AK HJR24

Proposes constitutional amendments to establish a new appropriation limit based on average state revenue from the previous three fiscal years, adjusted for inflation and population changes, with limited exceptions for disasters and defense.

Modifies the Alaska Permanent Fund structure to retain principal and all income in the fund, with 21 percent of average annual net income (five-year calculation) available for distribution each fiscal year.

Requires that 50 percent of available permanent fund distributions be automatically transferred to a dividend fund for payments to eligible Alaska residents, while allowing the legislature to appropriate up to 50 percent of available distributions for state operations.

Retains inflation protection amounts in the permanent fund and removes restrictions on dividend appropriations from the spending limit calculation.

Places proposed amendments before voters at the next general election, with transition provisions applying new rules to fiscal year 2024 and thereafter.