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HB 2002: "An Act making appropriations for the operating and loan program expenses of state government and for certain programs and capitalizing funds; making appropriations under art. IX, sec. 17(c), Constitution of the State of Alaska, from the constitutional budget reserve fund; and providing for an effective date."

00                             HOUSE BILL NO. 2002                                                                         
01 "An Act making appropriations for the operating and loan program expenses of state                                      
02 government and for certain programs and capitalizing funds; making appropriations                                       
03 under art. IX, sec. 17(c), Constitution of the State of Alaska, from the constitutional                                 
04 budget reserve fund; and providing for an effective date."                                                              
05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
06    * Section 1. CONSTITUTIONAL BUDGET RESERVE FUND. (a) If the unrestricted state                                     
07 revenue available for appropriation in fiscal year 2015 is insufficient to cover the general fund                       
08 appropriations that take effect in fiscal year 2015, the amount necessary to balance revenue                            
09 and general fund appropriations is appropriated to the general fund from the budget reserve                             
10 fund (art. IX, sec. 17, Constitution of the State of Alaska).                                                           
11       (b) If the unrestricted state revenue available for appropriation in fiscal year 2016 is                          
12 insufficient to cover the general fund appropriations that take effect in fiscal year 2016, the                         
13 amount necessary to balance revenue and general fund appropriations is appropriated to the                              
14 general fund from the budget reserve fund (art. IX, sec. 17, Constitution of the State of                               
01 Alaska).                                                                                                                
02       (c) The appropriations made in (a) and (b) of this section are made under art. IX, sec.                           
03 17(c), Constitution of the State of Alaska.                                                                             
04    * Sec. 2. HIGHER EDUCATION INVESTMENT FUND. If, and only if, the appropriation                                     
05 made in sec. 1(b) of this Act fails to pass upon an affirmative vote of three-fourths of the                            
06 members of each house of the Twenty-Ninth Alaska State Legislature in the Second Special                                
07 Session, the balance of the Alaska higher education investment fund (AS 37.14.750), after the                           
08 appropriation made in sec. 33, ch. 23, SLA 2015, less the amount of appropriations from the                             
09 Alaska higher education investment fund (AS 37.14.750) made in sec. 1, ch. 23, SLA 2015, is                             
10 appropriated to the Alaska Housing Capital Corporation account.                                                         
11    * Sec. 3. ALASKA PERMANENT FUND AND CONSTITUTIONAL BUDGET                                                          
12 RESERVE FUND. If, and only if, the appropriation made in sec. 1(b) of this Act fails to pass                            
13 upon an affirmative vote of three-fourths of the members of each house of the Twenty-                                   
14 Ninth Alaska State Legislature in the Second Special Session,                                                           
15            (1)  on June 30, 2015, the sum of $4,900,000,000 is appropriated from the                                    
16 earnings reserve account (AS 37.13.145) to the principal of the Alaska permanent fund (art.                             
17 IX, sec. 15, Constitution of the State of Alaska) as prepayment to offset the effect of inflation                       
18 on the principal of the Alaska permanent fund as calculated under AS 37.13.145(c) for the                               
19 fiscal year ending June 30, 2017, and future fiscal years;                                                              
20            (2)  on June 30, 2016, the sum of $1,500,000,000 is appropriated from the                                    
21 earnings reserve account (AS 37.13.145) to the principal of the Alaska permanent fund (art.                             
22 IX, sec. 15, Constitution of the State of Alaska) as prepayment to offset the effect of inflation                       
23 on the principal of the Alaska permanent fund as calculated under AS 37.13.145(c) for the                               
24 fiscal year ending June 30, 2017, and future fiscal years;                                                              
25            (3)  if the unrestricted state revenue available for appropriation in fiscal year                            
26 2016 is insufficient to cover the general fund appropriations that take effect in fiscal year                           
27 2016, the amount necessary to balance revenue and general fund appropriations, to the extent                            
28 authorized under art. IX, sec. 17(b), Constitution of the State of Alaska, is appropriated to the                       
29 general fund from the budget reserve fund (art. IX, sec. 17, Constitution of the State of                               
30 Alaska) under art. IX, sec. 17(b), Constitution of the State of Alaska.                                                 
31    * Sec. 4. LAPSE OF APPROPRIATIONS. The appropriations made in secs. 2, 3(1), and                                   
01 3(2) of this Act are for the capitalization of funds and do not lapse.                                                  
02    * Sec. 5. RETROACTIVITY. (a) If the appropriations made in secs. 1(a) and (b) of                                   
03 this Act fail to pass upon an affirmative vote of three-fourths of the members of                                       
04 each house of the Twenty-Ninth Alaska State Legislature in the Second Special                                           
05 Session and if secs. 2 and 3 of this Act take effect after June 30, 2015, secs. 2 and                                   
06 3 of this Act are retroactive to June 30, 2015.                                                                         
07       (b)  If secs. 1(a), 2, 3, and 6 of this Act take effect after June 30, 2015, secs. 1(a), 2, 3,                    
08 and 6 of this Act are retroactive to June 30, 2015.                                                                     
09    * Sec. 6. CONTINGENCY. (a) The appropriation from the Alaska higher education                                      
10 investment fund (AS 37.14.750) made in sec. 2 of this Act is contingent on the failure of the                           
11 appropriation made in sec. 1(a) of this Act to pass upon an affirmative vote of three-fourths of                        
12 the members of each house of the Twenty-Ninth Alaska State Legislature in the Second                                    
13 Special Session.                                                                                                        
14       (b)  The appropriations made in secs. 2 and 3 of this Act are contingent on the failure                           
15 of the appropriation made in sec. 1(b) of this Act to pass upon an affirmative vote of three-                           
16 fourths of the members of each house of the Twenty-Ninth Alaska State Legislature in the                                
17 Second Special Session.                                                                                                 
18    * Sec. 7. Sections 1(a), 2, 3, 5, and 6 of this Act take effect June 30, 2015.                                     
19    * Sec. 8. Except as provided in sec. 7 of this Act, this Act takes effect July 1, 2015.