AK HB258

Amends the appropriation limit in AS 37.05.540(b) to set treasury appropriations at 11.5 percent of the average real gross domestic product of the state for the five preceding fiscal years, expressed in current dollars.

Removes the previous provision allowing appropriation increases based on population changes and inflation adjustments measured by Department of Labor and Workforce Development estimates and Anchorage Consumer Price Index data.

Requires the governor to submit a report calculating appropriations against the appropriation limit with the annual budget, and to update the report when submitting supplemental appropriation bills and budget amendments.

Repeals AS 37.05.540(e) and makes the act contingent on voter approval of a constitutional amendment to Article IX, Section 16 of the Alaska Constitution changing the appropriation limit methodology.

Takes effect July 1, 2023.