Bill to draw from Permanent Fund released

posted by Michael Ortega -

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JUNEAU (AP) — Alaska House and Senate negotiators on Wednesday unveiled a proposal that would limit draws from Alaska Permanent Fund earnings. But it would leave the fight over the size of future dividends paid to residents from the oil-wealth fund to future legislatures.

Lawmakers plan to use fund earnings for the first time to help fill a persistent state budget deficit. The annual dividends paid to residents also come from fund earnings, making the issue politically tricky to navigate — particularly in an election year.

The conference committee draft would limit what can be drawn annually from fund earnings to pay for government and dividends, based on a percentage of the fund's average market value over five years.

Bill to draw from Permanent Fund released

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