00                 CS FOR HOUSE JOINT RESOLUTION NO. 4(FIN)                                                               
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, 2013, from transportation-related fees and funds shall be placed in a                               
15       transportation infrastructure fund. The legislature may appropriate additional amounts                            
16       to the fund. The fund shall be managed as an endowment. Each year, the legislature                                

01       may appropriate up to fifty percent of the transportation-related fees and funds                                  
02       received by the fund in that year and up to seven percent of the average market value                             
03       of the fund over the previous five fiscal years for transportation and related facilities                         
04       that are designated by law and for the costs to administer the fund as designated by                              
05       law. The legislature shall by law determine which fees and funds are transportation-                              
06       related under this section.                                                                                       
07            (b)  The legislature shall provide by law for the management and investment of                               
08       the fund balance. The income earned from the fund shall be deposited into the fund.                               
09    * Sec. 3. The amendments proposed by this resolution shall be placed before the voters of                          
10 the state at the next general election in conformity with art. XIII, sec. 1, Constitution of the                        
11 State of Alaska, and the election laws of the state.