00                       HOUSE JOINT RESOLUTION NO. 403                                                                    
01 Proposing amendments to the Constitution of the State of Alaska relating to an                                          
02 unrestricted general fund surplus, the Alaska permanent fund, and the budget reserve                                    
03 fund.                                                                                                                   
04 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
05    * Section 1. Article IX, Constitution of the State of Alaska, is amended by adding a new                           
06 section to read:                                                                                                      
07            Section 18. Unrestricted General Fund Surplus. (a) At the end of each fiscal                               
08       year, the amount of the unrestricted general fund surplus shall be determined as                                  
09       provided by law.                                                                                                  
10            (b)  Each year, fifty percent of the amount determined under (a) of this section                             
11       shall be transferred for use in a program of dividend payments to eligible State                                  
12       residents as provided by law.                                                                                     
13            (c)  After the transfer in (b) of this section, the remainder of the amount                                  
14       determined under (a) of this section shall be transferred to the budget reserve fund (art.                        
15       IX, sec. 17).                                                                                                     
01    * Sec. 2. Article XV, Constitution of the State of Alaska, is amended by adding a new                              
02 section to read:                                                                                                        
03            Section 30. Applicability of Amendments. The 2022 amendments relating to                                   
04       the unrestricted general fund surplus and the repeal of art. IX, sec. 17(d), Constitution                         
05       of the State of Alaska, apply to the fiscal year ending June 30, 2024, and thereafter.                            
06    * Sec. 3. Article IX, sec. 17(d), Constitution of the State of Alaska, is repealed.                                
07    * Sec. 4. 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.