AK HJR3

Creates a new gas revenue endowment fund as a separate fund in the State treasury to receive all mineral royalty proceeds and tax proceeds from natural gas produced on the North Slope.

Requires that money in the fund be used only for income-producing investments specifically designated by law, with appropriations from the fund limited to five percent of the average market value of the fund over a set number of consecutive fiscal years.

Permits appropriations from the fund for any public purpose except dividends or other payments to residents not based on financial need.

Amends Article IX, Section 7 of the Alaska Constitution to allow the gas revenue endowment fund as an exception to the prohibition on dedicated taxes and licenses.

Proposes these constitutional amendments be submitted to Alaska voters at the next general election in accordance with state election laws.