AK HJR8

Limits annual appropriations from mineral revenue sources (lease rentals, royalties, royalty sale proceeds, federal mineral revenue sharing, and state mineral taxes) to the average of amounts received over the preceding five fiscal years divided by five.

Establishes a separate balanced budget account outside the general fund to hold any unappropriated mineral revenue at the end of each fiscal year.

Requires money in the balanced budget account to be invested at competitive market rates with income retained in the account, and prohibits direct appropriations from the account.

Transfers excess funds from the balanced budget account to the budget reserve fund when account balance exceeds the total appropriations for the current and immediately preceding fiscal years.

Applies the amendment to appropriations and deposits made for fiscal year 2012 and thereafter, with amendments to be placed before voters at the next general election.