SB 104 Summary

• Establishes an appropriation limit of $5,000,000,000 for unrestricted general fund appropriations, with allowance for growth up to the average inflation rate from the previous five fiscal years based on the Anchorage Consumer Price Index.

• Exempts appropriations to the Alaska Permanent Fund principal, debt obligations, disaster relief declared by the governor, and money to state savings accounts requiring subsequent appropriation from the limit.

• Requires the governor to submit a report calculating how appropriations in the budget comply with the new appropriation limit, with updates upon submission of supplemental bills and budget amendments.

• Sets transitional provisions for fiscal year ending June 30, 2021, capping unrestricted general fund appropriations at $5,000,000,000 without inflation adjustment.

• Takes effect July 1, 2019, with the new appropriation limit provisions applying to appropriations effective in fiscal year ending June 30, 2021.