At 2:30 p.m. today (Aug. 24) the Alaska Legislature will hold a public hearing on Gov. Mike Dunleavy’s proposed budget bill (HB 3003) that would, among other things, provide for a one-time $2,350 Permanent Fund Dividend (PFD) in 2021 and fully fund Alaska’s student scholarship programs.
The bill was offered by the governor as a temporary bridge to provide for a PFD this year while the Legislature works toward a long-term solution. Ultimately, Dunleavy wants lawmakers to let Alaskans vote to constitutionally enshrine the PFD so that it does not become an annual political debate.
Earlier this year, Dunleavy vetoed a $525 dividend that the Legislature approved, which means there is currently no dividend payment slated for 2021. If the Legislature had followed Alaska law, the statutory dividend would be roughly $3,700 this year.
For 34 years, the amount of each payment was based upon a five-year average of the Permanent Fund’s performance. In 2016, then Gov. Bill Walker abandoned the longstanding statutory PFD, and the Legislature has since engaged in an annual debate about how much to allot for PFD payments. Last year’s dividend was just $992 – the eighth smallest in 39 years.
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The Legislature has convened its third special session of the year, and Dunleavy wants lawmakers to address the state’s long term financial outlook, including how to solve structural budget deficits, options to protect the Permanent Fund and annual dividend payments, and potential new revenues and spending reductions. His main priority, however, is to address the PFD payments to Alaskans and to install a constitutional spending limit for government.
The bill under consideration on Aug. 24 (HB 3003) includes using $3 billion from the now $82.4 billion Permanent Fund Reserve to help bridge funding gaps while also paying out a dividend to all eligible Alaskans.
Here’s what the bill includes:
- $1.53 billion for the payment of the 2021 PFD, providing an estimated $2,350 per eligible Alaskan
- $11.7 million to Alaska Performance Scholarship Awards
- $6.4 million to Alaska Education Grants
- $3.3 million to WWAMI Medical Education
- $1.47 billion one-time transfer from the earnings reserve account to the constitutional budget reserve
TAKING ACTION
- Public testimony will be taken during the Aug. 24 meeting, which begins at 2:30 p.m. Testimony will be limited to two minutes per person.
- The public can testify by signing in at their local Legislative Information Office (click here for locations and phone numbers).
- Click here to read HB 3003.
- Click here to watch the hearing live.
- Written testimony can be emailed to housefinance@akleg.gov.
14 Comments
I thought that we had a Long term solution until a liberal democratic governor decided to just take it and spend it. I just wonder how much ended up in their back pockets?
Most. Cue DC thugs with their foundations and lifetime appointments to political office.
Absolutely, it’s all a huge conspiracy by the other guys…the people you associate with would never steal…and also they stole the election…there’s proof…I’m not going to tell you what it is because I would look stupid for saying it out loud, but it’s true.
The fine print in SB 76 gave Dunleavy the right to change how the PFD was calculated you can thank almost every legislator for that except one who was being grilled by the rest for not going along to get along at the Gov’s whim!!! The corruption in this state is overwhelming when you look at the BS your politicians commit.
Just “sent in my email to the Legislature”), but was reminded by the Name Walker… who broke the laws of our State when Governor in 216, causing major headaches as we see today. I for one am sick and darned tired of the word Law ! Why bother with that word when over the last few years people who swear to uphold LAW when seeking your money, trust and vote almost immediately develop amnesia before the ink dries on their Sworn oaths (*fingers crossed is suppose*) , We the Folks must, must find a simple way to oust these scoff laws. Imagine where you or I would be if we just decided which laws and regs. to obey and which to thumb our nose at? We’d be , at least bankrupt, or worst in prison. We Alaskans must fix this mess.. I think Legislature members are way to close to Seattle, in miles and Ideology too. Grandma
Again…it’s the liberals stealing what god gave us white folk. Anything I don’t like must be illegal and a huge conspiracy!!!
What does race have to do with it? Every color in Alaska is being denied what is by law to be distributed.
Hey, Walker is planning on running again, or.. he’s planning on tossing it to the other democrat with Rank Choice Voting.
This is like waiting for your lottery numbers to come up! All kidding aside lets hope they do right.
It’s the law to pay a full PFD
It’s the law to throw these people in jail for breaking the law
You mean the tele-conference that CLOSED at 4:30pm…? Sounds like some employees (yes, you legislators are employees) are working banker hours while the rest of us get off at 4-5-6 from real work. Since you layabouts come in late and leave early, maybe you need a pay cut for non-performance?
The fact is this, still stealing from all residents if we don’t get full amount of dividends. This plan doesn’t take as much from us this year but seems like an open invitation to take what ever they ” need” when they want to in future. Another issue, even if this helps Alaska’s financial debt this year, they couldn’t stay within budget before what make you think it won’t happen again. The problem is not going to be fixed. Theft is Theft whether it’s 1cent or full amount.
I don’t know why the legislatures are worried about braking a law. Hammonds system worked and I had thought it was LAW. How the State Supreme Court sided against the Law still bewilders me. Ever since that happened the Permanent fund has been a political football costing citizens funds in special sessions trying to decide how to manage our rightful dividend. Under Hammonds structure this was cut and dried. I for one am in favor of the Governor’s 50/50 split. I don’t know it’s the best solution but something needs to be set in stone. We can not continue this free for all over the Permanent Fund!
My father, Karl Hein, was killed at work April 23,1970 on the North Slope working for Frontier, Rock and Sand . He was a grader operator, in the process of building the pad for the pipeline.
This was a result of very poor equipment repair. A track record the state new about of this company.
This was the second time my father sacrificed for Alaska, as he had served here in World War 2.
My Mother was left a widow at 35, with 6 children to raise from the age of 4 to 12. We were extremely poor, and no one cared. No one helped her.
My Mother, Rozetta Hein, 86 years old in Kenai Alaska NEEDS a full PFD..She is still very poor