AK HB4006

Amends the state appropriation limit in AS 37.05.540(b) to cap treasury appropriations at 11.5 percent of the average real gross domestic product for the five preceding fiscal years, excluding government spending expenditures.

Removes the previous method of calculating the appropriation limit based on increases of 5 percent plus population and inflation changes.

Deletes the exemption 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 how appropriations in the budget comply with the appropriation limit under AS 37.05.540, with updates for supplemental bills and budget amendments.

Makes this Act contingent on voter approval of a constitutional amendment to Article IX, Section 16 of the Alaska Constitution, with an effective date of July 1, 2023.