Tentative deal reached on Alaska oil-wealth fund draws

JUNEAU, Alaska (AP) – Alaska House and Senate negotiators have reached tentative agreement on a major piece of a state fiscal plan.

A conference committee advanced legislation Tuesday calling for limited draws from Alaska Permanent Fund earnings. The money would help pay for state government and pay the annual checks residents receive from the oil-wealth fund.

The bill does not specify how the money would be divided among the two.

The bill keeps in place the existing dividend calculation, but that’s no guarantee a full dividend will be paid in the future.

The calculation has been ignored the past two years, and lawmakers this year propose a $1,600 dividend, about $1,000 less than if the calculation were followed.

The permanent fund bill is one of the last unresolved issues in the extended legislative session.

The post Tentative deal reached on Alaska oil-wealth fund draws appeared first on Newstalk 750 – 103.7 KFQD.