AK SJR6

Repeals and readopts Article IX, Section 16 to establish an appropriation limit that annual appropriations may not exceed the average of prior three fiscal years' appropriations plus average inflation change over five years, based on Anchorage Consumer Price Index.

Exempts from the appropriation limit: Alaska Permanent Fund appropriations and dividends, disaster declarations, bond obligations, reappropriations, non-State source funds, and State savings accounts requiring subsequent appropriation.

Allows legislature to exceed the appropriation limit by up to 10 percent for capital improvements in a single fiscal year, with such excess appropriations excluded from future limit calculations.

Directs unexpended general fund balances at fiscal year-end to deposit into: (1) Permanent Fund up to 50 percent of prior year fund income, (2) Budget Reserve Fund to equal next year's appropriation limit, and (3) any remainder to Permanent Fund.

Amends Article IX, Section 17 to modify Budget Reserve Fund appropriation authority and applies all amendments to appropriations made for fiscal year ending June 30, 2022, and thereafter; places proposed amendments before voters at next general election.