The Alaska House has wrapped up budget amendment debates ahead of a final vote on Saturday.
to pay a $4,200 dividend following the 1982 statutory formula were narrowly rejected by the House. Advocates of a full PFD argued high inflation and high fuel prices justify the larger dividend while critics say it is unsustainable.paying a 50-50 dividend this year at just over $2,500 plus another $1,200 to pay the remainder of the 50-50 dividend from last year. He has said the state can afford that while putting billions into savings with a windfall of revenue from high oil prices.
The bill contains a $57 million increase to the school funding formula. If it survives in the Senate, there would be a rise of $223 to the base student allocation after five years of flat funding. There is $359 million toThe House is set to approve paying $472 million as the remainder of oil and gas tax credits owed to producers from a now-defunct program that aimed to increase production.
Just over $1 billion would be transferred to the constitutionally protected part of the Permanent Fund as inflation proofing. Critics suggested that means less revenue would be available in the future to pay out dividends. The budget also aims to rebuild state savings accounts to around $2.2 billion after being depleted by a decade of deficit spending.despite Alaska Supreme Court rulings that doing that is unconstitutional.
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