00         SENATE CS FOR CS FOR HOUSE JOINT RESOLUTION NO. 42(TRA)                                                        
01 Proposing amendments to the Constitution of the State of Alaska creating a                                              
02 transportation infrastructure 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 not                             
06       be dedicated to any special purpose, except as provided in Sections 15 and 18                                 
07       [SECTION 15] of this article or when required by the federal government for state                                 
08       participation in federal programs. This provision shall not prohibit the continuance of                           
09       any dedication for special purposes existing on April 24, 1956 [UPON THE DATE                                 
10       OF RATIFICATION OF THIS SECTION BY THE PEOPLE 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. Transportation Infrastructure Fund. (a) The revenue received                                   
14       after July 1, 2011, from any state tax on fuel used for the propulsion of motor vehicles,                         
15       aircraft, and watercraft, less those refunds, credits, and collection costs that are                              
16       provided by law, and from a registration fee levied for a motor vehicle, not including                            

01       special registration fees as provided by law, shall be placed in a transportation                                 
02       infrastructure fund. The legislature may appropriate additional amounts to the fund.                              
03       The fund shall be managed as an endowment. Each year, the legislature may                                         
04       appropriate a percentage of the state fuel taxes and registration fees received by the                            
05       fund in that year and a percentage of the average market value of the fund as                                     
06       established by law for capital projects for transportation and related facilities that are                        
07       designated by law and for costs related to motor vehicle licensing and registration that                          
08       are designated by law.                                                                                            
09            (b)  The legislature shall provide by law for the management and investment of                               
10       the fund balance. The income earned from the fund shall be deposited into the fund.                               
11    * Sec. 3. The amendments proposed by this resolution shall be placed before the voters of                          
12 the state at the next general election in conformity with art. XIII, sec. 1, Constitution of the                        
13 State of Alaska, and the election laws of the state.