00                         HOUSE RESOLUTION NO. 7                                                                         
01 Establishing a House Special Committee on Fiscal Policy.                                                                
02 BE IT RESOLVED BY THE HOUSE OF REPRESENTATIVES:                                                                         
03       WHEREAS the State of Alaska's fiscal policy is of vital importance to the state's                               
04 long-term financial well-being; and                                                                                     
05       WHEREAS petroleum has been the primary source of revenue to the State of Alaska                                 
06 for more than 30 years; and                                                                                             
07       WHEREAS the Alaska State Legislature is responsible for the appropriation of funds                              
08 to support state services; and                                                                                          
09       WHEREAS petroleum production is falling at an annual rate of 4 to 6 percent; and                                
10       WHEREAS state agency general fund operating budgets have increased at an average                                
11 annual rate of 6.8 percent during the past five years; and                                                              
12       WHEREAS the Alaska State Legislature believes it is prudent to plan for times of                                
13 lower revenue;                                                                                                          
14       BE IT RESOLVED by the House of Representatives that a House Special Committee                                   
15 on Fiscal Policy is established to examine the state's current and future fiscal situation and                          
16 make recommendations to ensure a sound fiscal future; and be it                                                         

01       FURTHER RESOLVED that the speaker of the House of Representatives shall                                         
02 determine the number of representatives to be members of the committee and shall appoint                                
03 the members and designate a member to chair the committee; and be it                                                    
04       FURTHER RESOLVED that the House Special Committee on Fiscal Policy may                                          
05 meet during and between sessions of the Twenty-Seventh Alaska State Legislature and is to                               
06 terminate on the convening of the First Session of the Twenty-Eighth Alaska State                                       
07 Legislature.