00 HOUSE JOINT RESOLUTION NO. 1 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 revenues of a public enterprise or public corporation of the 14 State that issues revenue bonds, appropriations from the treasury made for a fiscal year 15 shall not exceed an amount equal to a percentage of the average of the value of the 16 real gross domestic product of the State as estimated by the federal bureau 01 responsible for economic analysis according to federal law, expressed in current 02 dollars, for the five calendar 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 fifteen percent, whichever is less. Upon an affirmative vote 05 of two-thirds of the membership of each house, the legislature may appropriate 06 an additional amount for capital improvements in excess of the limit under this 07 section, except that the total amount appropriated shall not exceed an amount 08 equal to fifteen percent of the average calculated under this section. The value of 09 the real gross domestic product in this section shall not include expenditures for 10 government spending [$2,500,000,000 BY MORE THAN THE CUMULATIVE 11 CHANGE, DERIVED FROM FEDERAL INDICES AS PRESCRIBED BY LAW, IN 12 POPULATION AND INFLATION SINCE JULY 1, 1981. WITHIN THIS LIMIT, 13 AT LEAST ONE-THIRD SHALL BE RESERVED FOR CAPITAL PROJECTS 14 AND LOAN APPROPRIATIONS. THE LEGISLATURE MAY EXCEED THIS 15 LIMIT IN BILLS FOR APPROPRIATIONS TO THE ALASKA PERMANENT 16 FUND AND IN BILLS FOR APPROPRIATIONS FOR CAPITAL PROJECTS, 17 WHETHER OF BOND PROCEEDS OR OTHERWISE, IF EACH BILL IS 18 APPROVED BY THE GOVERNOR, OR PASSED BY AFFIRMATIVE VOTE OF 19 THREE-FOURTHS OF THE MEMBERSHIP OF THE LEGISLATURE OVER A 20 VETO OR ITEM VETO, OR BECOMES LAW WITHOUT SIGNATURE, AND IS 21 ALSO APPROVED BY THE VOTERS AS PRESCRIBED BY LAW. EACH BILL 22 FOR APPROPRIATIONS FOR CAPITAL PROJECTS IN EXCESS OF THE LIMIT 23 SHALL BE CONFINED TO CAPITAL PROJECTS OF THE SAME TYPE, AND 24 THE VOTERS SHALL, AS PROVIDED BY LAW, BE INFORMED OF THE COST 25 OF OPERATIONS AND MAINTENANCE OF THE CAPITAL PROJECTS. NO 26 OTHER APPROPRIATION IN EXCESS OF THIS LIMIT MAY BE MADE 27 EXCEPT TO MEET A STATE OF DISASTER DECLARED BY THE GOVERNOR 28 AS PRESCRIBED BY LAW. THE GOVERNOR SHALL CAUSE ANY 29 UNEXPENDED AND UNAPPROPRIATED BALANCE TO BE INVESTED SO AS 30 TO YIELD COMPETITIVE MARKET RATES TO THE TREASURY]. 31 * Sec. 2. Article XV, Constitution of the State of Alaska, is amended by adding a new 01 section to read: 02 Section 30. Application of Appropriation Limit. The 2025 amendment 03 limiting appropriation increases applies to appropriations made for the fiscal year 04 ending June 30, 2028, and thereafter. 05 * Sec. 3. The amendments proposed by this resolution shall be placed before the voters of 06 the state at the next general election in conformity with art. XIII, sec. 1, Constitution of the 07 State of Alaska, and the election laws of the state.