PFD bill gets committee hearing, Ortiz files mining resolution
February 9, 2017
Entering its third full week of the session, Alaska’s Legislature continues to look at a variety of spending cuts and revenue options.
On February 2, the Senate Finance Committee heard SB 21, a proposal of Sen. Bert Stedman to restructure how Permanent Fund earnings are appropriated. Currently the $56B in the fund are constitutionally protected, but the bill proposes further limiting the amount of money that can be withdrawn from the principal to 4.5 percent of market value, based on a rolling five-year average.
That rate falls within the five-percent range the Alaska Permanent Fund Corpo...