AK HJR2

Amends Alaska Constitution Article IX, Section 16 to revise the appropriation limit framework, replacing the previous $2.5 billion baseline with a percentage-based limit tied to the average real gross domestic product of the state over five calendar years.

Sets the appropriation percentage at whichever is less: a percentage established by non-appropriation bill legislation or 13 percent of the average real gross domestic product expressed in current dollars.

Allows the legislature to appropriate additional amounts for capital improvements with a two-thirds vote in each house, provided total appropriations do not exceed 13 percent of the calculated average.

Creates exemptions from the appropriation limit for Alaska Permanent Fund appropriations and dividends, bond proceeds, disaster relief, and money received from non-state sources held in trust.

Applies the amendment to appropriations made for fiscal years ending June 30, 2026, and thereafter, with voter approval required at the next general election.