Senate Passes Fiscal Plan That Taps Permanent Fund

SB26 Keeps PFD at $1,000, limits state spending, takes money for budget out of Permanent Fund earnings

 

The LegHead Report for Monday March 21, 2017

 

The Alaska Senate on last week (March 15) passed what it says is a major component of the solution to solving Alaska’s funding woes.

The measure, Senate Bill 26, draws from the Permanent Fund to pay state bills and would continue Permanent Fund Dividend checks at the amount of $1,000.

There’s a cap on state spending, and there’s a limit of the amount that can be drawn from the Permanent Fund.

Senate President Pete Kelly explained the funding plan in a video posted on the Senate Majority’s website… [Listen to mp3 above for more details.]

 

Related Links and More Information:

Press release from Senate Majority on passage of SB26

https://www.alaskasenate.org/2016/press/news/office-major-components-of-fiscal-solution

Summary of what SB26 does

https://www.alaskasenate.org/2016/files/8614/8962/0830/Senate_Fiscal_Solution_Fact_Sheet.pdf

More budget information from Senate Majority’s website

https://www.alaskasenate.org/2016/priorities/budget-responsibly/