Signed by Governor Bill Walker

Vote Smart's Synopsis:

Vote to pass a bill that establishes a budget for fiscal year 2018-2019.

Highlights:

• Appropriates $2.7 billion from the Alaska Permanent Fund earnings reserve account, equivalent to 5.25 percent of market value, as follows (Sec. 3):

• The amount necessary, estimated at $1.1 billion, for the payment of $1,600 permanent fund dividends; and

• The remainder, estimated at $1.7 billion, to the general fund for various purposes.

• Appropriates unrestricted interest earned on general fund balance for fiscal year 2018-2019 to the budget reserve fund to compensate the budget reserve fund for lost earnings resulting from use of the fund for capital and operating appropriations for fiscal year 2018-2019 (Sec. 28).

• Appropriates $26.7 million the the Public Defender Agency (Sec. 1).

Full Bill Text