AK HB51

Establishes a new state appropriation limit capping annual spending at 12% of the average real gross domestic product of Alaska over the five preceding calendar years, excluding government spending from the GDP calculation

Replaces the prior appropriation limit formula based on the previous fiscal year's spending plus 5% adjusted for population and inflation changes

Expands exemptions from the appropriation limit to include general obligation bond proceeds and debt service, appropriations to accounts requiring subsequent appropriation, and disaster-related spending

Requires the governor to submit a report calculating how proposed budget appropriations apply to the spending limit, with updates when supplemental appropriation bills or budget amendments are submitted

Takes effect July 1, 2025, contingent on passage of a corresponding constitutional amendment to Article IX, Section 16