State lawmakers are running out of time this session to pass legislation aimed at resolving the annual debate over what size dividend should be paid to residents from the Alaska Permanent Fund.
Legislative leaders have said they see resolving the divisive debate as critical. But lawmakers have yet to agree on what a new formula should look like or on what other elements should accompany it, such as taxes. A dividend bill in the Senate was bumped from the floor for further work Wednesday when it lacked the votes to pass, Senate President Peter Micciche said.
Less than two weeks remain in the session that began in January. All but one of the Legislature’s 60 seats are up for election this year. Republican Gov. Mike Dunleavy is seeking reelection. Lawmakers have been setting the amounts, which ranged from a low of $992 to a high of $1,606 between the years of 2017 and 2021.
But without tying the dividend to the Constitution, “you’re really not doing anything. You just aren’t,” said Senate Majority Leader Shelley Hughes, a Palmer Republican who was part of the working group. The working group composed of members from along the political spectrum recommended lawmakers “work towards” a formula that dedicates half the draw to dividends as part of a broader plan.
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