Members of the Alaska Legislature say they’re far apart on a long-term structure to stabilize state finances.
Speaker of the House Cathy Tilton, R-Wasilla, and Senate President Gary Stevens, R-Kodiak, talk before a joint session of the Alaska Legislature on Tuesday, Feb. 7, 2023, at the Alaska State Capitol in Juneau.
“At this point, the legislature has not shown meaningful interest in coming together to work on fiscal issues. Accordingly, the governor is not going to call them into special session and waste time and money,” he wrote in an email. “We’ve realized that we don’t have the numbers to come to a consensus on a full plan with lots of components. Maybe we’ll try to focus on something that takes care of the issue like HJR 7,” she said.
They’ve been unable to decide on a replacement, and the Legislature has set the dividend by fiat for seven consecutive years. This year’s payout, expected in October, will be about $1,300 per recipient. Before 2018, the sole primary spending from the Alaska Permanent Fund was to pay the annual cash dividend to residents.The annual transfer from the Permanent Fund to the state treasury — $3.5 billion this year — is the biggest general-purpose source of revenue for the state, larger than oil revenue.
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