Post by Logan on Jun 8, 2016 1:21:43 GMT -6
Senate OKs Permanent Fund bill, saying Alaska needs to reduce dividends to save them
JUNEAU – The Alaska Senate late Monday passed legislation converting the Permanent Fund into an endowment and setting dividends at $1,000, a move designed to help reduce the state's $4 billion budget gap.
The 14-5 vote, which supporters described as a necessary step to head off a financial collapse, came quickly after months of discussion and debate about Senate Bill 128. The vote came about 8:30 p.m. on the same day the bill emerged from the Senate Finance Committee.
The legislation still must pass a more skeptical House before it could head to Gov. Bill Walker for his signature. And a House vote is unlikely to come before next week, with lawmakers taking a five-day break from Juneau starting Wednesday, with most of the city's hotel rooms booked for a festival of Alaska Native culture.
Senators who voted yes Monday were Lyman Hoffman, D-Bethel; Pete Kelly, R-Fairbanks; Anna MacKinnon, R-Eagle River; Lesil McGuire, R-Anchorage; Peter Micciche, R-Soldotna; Donny Olson, D-Golovin; Bert Stedman, R-Sitka; Gary Stevens, R-Kodiak; Click Bishop, R-Fairbanks; John Coghill, R-North Pole; Mia Costello, R-Anchorage; Dennis Egan, D-Juneau; Cathy Giessel, R-Anchorage; and Kevin Meyer, R-Anchorage.
Read more: www.adn.com/politics/2016/06/07/senate-oks-permanent-fund-bill-saying-alaska-needs-to-reduce-dividends-to-save-them/
JUNEAU – The Alaska Senate late Monday passed legislation converting the Permanent Fund into an endowment and setting dividends at $1,000, a move designed to help reduce the state's $4 billion budget gap.
The 14-5 vote, which supporters described as a necessary step to head off a financial collapse, came quickly after months of discussion and debate about Senate Bill 128. The vote came about 8:30 p.m. on the same day the bill emerged from the Senate Finance Committee.
The legislation still must pass a more skeptical House before it could head to Gov. Bill Walker for his signature. And a House vote is unlikely to come before next week, with lawmakers taking a five-day break from Juneau starting Wednesday, with most of the city's hotel rooms booked for a festival of Alaska Native culture.
Senators who voted yes Monday were Lyman Hoffman, D-Bethel; Pete Kelly, R-Fairbanks; Anna MacKinnon, R-Eagle River; Lesil McGuire, R-Anchorage; Peter Micciche, R-Soldotna; Donny Olson, D-Golovin; Bert Stedman, R-Sitka; Gary Stevens, R-Kodiak; Click Bishop, R-Fairbanks; John Coghill, R-North Pole; Mia Costello, R-Anchorage; Dennis Egan, D-Juneau; Cathy Giessel, R-Anchorage; and Kevin Meyer, R-Anchorage.
Read more: www.adn.com/politics/2016/06/07/senate-oks-permanent-fund-bill-saying-alaska-needs-to-reduce-dividends-to-save-them/