An Act relating to an appropriation limit; and providing for an effective date.

This bill limits annual state spending increases to 5% plus changes in population and inflation, excluding specific funds like the permanent fund, mental health trust accounts, and certain bond proceeds. It applies to most state budget items, requiring spending to stay within the previous year's level adjusted for population growth (based on Labor Department estimates) and inflation (using Anchorage CPI data). The limit includes carryover funds from the prior fiscal year. The bill takes effect July 1, 2027.