Bill > SB20

This bill amends the existing law on appropriation limits in Alaska. It changes the formula for calculating the appropriation limit to be based on 12% of the average of the state's real gross domestic product for the previous five years. Certain types of appropriations, such as those for the Alaska Permanent Fund, bond proceeds, and disaster relief, are excluded from the limit calculation. The bill also requires the governor to submit a report calculating the appropriations in the budget against the new limit. The bill is contingent on amending the state constitution to reflect these changes, and it takes effect on July 1, 2024.