HB 311: "An Act requiring the governor's fiscal plan to include certain information."
00 HOUSE BILL NO. 311 01 "An Act requiring the governor's fiscal plan to include certain information." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 37.07.020(b) is amended to read: 04 (b) In addition to the budget and bills submitted under (a) of this section, the 05 governor shall submit a capital improvements program covering the succeeding six 06 fiscal years. The governor shall also submit a fiscal plan with estimates of significant 07 sources and uses of funds for the succeeding 10 fiscal years. The fiscal plan 08 (1) must include sufficient details to identify 09 (A) significant sources of funds; 10 (B) significant uses of funds, including lump sum projections 11 of 12 (i) operating expenditures; 13 (ii) capital expenditures; 14 (iii) debt service expenditures; 15 (iv) fund capitalizations;
01 (v) appropriations of income of the Alaska permanent 02 fund (art. IX, sec. 15, Constitution of the State of Alaska), if any; 03 (2) must balance sources and uses of funds held while providing for 04 essential state services and protecting the economic stability of the state; 05 (3) must include projected balances of significant funds held in 06 separate accounts, including the budget reserve fund (art. IX, sec. 17, Constitution of 07 the State of Alaska), the public education fund (AS 14.17.300), and the Alaska capital 08 income fund (AS 37.05.565); 09 (4) must set out significant assumptions used in the projections with 10 sufficient detail to enable the legislature to rely on the fiscal plan in understanding, 11 evaluating, and resolving issues of state budgeting, including information that supports 12 major areas of operating increases, such as population demographics that affect the 13 need for particular government services; 14 (5) must set out, for informational purposes, the projected amount 15 available for spending for the succeeding 10 fiscal years; the projected amount 16 available for spending may not include money from the following sources: 17 (A) the projected principal of the Alaska permanent fund 18 (art. IX, sec. 15, Constitution of the State of Alaska); 19 (B) the projected principal of the constitutional budget 20 reserve fund (art. IX, sec. 17, Constitution of the State of Alaska); 21 (C) the projected principal of the statutory budget reserve 22 fund (AS 37.05.540); or 23 (D) the net present value of the state's projected oil 24 reserves.