AK HJR7

Amends Alaska Constitution Article IX, Section 16 to change the appropriation limit mechanism from a fixed $2.5 billion baseline to year-over-year appropriations adjusted by population and inflation changes over the previous three years.

Adds subsection (b) establishing that if unrestricted state revenue is insufficient to cover general fund appropriations, spending cannot exceed the previous fiscal year's appropriations.

Reorganizes exemptions from the appropriation limit into new subsection (c), clarifying that Alaska Permanent Fund dividends, revenue bond proceeds, general obligation bond payments, and non-state trust funds are excluded from the limit.

Removes the former requirement that at least one-third of appropriations be reserved for capital projects and eliminates the voter approval mechanism for exceeding the limit on capital projects.

Requires the proposed amendment be placed before voters at the next general election in accordance with Alaska Constitution Article XIII, Section 1.