00                            HOUSE BILL NO. 143                                                                          
01 "An Act relating to the policy of the state regarding the source of funding used to cover                               
02 a shortfall in general fund revenue."                                                                                   
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 37.07.010 is amended by adding a new subsection to read:                                          
05            (b)  It is the policy of the State of Alaska that the amounts necessary to fund                              
06       any shortfalls in general fund revenues that are less than general fund appropriations                            
07       for a fiscal year must be appropriated equally from the constitutional budget reserve                             
08       fund (art. IX, sec. 17, Constitution of the State of Alaska) and the earnings reserve                             
09       account (AS 37.13.145) before the enactment of a new tax.  This policy does not apply                             
10       to a new tax that is enacted by initiative.