AK HJR7

Amends Article IX, Section 17 of the Alaska Constitution to dedicate oil and gas production tax revenue exceeding the base rate to the budget reserve fund between June 30, 2013 and January 1, 2022.

Eliminates previous restrictions that allowed appropriations and transfers from the budget reserve fund under subsections (b) and (c), restricting future transfers only to those authorized under new subsection (f).

Establishes an annual July 1 transfer of five percent of the average fiscal year-end market values of the budget reserve fund (calculated from the first five of the preceding six fiscal years) to the general fund.

Allows appropriations to the budget reserve fund at any time, with appropriated money treated the same as deposited money under the new framework.

Requires the proposed amendments to be submitted to Alaska voters at the next general election for approval.