HJR 7: Proposing an amendment to the Constitution of the State of Alaska relating to an appropriation limit.

00 HOUSE JOINT RESOLUTION NO. 7 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. (a) Except as provided in (b) of this 06 section [FOR APPROPRIATIONS FOR ALASKA PERMANENT FUND 07 DIVIDENDS, APPROPRIATIONS OF REVENUE BOND PROCEEDS, 08 APPROPRIATIONS REQUIRED TO PAY THE PRINCIPAL AND INTEREST ON 09 GENERAL OBLIGATION BONDS, AND APPROPRIATIONS OF MONEY 10 RECEIVED FROM A NON-STATE SOURCE IN TRUST FOR A SPECIFIC 11 PURPOSE, INCLUDING REVENUES OF A PUBLIC ENTERPRISE OR PUBLIC 12 CORPORATION OF THE STATE THAT ISSUES REVENUE BONDS], 13 appropriations from the treasury made for a fiscal year shall not exceed 14 appropriations made in the previous fiscal year [$2,500,000,000] by more than the 15 average cumulative change, derived from federal indices as prescribed by law, in 16 population and inflation over the previous three years.

01 (b) If the unrestricted state revenue available for appropriation in a fiscal 02 year is insufficient to cover the general fund appropriations from the treasury 03 made for that fiscal year, appropriations for that fiscal year shall not exceed the 04 appropriations made in the previous fiscal year. 05 (c) This section does not apply to appropriations to the Alaska permanent 06 fund for Alaska permanent fund dividends, appropriations of revenue bond 07 proceeds, appropriations required to pay the principal of and interest on general 08 obligation bonds, and appropriations of money received from a non-State source 09 in trust for a specific purpose, including revenue of a public enterprise or public 10 corporation of the State that issues revenue bonds. 11 (d) [SINCE JULY 1, 1981. WITHIN THIS LIMIT, AT LEAST ONE-THIRD 12 SHALL BE RESERVED FOR CAPITAL PROJECTS AND LOAN 13 APPROPRIATIONS. THE LEGISLATURE MAY EXCEED THIS LIMIT IN BILLS 14 FOR APPROPRIATIONS TO THE ALASKA PERMANENT FUND AND IN 15 BILLS FOR APPROPRIATIONS FOR CAPITAL PROJECTS, WHETHER OF 16 BOND PROCEEDS OR OTHERWISE, IF EACH BILL IS APPROVED BY THE 17 GOVERNOR, OR PASSED BY AFFIRMATIVE VOTE OF THREE-FOURTHS OF 18 THE MEMBERSHIP OF THE LEGISLATURE OVER A VETO OR ITEM VETO, 19 OR BECOMES LAW WITHOUT SIGNATURE, AND IS ALSO APPROVED BY 20 THE VOTERS AS PRESCRIBED BY LAW. EACH BILL FOR APPROPRIATIONS 21 FOR CAPITAL PROJECTS IN EXCESS OF THE LIMIT SHALL BE CONFINED 22 TO CAPITAL PROJECTS OF THE SAME TYPE, AND THE VOTERS SHALL, AS 23 PROVIDED BY LAW, BE INFORMED OF THE COST OF OPERATIONS AND 24 MAINTENANCE OF THE CAPITAL PROJECTS.] No other appropriation in excess 25 of this limit may be made except to meet a state of disaster declared by the governor as 26 prescribed by law. 27 (e) The governor shall cause any unexpended and unappropriated balance in 28 the general fund to be invested so as to yield competitive market rates to the treasury. 29 * Sec. 2. The amendment proposed by this resolution shall be placed before the voters of the 30 state at the next general election in conformity with art. XIII, sec. 1, Constitution of the State 31 of Alaska, and the election laws of the state.