SJR 301: Proposing amendments to the Constitution of the State of Alaska relating to an appropriation limit; and relating to the budget reserve fund.
00 SENATE JOINT RESOLUTION NO. 301 01 Proposing amendments to the Constitution of the State of Alaska relating to an 02 appropriation limit; and relating to the budget reserve fund. 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 to the Alaska permanent fund, 07 appropriations of revenue bond and general obligation bond proceeds, 08 appropriations required to pay the principal and interest on revenue bonds and 09 general obligation bonds, appropriations to a State account or fund that requires a 10 subsequent appropriation from that account or fund as prescribed by law, 11 appropriations to meet a state of disaster declared by the governor as prescribed 12 by law, and appropriations of money received from a non-State source in trust for a 13 specific purpose [, INCLUDING REVENUES OF A PUBLIC ENTERPRISE OR 14 PUBLIC CORPORATION OF THE STATE THAT ISSUES REVENUE BONDS], 15 appropriations from the treasury made for a fiscal year shall not exceed an amount 16 equal to a percentage of the average of the value of the real gross domestic
01 product of the State reported by federal indices as prescribed by law for the five 02 fiscal years immediately preceding the prior fiscal year. The percentage that 03 applies to the calculation in this section shall be established by law except that the 04 percentage shall be not more than fourteen percent. The value of the real gross 05 domestic product in this section shall not include expenditures for government 06 spending [$2,500,000,000 BY MORE THAN THE CUMULATIVE CHANGE, 07 DERIVED FROM FEDERAL INDICES AS PRESCRIBED BY LAW, IN 08 POPULATION AND INFLATION SINCE JULY 1, 1981. WITHIN THIS LIMIT, 09 AT LEAST ONE-THIRD SHALL BE RESERVED FOR CAPITAL PROJECTS 10 AND LOAN APPROPRIATIONS. THE LEGISLATURE MAY EXCEED THIS 11 LIMIT IN BILLS FOR APPROPRIATIONS TO THE ALASKA PERMANENT 12 FUND AND IN BILLS FOR APPROPRIATIONS FOR CAPITAL PROJECTS, 13 WHETHER OF BOND PROCEEDS OR OTHERWISE, IF EACH BILL IS 14 APPROVED BY THE GOVERNOR, OR PASSED BY AFFIRMATIVE VOTE OF 15 THREE-FOURTHS OF THE MEMBERSHIP OF THE LEGISLATURE OVER A 16 VETO OR ITEM VETO, OR BECOMES LAW WITHOUT SIGNATURE, AND IS 17 ALSO APPROVED BY THE VOTERS AS PRESCRIBED BY LAW. EACH BILL 18 FOR APPROPRIATIONS FOR CAPITAL PROJECTS IN EXCESS OF THE LIMIT 19 SHALL BE CONFINED TO CAPITAL PROJECTS OF THE SAME TYPE, AND 20 THE VOTERS SHALL, AS PROVIDED BY LAW, BE INFORMED OF THE COST 21 OF OPERATIONS AND MAINTENANCE OF THE CAPITAL PROJECTS. NO 22 OTHER APPROPRIATION IN EXCESS OF THIS LIMIT MAY BE MADE 23 EXCEPT TO MEET A STATE OF DISASTER DECLARED BY THE GOVERNOR 24 AS PRESCRIBED BY LAW. THE GOVERNOR SHALL CAUSE ANY 25 UNEXPENDED AND UNAPPROPRIATED BALANCE TO BE INVESTED SO AS 26 TO YIELD COMPETITIVE MARKET RATES TO THE TREASURY]. 27 * Sec. 2. Article IX, sec. 17(b), Constitution of the State of Alaska, is amended to read: 28 (b) If the amount in the general fund available for appropriation for a fiscal 29 year is less than the appropriation limit under Section 16 of this article [AMOUNT 30 APPROPRIATED FOR THE PREVIOUS FISCAL YEAR], an appropriation may be 31 made from the budget reserve fund. However, the amount appropriated from the fund
01 under this subsection [MAY NOT EXCEED THE AMOUNT NECESSARY], when 02 added to the amount in the general fund [OTHER FUNDS] available for 03 appropriation, may not exceed the appropriation limit under Section 16 of this 04 article. For purposes of this subsection, the amount in the general fund available 05 for appropriation does not include the exceptions to the appropriation limit set 06 forth in Section 16 of this article [TO PROVIDE FOR TOTAL APPROPRIATIONS 07 EQUAL TO THE AMOUNT OF APPROPRIATIONS MADE IN THE PREVIOUS 08 CALENDAR YEAR FOR THE PREVIOUS FISCAL YEAR]. 09 * Sec. 3. Article XV, Constitution of the State of Alaska, is amended by adding a new 10 section to read: 11 Section 30. Application of Appropriation Limit. The 2022 amendment 12 limiting appropriation increases applies to appropriations made for the fiscal year 13 ending June 30, 2024, and thereafter. 14 * Sec. 4. The amendments proposed by this resolution shall be placed before the voters of 15 the state at the next general election in conformity with art. XIII, sec. 1, Constitution of the 16 State of Alaska, and the election laws of the state.