00                       HOUSE JOINT RESOLUTION NO. 2                                                                     
01 Proposing an amendment to the Constitution of the State of Alaska relating to an                                        
02 appropriation limit.                                                                                                    
03 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1. Article IX, sec. 16, Constitution of the State of Alaska, is amended to read:                         
05 Section 16. Appropriation Limit. Except for appropriations for Alaska                                                 
06 permanent fund dividends, appropriations of revenue bond proceeds, appropriations                                       
07 required to pay the principal and interest on general obligation bonds, appropriations                              
08 of money received from the federal government, and appropriations of money                                          
09 received from a non-State source in trust for a specific purpose, including revenue                                 
10 [REVENUES] of a public enterprise or public corporation of the State that issues                                        
11 revenue bonds, appropriations from the treasury made for operating expenses in a                                    
12 fiscal year shall not exceed four billion dollars [$2,500,000,000] by more than the                                 
13 cumulative change, derived from federal indices as prescribed by law, in population                                     
14 and inflation since July 1, 2017 [JULY 1, 1981. WITHIN THIS LIMIT, AT LEAST                                         
15 ONE-THIRD SHALL BE RESERVED FOR CAPITAL PROJECTS AND LOAN                                                               
16 APPROPRIATIONS]. The legislature may exceed this limit in bills for appropriations                                      

01 to the Alaska permanent fund [AND IN BILLS FOR APPROPRIATIONS FOR                                                       
02 CAPITAL PROJECTS, WHETHER OF BOND PROCEEDS OR OTHERWISE,] if                                                            
03 each bill is approved by the governor, or passed by affirmative vote of three-fourths of                                
04 the membership of the legislature over a veto or item veto, or becomes law without                                      
05 signature, and is also approved by the voters as prescribed by law. [EACH BILL FOR                                      
06 APPROPRIATIONS FOR CAPITAL PROJECTS IN EXCESS OF THE LIMIT                                                              
07 SHALL BE CONFINED TO CAPITAL PROJECTS OF THE SAME TYPE, AND                                                             
08 THE VOTERS SHALL, AS PROVIDED BY LAW, BE INFORMED OF THE COST                                                           
09 OF OPERATIONS AND MAINTENANCE OF THE CAPITAL PROJECTS.] No                                                              
10 other appropriation in excess of this limit may be made except to meet a state of                                       
11 disaster declared by the governor as prescribed by law. The governor shall cause any                                    
12 unexpended and unappropriated balance to be invested so as to yield competitive                                         
13       market rates to the treasury.                                                                                     
14    * Sec. 2. The amendment proposed by this resolution shall be placed before the voters of the                       
15 state at the next general election in conformity with art. XIII, sec. 1, Constitution of the State                      
16 of Alaska, and the election laws of the state.