00                      SENATE JOINT RESOLUTION NO. 32                                                                    
01 Proposing amendments to the Constitution of the State of Alaska relating to a marine                                    
02 and rail transportation fund.                                                                                           
03 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  Article IX, sec. 7, Constitution of the State of Alaska, is amended to read:                         
05            Section 7.  Dedicated Funds.  The proceeds of any state tax or license shall                               
06       not be dedicated to any special purpose, except as provided in section 15 and section                         
07       18 of this article or when required by the federal government for state participation in                      
08       federal programs.  This provision shall not prohibit the continuance of any dedication                            
09       for special purposes existing upon the date of ratification of this section by the people                         
10       of Alaska.                                                                                                      
11    * Sec. 2.  Article IX, Constitution of the State of Alaska, is amended by adding a new                             
12 section to read:                                                                                                        
13            Section 18.  Marine and Rail Transportation Fund.  (a)  The legislature                                    
14       may create a marine and rail transportation fund as a separate and dedicated fund in                              
15       the state treasury.  The principal of the fund may consist of money, land, and other                              
16       assets, as provided by law.  Money in the fund shall be invested so as to yield                                   

01       competitive market rates to the fund.  Income of the fund and income derived from                                 
02       assets of the fund shall be retained in the fund unless it is appropriated under (b) of                           
03       this section.                                                                                                     
04            (b)  Money in the marine and rail transportation fund may be appropriated only                               
05       for support of marine and rail transportation systems and for support of the Alaska                               
06       Marine and Rail Transportation Authority.                                                                         
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.