AK SB196

Establishes an unrestricted general fund appropriation limit of $4,100,000,000 for each fiscal year, adjusted by cumulative inflation changes since July 1, 2018, based on the Consumer Price Index for Anchorage.

Exempts appropriations to the Alaska Permanent Fund, permanent fund dividends, debt obligations, capital projects, and state disaster declarations from the appropriation limit.

Requires the governor to submit a report with the budget calculation showing how appropriations comply with the new limit, updated when supplemental bills and budget amendments are submitted.

Applies the appropriation limit to appropriations taking effect in the fiscal year ending June 30, 2020, with a transition provision setting a flat $4,100,000,000 cap for that fiscal year.

Directs the legislature to reevaluate the appropriation limit three years after the effective date of the Act.