00                      SENATE JOINT RESOLUTION NO. 32                                                                    
01 Proposing amendments to the Constitution of the State of Alaska relating to                                             
02 appropriations from the Alaska permanent fund to be used for a program of dividends                                     
03 for all state residents and providing a conditional effect and effective date for the                                   
04 amendment.                                                                                                              
05 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
06    * Section 1.  PURPOSE.  Alaska's constitution enshrines the principle that the state's                             
07 resources must be managed for the maximum benefit of the people.  The Alaska permanent                                  
08 fund, built on the state's resource wealth, has for decades paid dividends directly to state                            
09 residents.  The purpose of this amendment is to preserve the benefits of the permanent fund                             
10 dividend for state residents, now and in the future.                                                                    
11    * Sec. 2.  Article IX, sec. 15, Constitution of the State of Alaska, is amended by adding a                        
12 new subsection to read:                                                                                                 
13            (c)  At least eighty percent of the amount appropriated from the permanent                                   
14       fund shall be used for a program of dividend payments for all State residents                                     
15       established by law.                                                                                               

01    * Sec. 3.  Article XV, Constitution of the State of Alaska, is amended by adding a new                             
02 section to read:                                                                                                        
03            Section 30.  Conditional Effect of Section 15(c) of Article IX.                                            
04       Notwithstanding Section 1 of Article XIII, the amendment requiring a portion of                                   
05       appropriations from the permanent fund to be used for a program of dividend                                       
06       payments takes effect only if an amendment to Section 15 of Article IX to limit                                   
07       appropriations from the Alaska permanent fund based on an averaged percent of the                                 
08       fund market value is approved by the voters in the 2004 general election and takes                                
09       effect.  If this amendment concerning a program of dividend payments takes effect, it                             
10       takes effect on the date the condition is satisfied.                                                              
11    * Sec. 4.  The amendments proposed by secs. 2 and 3 of this resolution shall be placed                             
12 before the voters of the state at the next general election in conformity with art. XIII, sec. 1,                       
13 Constitution of the State of Alaska, and the election laws of the state.