AK SJR3

Amends Article IX, Section 16 of the Alaska Constitution to revise the appropriation limit methodology by replacing a fixed dollar amount with a percentage of average personal income calculated over five fiscal years, with a maximum of 14.5 percent or a lower percentage established by law.

Excludes compensation for state and local government employees and permanent fund dividend distributions from personal income calculations used to determine the appropriation limit.

Allows the legislature to appropriate additional amounts for capital improvements with a two-thirds vote of each house, provided total appropriations do not exceed 14.5 percent of the calculated average personal income.

Changes "corporate revenues" to "corporate receipts" for public enterprise and public corporation funds that issue revenue bonds.

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