AK HB400

Subjects the Alaska Railroad Corporation to the Executive Budget Act (AS 37.07) and requires all operating, capital, and debt service expenditures to be made through legislative appropriation.

Adds the Alaska Railroad Corporation to the definition of "agency" under state budget law, making it subject to the same budgetary requirements as other state agencies.

Removes the Alaska Railroad Corporation from an exception in law regarding separately accounting for fees, requiring it to follow standard accounting procedures for other public agencies.

Mandates the corporation annually review its assets by January 10 to determine excess amounts available without breaching agreements, impairing operations, or affecting its statutory purposes, with results audited by an independent auditor.

Takes effect immediately, with the corporation required to prepare its first budget plan under the Executive Budget Act for the next regular legislative session following the effective date.