00              HOUSE CS FOR SENATE JOINT RESOLUTION NO. 29(FIN)                                                           
01 Proposing an amendment to the Constitution of the State of Alaska relating to a public                                  
02 education fund.                                                                                                         
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. Public Education Fund. (a) There is established as a separate                                             
07 fund in the State treasury the public education fund. The fund consists of land                                         
08 transferred and money appropriated to the fund by the legislature, the proceeds of a                                    
09 State tax or license dedicated to and deposited into the fund by law, and all income                                    
10 earned on the fund. Money in the public education fund shall be invested so as to yield                                 
11 competitive market rates to the fund. Section 7 of this article does not apply to land                                  
12 transferred or money appropriated to the fund, the proceeds of a State tax or license                                   
13       dedicated to and deposited into the fund by law, or income earned on the fund.                                    
14            (b)  Money in the public education fund may be appropriated only for public                                  
15       education, as defined by law.                                                                                     
16    * Sec. 2. The amendment proposed by this resolution shall be placed before the voters of the                       
01 state at the next general election in conformity with art. XIII, sec. 1, Constitution of the State                      
02 of Alaska, and the election laws of the state.