AK HB369

Establishes an appropriation limit of $4,100,000,000 for unrestricted general fund appropriations in any fiscal year, adjusted annually by cumulative inflation since January 1, 2018, using the Consumer Price Index for Anchorage.

Exempts from the appropriation limit: Alaska permanent fund appropriations, permanent fund dividend payments, debt obligation payments, capital projects, and expenditures for governor-declared disasters.

Removes the previous provision allowing excess revenues above the appropriation limit to be deposited into the budget reserve fund.

Designates general fund appropriations are subject to the limit only if they replace unrestricted general funds compared to fiscal year 2019 appropriations enacted by July 1, 2018.

Directs the legislature to reevaluate the statutory appropriation limit three years after the act's effective date of July 1, 2018.