AK SJR2

Repeals and readopts Article IX, Section 16 of the Alaska Constitution to establish an appropriation limit of $4.3 billion that can increase by up to 50 percent of cumulative population and inflation changes since July 1, 2020, using federal indices.

Exempts 15 categories of appropriations from the limit, including Alaska Permanent Fund transfers, permanent fund dividends, disaster relief, bond proceeds and obligations, federal funds, reappropriations, and dedicated funds.

Requires the governor to invest unexpended and unappropriated general fund balances to yield competitive market rates for the state treasury.

Adds Article XV, Section 30 to specify the appropriation limit applies to fiscal years ending June 30, 2020, and thereafter.

Directs the proposed constitutional amendments to be placed before voters at the next general election in accordance with state law.