00                CS FOR SENATE JOINT RESOLUTION NO. 2(STA)                                                               
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 Article IX, sec. 16, Constitution of the State of Alaska, is repealed and                             
05 readopted to read:                                                                                                      
06 Section 16. Appropriation Limit. (a) Appropriations made for a fiscal year                                            
07 shall not exceed four billion three hundred million dollars by more than fifty percent                                  
08 of the cumulative change in population and inflation since July 1, 2020, derived from                                   
09 federal indices as prescribed by law. This subsection does not apply to an                                              
10       appropriation                                                                                                     
11                 (1)  to the Alaska permanent fund;                                                                      
12                 (2)  of receipts of the Alaska permanent fund to the Alaska Permanent                                   
13       Fund Corporation;                                                                                                 
14                 (3)  for payment of permanent fund dividends;                                                           
15                 (4)  to meet a state of disaster declared by the governor as prescribed by                              
16       law;                                                                                                              

01                 (5)  of State general obligation and revenue bond proceeds;                                             
02                 (6)  required to pay obligations under State general obligation bonds                                   
03       and revenue bonds;                                                                                                
04                 (7)  of money received from the federal government;                                                     
05                 (8)  that is a reappropriation of a previous unobligated appropriation;                                 
06                 (9)  that is duplicating the authorization to expend funds from another                                 
07       appropriation;                                                                                                    
08                 (10)  of money held in trust by the State for a particular purpose;                                     
09                 (11)  of money received by the State from a source other than the State                                 
10 or federal government that is restricted to a specific use by the terms of a gift, grant,                               
11       bequest, or contract;                                                                                             
12 (12)  of revenue of a public enterprise or public corporation that issues                                               
13       revenue bonds;                                                                                                    
14 (13)  of money deposited into the budget reserve fund under Section                                                     
15       17(d) of this article back to the funds and accounts from which the money came;                                   
16 (14)  of money to a State savings account or fund that requires a                                                       
17       subsequent appropriation from that account or fund as prescribed by law; and                                      
18                 (15)  of dedicated funds.                                                                               
19 (b)  The governor shall cause any unexpended and unappropriated balance in                                              
20       the general fund to be invested so as to yield competitive market rates to the treasury.                        
21    * Sec. 2. Article XV, Constitution of the State of Alaska, is amended by adding a new                              
22 section to read:                                                                                                        
23 Section 30. Application of Appropriation Limit. The 2018 amendment                                                    
24 limiting appropriation increases (art. IX, sec. 16) applies to appropriations made for                                  
25       the fiscal year ending June 30, 2020, and thereafter.                                                             
26    * Sec. 3. The amendments proposed by this resolution shall be placed before the voters of                          
27 the state at the next general election in conformity with art. XIII, sec. 1, Constitution of the                        
28 State of Alaska, and the election laws of the state.