Alaska lawmakers settle on roughly $1,650 Permanent Fund dividend, energy relief amount

Sen. Bert Stedman, R-Sitka, speaks pinch Rep. DeLena Johnson, R-Palmer, up of nan last gathering of nan fund convention committee connected May 14, 2024. (Eric Stone/Alaska Public Media)

Budget negotiators successful nan Alaska Legislature person settled connected nan magnitude of this year’s Permanent Fund dividend and power alleviation check. Alaskans would person astir $1,655 this autumn if approved by nan House and Senate successful a last up-or-down ballot expected Wednesday, nan last time of nan legislative session.

The dividend costs of astir $1,360 represents 25% of nan Legislature’s yearly tie connected nan Permanent Fund. That’s nan fig passed by nan Senate arsenic portion of what Senate Finance Committee chair Sen. Bert Stedman, R-Sitka, called nan “living-within-our-means budget” erstwhile it passed nan precocious enclosure connected May 1. An power alleviation cheque of $295, meant to offset precocious costs, rounds retired nan total.

The House precocious a higher fig — astir $2,275 — erstwhile it passed its draught of nan state’s operating budget successful April. But Stedman warned that nan House’s fund would require a tie from savings aft accounting for superior projects, bills passed this convention and different expenses.

In nan end, nan Senate fig won out. But House Finance Committee co-chair DeLena Johnson, R-Palmer, underscored that this year’s payout will beryllium higher than last year’s $1,312 dividend.

“I do deliberation that Alaskans admit that this is simply a coagulated dividend this year,” Johnson told reporters aft House and Senate members wrapped up their activity connected nan budget’s convention committee.

Johnson said nan fund would besides sock immoderate money distant successful savings, though last figures were not instantly available.

“We put retired a patient dividend, and we had a bully superior budget,” she said. “There’s money going into savings, and it’s a balanced budget.”

The fund besides includes $175 cardinal successful one-time backing extracurricular nan accepted look for nationalist schools, astir balanced to $680 successful guidelines per-student funding. Dunleavy tin trim aliases zero retired items successful nan fund pinch a line-item veto, but he indicated earlier this period he would not veto nan summation successful acquisition funding.