Alaska governor wants limit on oil-wealth fund draws in law

JUNEAU, Alaska (AP) – Gov. Bill Walker favors a law to set the limit of how much lawmakers can pull from the earnings of Alaska’s oil-wealth fund to pay for state government and yearly checks to residents.

Walker told reporters Tuesday that a lack of such a structure could be risky for the fund’s sustainability.

The House proposed using oil-wealth fund earnings as part of the budget it passed Monday. That meant limiting the size of the dividend payout to Alaskans from an estimated $2,650 to $1,600.

House leaders were noncommittal about Walker’s proposal. They still believe there has to be other measures taken as part of a fiscal plan for the state, including reinstituting an income tax and changing oil taxes.

However, the Senate has been lukewarm to those proposals.

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