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AK HB92
Bill
Status
Introduced
1/30/2017
Primary Sponsor
Cathy Tilton
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AI Summary
- Removes the ability to appropriate excess revenues above the appropriation limit to the budget reserve fund
- Changes the appropriation limit formula from "five percent plus" population and inflation growth to only the "average cumulative change" in population and inflation over the previous three years
- Establishes a new limit requiring that when unrestricted state revenue is insufficient to cover general fund appropriations, appropriations cannot exceed the previous fiscal year's level
- Exempts Alaska Permanent Fund dividends, revenue bond proceeds, general obligation bond payments, Mental Health Trust appropriations, and non-state trust revenues from the appropriation limits
- Allows appropriations exceeding limits only to meet a governor-declared state of disaster and requires unexpended general fund balances to be invested at competitive market rates
Legislative Description
Appropriation Limits
Public Finance
Last Action
COSPONSOR(S): SADDLER
2/22/2017
Committee Referrals
Judiciary1/30/2017
Full Bill Text
No bill text available