating to education.
00 HOUSE JOINT RESOLUTION NO. 39 01 Proposing an amendment to the Constitution of the State of Alaska relating to 02 education. 03 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. Article IX, Constitution of the State of Alaska, is amended by adding a new 05 section to read: 06 Section 18. Education Fund. (a) The legislature may create an education 07 fund as a separate fund in the state treasury. The principal of the fund consists of land 08 transferred to the fund or money appropriated to the fund by the legislature. Money in 09 the education fund shall be invested so as to yield competitive market rates to the 10 fund. Income of the fund shall be retained in the fund unless it is appropriated under 11 (b) of this section. Section 7 of this article does not apply to deposits made to the fund 12 or to income retained in the fund. 13 (b) Money in the education fund may be appropriated only for public 14 education. 15 * Sec. 2. The amendment proposed by this resolution shall be placed before the voters of 16 the state at the next general election in conformity with art. XIII, sec. 1, Constitution of the
01 State of Alaska, and the election laws of the state.