00               CS FOR SENATE JOINT RESOLUTION NO. 301(JUD)                                                              
01 Proposing amendments 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 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 corporate receipts [REVENUES] of a public enterprise or                                 
14 public corporation of the state that issues revenue bonds, appropriations from the                                      
15 treasury made for a fiscal year shall not exceed an amount equal to a percentage of                                 
16 the average of the value of the personal income of the residents of the State as                                    

01 estimated by the federal bureau responsible for economic analysis according to                                      
02 federal law for the five fiscal years immediately preceding the prior fiscal year.                                  
03 The percentage shall be established by law that is not a law enacted as an                                          
04 appropriation bill or fourteen percent, whichever is less. Upon an affirmative                                      
05 vote of two-thirds of the membership of each house, the legislature may                                             
06 appropriate an additional amount for capital improvements in excess of the limit                                    
07 under this section, except that the total amount appropriated shall not exceed an                                   
08 amount equal to fourteen percent of the average calculated under this section.                                      
09 The value of the personal income of the residents in this section shall not include                                 
10 compensation for state and local government employees and shall not include                                         
11 distributions of the permanent fund dividend [$2,500,000,000 BY MORE THAN                                           
12 THE CUMULATIVE CHANGE, DERIVED FROM FEDERAL INDICES AS                                                                  
13 PRESCRIBED BY LAW, IN POPULATION AND INFLATION SINCE JULY 1,                                                            
14 1981. WITHIN THIS LIMIT, AT LEAST ONE-THIRD SHALL BE RESERVED                                                           
15 FOR CAPITAL PROJECTS AND LOAN APPROPRIATIONS. THE                                                                       
16 LEGISLATURE MAY EXCEED THIS LIMIT IN BILLS FOR APPROPRIATIONS                                                           
17 TO THE ALASKA PERMANENT FUND AND IN BILLS FOR                                                                           
18 APPROPRIATIONS FOR CAPITAL PROJECTS, WHETHER OF BOND                                                                    
19 PROCEEDS OR OTHERWISE, IF EACH BILL IS APPROVED BY THE                                                                  
20 GOVERNOR, OR PASSED BY AFFIRMATIVE VOTE OF THREE-FOURTHS OF                                                             
21 THE MEMBERSHIP OF THE LEGISLATURE OVER A VETO OR ITEM VETO,                                                             
22 OR BECOMES LAW WITHOUT SIGNATURE, AND IS ALSO APPROVED BY                                                               
23 THE VOTERS AS PRESCRIBED BY LAW. EACH BILL FOR APPROPRIATIONS                                                           
24 FOR CAPITAL PROJECTS IN EXCESS OF THE LIMIT SHALL BE CONFINED                                                           
25 TO CAPITAL PROJECTS OF THE SAME TYPE, AND THE VOTERS SHALL, AS                                                          
26 PROVIDED BY LAW, BE INFORMED OF THE COST OF OPERATIONS AND                                                              
27 MAINTENANCE OF THE CAPITAL PROJECTS. NO OTHER APPROPRIATION                                                             
28 IN EXCESS OF THIS LIMIT MAY BE MADE EXCEPT TO MEET A STATE OF                                                           
29 DISASTER DECLARED BY THE GOVERNOR AS PRESCRIBED BY LAW. THE                                                             
30 GOVERNOR SHALL CAUSE ANY UNEXPENDED AND UNAPPROPRIATED                                                                  
31 BALANCE TO BE INVESTED SO AS TO YIELD COMPETITIVE MARKET                                                                

01       RATES TO THE TREASURY].                                                                                         
02    * Sec. 2. Article XV, Constitution of the State of Alaska, is amended by adding a new                              
03 section to read:                                                                                                        
04            Section 30. Application of Appropriation Limit. The 2022 amendment                                         
05       limiting appropriation increases applies to appropriations made for the fiscal year                               
06       ending June 30, 2024, and thereafter.                                                                             
07    * Sec. 3. The amendments proposed by this resolution shall be placed before the voters of                          
08 the state at the next general election in conformity with art. XIII, sec. 1, Constitution of the                        
09 State of Alaska, and the election laws of the state.