AK SJR4

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

Changes the appropriation limit calculation to use federal economic analysis data expressed in current dollars, with the percentage to be established by law or fifteen percent, whichever is less.

Adds language clarifying that appropriations for managing the Alaska permanent fund (separate from dividends), certain state accounts requiring subsequent appropriations, and disaster relief are exempt from the appropriation limit.

Allows the legislature to approve additional capital improvement appropriations up to fifteen percent of the calculated average with a majority vote in each house, superseding previous three-fourths supermajority and voter approval requirements.

Requires voter approval through a general election before the amendment takes effect for appropriations made for the fiscal year ending June 30, 2026, and thereafter.