00 HOUSE BILL NO. 2002 01 "An Act making appropriations for the operating and loan program expenses of state 02 government and for certain programs and capitalizing funds; making appropriations 03 under art. IX, sec. 17(c), Constitution of the State of Alaska, from the constitutional 04 budget reserve fund; and providing for an effective date." 05 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 06  * Section 1. CONSTITUTIONAL BUDGET RESERVE FUND. (a) If the unrestricted state 07 revenue available for appropriation in fiscal year 2015 is insufficient to cover the general fund 08 appropriations that take effect in fiscal year 2015, the amount necessary to balance revenue 09 and general fund appropriations is appropriated to the general fund from the budget reserve 10 fund (art. IX, sec. 17, Constitution of the State of Alaska). 11 (b) If the unrestricted state revenue available for appropriation in fiscal year 2016 is 12 insufficient to cover the general fund appropriations that take effect in fiscal year 2016, the 13 amount necessary to balance revenue and general fund appropriations is appropriated to the 14 general fund from the budget reserve fund (art. IX, sec. 17, Constitution of the State of 01 Alaska). 02 (c) The appropriations made in (a) and (b) of this section are made under art. IX, sec. 03 17(c), Constitution of the State of Alaska. 04  * Sec. 2. HIGHER EDUCATION INVESTMENT FUND. If, and only if, the appropriation 05 made in sec. 1(b) of this Act fails to pass upon an affirmative vote of three-fourths of the 06 members of each house of the Twenty-Ninth Alaska State Legislature in the Second Special 07 Session, the balance of the Alaska higher education investment fund (AS 37.14.750), after the 08 appropriation made in sec. 33, ch. 23, SLA 2015, less the amount of appropriations from the 09 Alaska higher education investment fund (AS 37.14.750) made in sec. 1, ch. 23, SLA 2015, is 10 appropriated to the Alaska Housing Capital Corporation account. 11 * Sec. 3. ALASKA PERMANENT FUND AND CONSTITUTIONAL BUDGET 12 RESERVE FUND. If, and only if, the appropriation made in sec. 1(b) of this Act fails to pass 13 upon an affirmative vote of three-fourths of the members of each house of the Twenty- 14 Ninth Alaska State Legislature in the Second Special Session, 15 (1) on June 30, 2015, the sum of $4,900,000,000 is appropriated from the 16 earnings reserve account (AS 37.13.145) to the principal of the Alaska permanent fund (art. 17 IX, sec. 15, Constitution of the State of Alaska) as prepayment to offset the effect of inflation 18 on the principal of the Alaska permanent fund as calculated under AS 37.13.145(c) for the 19 fiscal year ending June 30, 2017, and future fiscal years; 20 (2) on June 30, 2016, the sum of $1,500,000,000 is appropriated from the 21 earnings reserve account (AS 37.13.145) to the principal of the Alaska permanent fund (art. 22 IX, sec. 15, Constitution of the State of Alaska) as prepayment to offset the effect of inflation 23 on the principal of the Alaska permanent fund as calculated under AS 37.13.145(c) for the 24 fiscal year ending June 30, 2017, and future fiscal years; 25 (3) if the unrestricted state revenue available for appropriation in fiscal year 26 2016 is insufficient to cover the general fund appropriations that take effect in fiscal year 27 2016, the amount necessary to balance revenue and general fund appropriations, to the extent 28 authorized under art. IX, sec. 17(b), Constitution of the State of Alaska, is appropriated to the 29 general fund from the budget reserve fund (art. IX, sec. 17, Constitution of the State of 30 Alaska) under art. IX, sec. 17(b), Constitution of the State of Alaska. 31  * Sec. 4. LAPSE OF APPROPRIATIONS. The appropriations made in secs. 2, 3(1), and 01 3(2) of this Act are for the capitalization of funds and do not lapse. 02 * Sec. 5. RETROACTIVITY. (a) If the appropriations made in secs. 1(a) and (b) of 03 this Act fail to pass upon an affirmative vote of three-fourths of the members of 04 each house of the Twenty-Ninth Alaska State Legislature in the Second Special 05 Session and if secs. 2 and 3 of this Act take effect after June 30, 2015, secs. 2 and 06 3 of this Act are retroactive to June 30, 2015. 07 (b) If secs. 1(a), 2, 3, and 6 of this Act take effect after June 30, 2015, secs. 1(a), 2, 3, 08 and 6 of this Act are retroactive to June 30, 2015. 09  * Sec. 6. CONTINGENCY. (a) The appropriation from the Alaska higher education 10 investment fund (AS 37.14.750) made in sec. 2 of this Act is contingent on the failure of the 11 appropriation made in sec. 1(a) of this Act to pass upon an affirmative vote of three-fourths of 12 the members of each house of the Twenty-Ninth Alaska State Legislature in the Second 13 Special Session. 14 (b) The appropriations made in secs. 2 and 3 of this Act are contingent on the failure 15 of the appropriation made in sec. 1(b) of this Act to pass upon an affirmative vote of three- 16 fourths of the members of each house of the Twenty-Ninth Alaska State Legislature in the 17 Second Special Session. 18  * Sec. 7. Sections 1(a), 2, 3, 5, and 6 of this Act take effect June 30, 2015. 19  * Sec. 8. Except as provided in sec. 7 of this Act, this Act takes effect July 1, 2015.