SB 49 Summary: Operating Budget Appropriations

• Appropriates $7.385 billion in total operating and capital expenditures for the State of Alaska for fiscal year 2022 (July 1, 2021 - June 30, 2022) from general funds, federal receipts, and designated program funds.

• Funds state government operations across all departments including education ($363.2M), health and social services ($3.22B), corrections ($382.2M), transportation ($661.4M), and higher education ($777.3M).

• Makes appropriations from the Constitutional Budget Reserve Fund to balance the general fund if unrestricted state revenue is insufficient to cover appropriations in fiscal year 2022.

• Includes $3.07 billion appropriated from the Alaska Permanent Fund earnings reserve account to the general fund and allocates $240.3 million for additional retirement system contributions.

• Authorizes salary and benefit adjustments for state employees, implements collective bargaining agreements for multiple unions, and makes appropriations for federal and program receipts received during the fiscal year.