AK HJR5

Establishes that oil and gas production tax revenue received between June 30, 2010 and January 1, 2019 at rates above the base rate shall be deposited into the budget reserve fund, excluding money designated for the Permanent Fund.

Allows the Legislature to appropriate money to the budget reserve fund at any time, with appropriated funds treated the same as deposited funds.

Requires an annual transfer of 5 percent of the average fiscal year-end market values of the budget reserve fund for the preceding five of six fiscal years to the general fund on July 1 each year.

Restricts withdrawals from the budget reserve fund to transfers authorized under the amended constitutional provision.

Proposes these constitutional amendments be submitted to Alaska voters at the next general election.