Alaska Legislature OKs deal on oil-wealth fund withdrawals
May 10, 2018
JUNEAU, Alaska (AP) — The Alaska Legislature on Tuesday approved a key piece of a plan to address the state’s persistent budget deficit — and one of the last unresolved pieces of the extended legislative session.
The bill, which advanced from a conference committee earlier in the day, calls for limited withdrawals from Alaska Permanent Fund earnings. Money taken out would help pay for state government costs and be used to pay the annual checks residents receive from the oil-wealth fund.
The bill does not say how the money would be divided among the two needs in future years.