AK HB131

Creates a new appropriation limit of $5,000,000,000 for unrestricted general fund appropriations, with allowable increases based on average inflation changes in the previous five fiscal years as measured by the Consumer Price Index for Anchorage.

Exempts appropriations from the limit if they are for Alaska Permanent Fund principal, debt obligations, state disaster declarations, or money to savings accounts requiring subsequent appropriation.

Removes provisions allowing excess revenues subject to the appropriation limit to be transferred to the Budget Reserve Fund.

Requires the governor to submit a report calculating budget appropriations against the new appropriation limit, updated with supplemental appropriation bills and budget amendments.

Applies the appropriation limit to fiscal year 2021 and beyond, with a transition provision setting the limit at $5,000,000,000 (without inflation adjustment) for fiscal year 2021.