SCS CSHJR 42(TRA): Proposing amendments to the Constitution of the State of Alaska creating a transportation infrastructure fund.

00 SENATE CS FOR CS FOR HOUSE JOINT RESOLUTION NO. 42(TRA) 01 Proposing amendments to the Constitution of the State of Alaska creating a 02 transportation infrastructure fund. 03 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. Article IX, sec. 7, Constitution of the State of Alaska, is amended to read: 05 Section 7. Dedicated Funds. The proceeds of any state tax or license shall not 06 be dedicated to any special purpose, except as provided in Sections 15 and 18 07 [SECTION 15] of this article or when required by the federal government for state 08 participation in federal programs. This provision shall not prohibit the continuance of 09 any dedication for special purposes existing on April 24, 1956 [UPON THE DATE 10 OF RATIFICATION OF THIS SECTION BY THE PEOPLE OF ALASKA]. 11 * Sec. 2. Article IX, Constitution of the State of Alaska, is amended by adding a new 12 section to read: 13 Section 18. Transportation Infrastructure Fund. (a) The revenue received 14 after July 1, 2011, from any state tax on fuel used for the propulsion of motor vehicles, 15 aircraft, and watercraft, less those refunds, credits, and collection costs that are 16 provided by law, and from a registration fee levied for a motor vehicle, not including

01 special registration fees as provided by law, shall be placed in a transportation 02 infrastructure fund. The legislature may appropriate additional amounts to the fund. 03 The fund shall be managed as an endowment. Each year, the legislature may 04 appropriate a percentage of the state fuel taxes and registration fees received by the 05 fund in that year and a percentage of the average market value of the fund as 06 established by law for capital projects for transportation and related facilities that are 07 designated by law and for costs related to motor vehicle licensing and registration that 08 are designated by law. 09 (b) The legislature shall provide by law for the management and investment of 10 the fund balance. The income earned from the fund shall be deposited into the fund. 11 * Sec. 3. The amendments proposed by this resolution shall be placed before the voters of 12 the state at the next general election in conformity with art. XIII, sec. 1, Constitution of the 13 State of Alaska, and the election laws of the state.