AK HB3001

Amends AS 37.05.540(b) to change the appropriation limit calculation from a formula based on prior year appropriations plus population and inflation changes to 11.5 percent of the average real gross domestic product of the state for the five preceding fiscal years, excluding government spending expenditures.

Removes the exception for revenue of public enterprises or public corporations that issue revenue bonds from the appropriation limit calculation.

Requires the governor to submit a report calculating appropriations against the appropriation limit under AS 37.05.540 with the annual budget submission and to update the report with supplemental 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.