An Act relating to an appropriation limit; relating to the budget responsibilities of the governor; and providing for an effective date.

HB 51 establishes a new state spending limit requiring annual appropriations to not exceed 12% of Alaska's average real gross domestic product (GDP) over the previous five years, adjusted for population growth and inflation. This directly affects the governor's budget process, as it mandates that all state spending (excluding certain bond proceeds, disaster funds, and specific trust accounts) must comply with this GDP-based cap. The bill also requires the governor to submit annual reports calculating how budget appropriations align with this limit and to update these reports with supplemental budget requests. The law is conditional on a future constitutional amendment that would exclude certain spending types (like bond proceeds) from the calculation, and it takes effect July 1, 2025.