AK HB348

Establishes a minimum veto amount requirement for the governor when appropriating state funds, calculated as the prior fiscal year's appropriations plus 5 percent plus changes in population and inflation.

Population changes are determined using annual estimates from the Department of Labor and Workforce Development; inflation changes are based on the Consumer Price Index for urban Alaska from the Bureau of Labor Statistics.

Excludes federally-required appropriations for state participation in federal programs and appropriations to accounts or funds existing as of the ratification of Alaska Constitution Article IX, Section 7 from the veto amount calculation.

Requires the legislative finance division to calculate the minimum veto amount by the first day of each regular legislative session and report findings to finance committees upon request.

Takes effect only if constitutional amendments are passed by the legislature and adopted by voters before July 1, 2025, amending Article II, Section 15 to require minimum governor vetoes and repealing Article IX, Section 16.