This bill amends existing laws regarding the appropriation limit in Alaska, specifically addressing the budget responsibilities of the governor. It introduces new provisions that allow for certain appropriations to be excluded from the appropriation limit calculation, including general obligation bond proceeds, appropriations required to pay the principal and interest on revenue bonds, appropriations to a state account or fund that requires subsequent appropriation, and appropriations to meet a state of disaster declared by the governor. Additionally, the bill establishes that appropriations from the treasury for a fiscal year may not exceed 12 percent of the average value of the real gross domestic product of the state for the five calendar years preceding the previous fiscal year, while also excluding the previous method of calculating limits based on a percentage increase from the preceding fiscal year. Furthermore, the bill mandates that the governor submit a report detailing the appropriations in relation to the new appropriation limit, which must be updated with any supplemental appropriation bills or budget amendments. It also includes a conditional effect clause stating that the act will only take effect if an amendment to the state constitution is enacted to change the appropriation limit as specified. The bill is set to take effect on July 1, 2025.

Statutes affected:
SB0036A, AM SB 36, introduced 01/10/2025: 37.05.540, 37.14.036, 37.14.031, 37.07.020, 37.07.070