Senate Rules: Explaining the $1,600 dividend proposal

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Senate Bill 1002, Permanent Fund dividend payout legislation, was the subject of thoughtful discussion in Senate Rules Committee today, before being sent to the Senate Floor for consideration on Tuesday’s calendar.

Sen. Bert Stedman of Sitka drew the short straw to explain how that number was reached, where the funds would come from, and the rationale behind it.

Last year’s dividend was $1,600, he explained. Lawmakers just didn’t want to go lower than last year. “There is no magic to the $1,600,” he said, other than the sense that the previous amount under discussion — $1,200 — was too low.

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