AK SJR12

Proposes constitutional amendment limiting annual Alaska Permanent Fund appropriations to 4.5% of the average market value of the fund on June 30 for the three preceding fiscal years.

Removes language requiring all permanent fund income to be deposited in the general fund, allowing retained earnings to remain in the fund.

Designates the amendment as the Alaska Operating Endowment Amendment.

Transfers the unencumbered and unappropriated balance of the earnings reserve account to the Alaska permanent fund upon effective date of the amendment.

Requires voter approval through the next general election in conformity with Alaska's constitutional amendment procedures.