AK SB36

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

Expands exemptions from the appropriation limit to include: general obligation bond proceeds, revenue bond principal and interest payments, appropriations to accounts requiring subsequent appropriation, and disaster relief appropriations

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

Repeals the existing appropriation limit formula based on prior year spending plus 5 percent adjusted for population and inflation changes

Takes effect July 1, 2025, contingent on voter approval of a corresponding constitutional amendment to Article IX, Section 16 of the Alaska Constitution