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