SB 20 Summary

• Appropriates $6,759,515,600 from general fund and other sources for Alaska state government operating expenses and loan program costs for the fiscal year ending June 30, 2020.

• Allocates funding across executive branch departments (Health and Social Services, Education, Transportation, etc.), the University of Alaska, judiciary, and legislature with specific amounts for personnel, operations, and programs.

• Authorizes supplemental appropriations including $172.4 million from the budget reserve fund for Medicaid services and funding for retirement system contributions totaling over $308 million.

• Establishes fund capitalizations including $396.5 million to the Alaska Permanent Fund principal and $800 million for Alaska Housing Finance Corporation loan programs.

• Takes effect July 1, 2019, with select provisions effective June 30, 2019, and includes retroactive provisions for fiscal year 2019 program receipts and account balances.