00                 CS FOR SENATE JOINT RESOLUTION NO. 25(JUD)                                                              
01 Proposing an amendment to the Constitution of the State of Alaska relating to                                           
02 education.                                                                                                              
03 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  Article IX, Constitution of the State of Alaska, is amended by adding a new                          
05 section to read:                                                                                                        
06            Section 18.  Education Fund.  (a)  The legislature may create an education                                 
07       fund as a separate fund in the state treasury.  The principal of the fund consists of land                        
08       or money appropriated by the legislature.  Money in the education fund shall be                                   
09       invested so as to yield competitive market rates to the fund.  Income of the fund shall                           
10       be retained in the fund unless it is appropriated under (b) of this section.  Section 7 of                        
11       this article does not apply to deposits made to the fund or to income retained in the                             
12       fund.                                                                                                             
13            (b)  Money in the education fund may be appropriated only for public                                         
14       elementary and secondary education.                                                                               
15    * Sec. 2.  The amendment proposed by this resolution shall be placed before the voters of                          
16 the state at the next general election in conformity with art. XIII, sec. 1, Constitution of the                        
01 State of Alaska, and the election laws of the state.