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ARTICLE.IX
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Article IX
Finance and Taxation
Section 1 - Taxing Power.
The power of taxation shall never be surrendered. This power shall not
be suspended or contracted away, except as provided in this article.
Section 2 - Nondiscrimination.
The lands and other property belonging to citizens of the United States
residing without the State shall never be taxed at a higher rate than the
lands and other property belonging to the residents of the State.
Section 3 - Assessment Standards.
Standards for appraisal of all property assessed by the State or its
political subdivisions shall be prescribed by law.
Section 4 - Exemptions.
The real and personal property of the State or its political subdivisions
shall be exempt from taxation under conditions and exceptions which may be
provided by law. All, or any portion of, property used exclusively for
non-profit religious, charitable, cemetery, or educational purposes, as
defined by law, shall be exempt from taxation. Other exemptions of like or
different kind may be granted by general law. All valid existing
exemptions shall be retained until otherwise provided by law.
Section 5 - Interests in Government Property.
Private leaseholds, contracts, or interests in land or property owned or
held by the United States, the State, or its political subdivisions, shall
be taxable to the extent of the interests.
Section 6 - Public Purpose.
No tax shall be levied, or appropriation of public money made, or public
property transferred, nor shall the public credit be used, except for a
public purpose.
Section 7 - Dedicated Funds.
The proceeds of any state tax or license shall not be dedicated to any
special purpose, except as provided in Section 15 of this article or when
required by the federal government for state participation in federal
programs. This provision shall not prohibit the continuance of any
dedication for special purposes existing upon the date of ratification of
this section by the people of Alaska. [Amendment approved November
2, 1976 - Effective February 21, 1977]
Section 8 - State Debt.
No state debt shall be contracted unless authorized by law for capital
improvements or unless authorized by law for housing loans for veterans,
and ratified by a majority of the qualified voters of the State who vote
on the question. The State may, as provided by law and without
ratification, contract debt for the purpose of repelling invasion,
suppressing insurrection, defending the State in war, meeting natural
disasters, or redeeming indebtedness outstanding at the time this
constitution becomes effective. [Amendment approved November 2, 1982 -
Effective December 24, 1982]
Section 9 - Local Debts.
No debt shall be contracted by any political subdivision of the State,
unless authorized for capital improvements by its governing body and
ratified by a majority vote of those qualified to vote and voting on the
question.
Section 10 - Interim Borrowing.
The State and its political subdivisions may borrow money to meet
appropriations for any fiscal year in anticipation of the collection of
the revenues for that year, but all debt so contracted shall be paid
before the end of the next fiscal year.
Section 11 - Exceptions.
The restrictions on contracting debt do not apply to debt incurred through
the issuance of revenue bonds by a public enterprise or public corporation
of the State or a political subdivision, when the only security is the
revenues of the enterprise or corporation. The restrictions do not apply
to indebtedness to be paid from special assessments on the benefited
property, nor do they apply to refunding indebtedness of the State or its
political subdivisions.
Section 12 - Budget.
The governor shall submit to the legislature, at a time fixed by law, a
budget for the next fiscal year setting forth all proposed expenditures
and anticipated income of all departments, offices, and agencies of the
State. The governor, at the same time, shall submit a general
appropriation bill to authorize the proposed expenditures, and a bill
or bills covering recommendations in the budget for new or additional
revenues.
Section 13 - Expenditures.
No money shall be withdrawn from the treasury except in accordance with
appropriations made by law. No obligation for the payment of money shall
be incurred except as authorized by law. Unobligated appropriations
outstanding at the end of the period of time specified by law shall be
void.
Section 14 - Legislative Post-Audit.
The legislature shall appoint an auditor to serve at its pleasure. He
shall be a certified public accountant. The auditor shall conduct
post-audits as prescribed by law and shall report to the legislature and
to the governor.
Section 15 - Alaska Permanent Fund.
At least twenty-five per cent of all mineral lease rentals, royalties,
royalty sale proceeds, federal mineral revenue sharing payments and
bonuses received by the State shall be placed in a permanent fund, the
principal of which shall be used only for those income-producing
investments specifically designated by law as eligible for permanent fund
investments. All income from the permanent fund shall be deposited in the
general fund unless otherwise provided by law. [Amendment approved
November 2, 1976 - Effective February 21, 1977]
Section 16 - Appropriation Limit.
Except for appropriations for Alaska permanent fund dividends,
appropriations of revenue bond proceeds, appropriations required to pay
the principal and interest on general obligation bonds, and appropriations
of money received from a non-State source in trust for a specific purpose,
including revenues of a public enterprise or public corporation of the
State that issues revenue bonds, appropriations from the treasury made
for a fiscal year shall not exceed $2,500,000,000 by more than the
cumulative change, derived from federal indices as prescribed by law, in
population and inflation since July 1, 1981. Within this limit, at least
one-third shall be reserved for capital projects and loan appropriations.
The legislature may exceed this limit in bills for appropriations to the
Alaska permanent Fund and in bills for appropriations for capital
projects, whether of bond proceeds or otherwise, if each bill is approved
by the governor, or passed by affirmative vote of three-fourths of the
membership of the legislature over a veto or item veto, or becomes law
without signature, and is also approved by the voters as prescribed by
law. Each bill for appropriations for capital projects in excess of the
limit shall be confined to capital projects of the same type, and the
voters shall, as provided by law, be informed of the cost of operations
and maintenance of the capital projects. No other appropriation in excess
of this limit may be made except to meet a state of disaster declared by
the governor as prescribed by law. The governor shall cause any unexpended
and unappropriated balance to be invested so as to yield competitive
market rates to the treasury. [Amendment approved November 2, 1982 -
Effective December 24, 1982]
Section 17 - Budget Reserve Fund.
(a) There is established as a separate fund in the State treasury the
budget reserve fund. Except for money deposited into the permanent fund
under Section 15 of this article, all money received by the state after
July 1, l990 as a result of the termination, through settlement or
otherwise, of an administrative proceeding or of litigation in a State or
federal court involving mineral lease bonuses, rentals, royalties, royalty
sale proceeds, federal mineral revenue sharing payments of bonuses, or
involving taxes imposed on mineral income, production, or property, shall
be deposited in the budget reserve fund. Money in the budget reserve fund
shall be invested so as to yield competitive market rates to the fund.
Income of the fund shall be retained in the fund. Section 7 of this
article does not apply to deposits made to the fund under this subsection.
Money may be appropriated from the fund only as authorized under (b) or
(c) of this section.
(b) If the amount available for appropriation for a fiscal year is less
than the amount appropriate for the previous fiscal year, an appropriation
may be made from the budget reserve fund. However, the amount appropriated
from the fund under this subsection may not exceed the amount necessary,
when added to other funds available for appropriation, to provide for
total appropriations equal to the amount of appropriations made in the
previous calendar year for the previous fiscal year.
(c) An appropriation from the budget reserve fund may be made for any
public purpose upon affirmative vote of three-fourths of the members of
each house of the legislature.
(d) If an appropriation is made from the budget reserve fund, until the
amount appropriated is repaid, the amount of money in the general fund
available for appropriation at the end of each succeeding fiscal year
shall be deposited in the budget reserve fund. The legislature shall
implement this subsection by law. [Amendment approved November 6, 1990 -
Effective January 2, 1991]