00 SENATE JOINT RESOLUTION NO. 19 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.