00                      SENATE 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 Article IX, sec. 16, Constitution of the State of Alaska, is repealed and                             
05 readopted to read:                                                                                                      
06 Section 16. Appropriation Limit. (a) Appropriations made for a fiscal year                                            
07 shall not exceed four billion two hundred fifty million dollars by more than fifty                                      
08 percent of the cumulative change in population and inflation since July 1, 2020,                                        
09 derived from federal indices as prescribed by law. This subsection does not apply to an                                 
10       appropriation                                                                                                     
11                 (1)  to the Alaska permanent fund;                                                                      
12                 (2)  for payment of permanent fund dividends;                                                           
13                 (3)  to meet a state of disaster declared by the governor as prescribed by                              
14       law;                                                                                                              
15                 (4)  of State general obligation and revenue bond proceeds;                                             
16                 (5)  required to pay obligations under State general obligation bonds                                   

01       and revenue bonds;                                                                                                
02                 (6)  of money received from the federal government;                                                     
03                 (7)  that is a reappropriation of a previous unobligated appropriation;                                 
04                 (8)  of money for expenditure by a State agency to provide internal                                     
05       services, or to provide services to another State agency, and another State agency has                            
06       also received an appropriation of the same money;                                                                 
07                 (9)  of money held in trust by the State for a particular purpose;                                      
08                 (10)  of money received by the State from a source other than the State                                 
09       or federal government that is restricted to a specific use by the terms of a gift, grant,                         
10       bequest, or contract;                                                                                             
11                 (11)  of revenue of a public enterprise or public corporation that issues                               
12       revenue bonds;                                                                                                    
13                 (12)  of money deposited into the budget reserve fund under Section                                     
14       17(d) of this article back to the funds and accounts from which the money came;                                   
15                 (13)  of money to a State savings account or fund that requires a                                       
16       subsequent appropriation from that account or fund as prescribed by law; and                                      
17                 (14)  of dedicated funds.                                                                               
18            (b)  The governor shall cause any unexpended and unappropriated balance in                                   
19 the general fund to be invested so as to yield competitive market rates to the treasury.                              
20    * Sec. 2. The amendment proposed by this resolution shall be placed before the voters of the                       
21 state at the next general election in conformity with art. XIII, sec. 1, Constitution of the State                      
22 of Alaska, and the election laws of the state.