| The Alaska Senate Finance Committee has unveiled its plan to fill much of the state’s $4.1 billion annual deficit using the Alaska Permanent Fund. In April 12 meeting, Sen. Anna MacKinnon, R-Eagle River, and co-chair of the committee, debuted “in pencil — per the governor — a committee substitute for Senate Bill 128.”
Senate Bill 128, proposed by Gov. Bill Walker earlier this year, proposed reforming the $52.2 billion Permanent Fund based on a sovereign wealth fund model that would generate $3.3 billion per year from its investments for state operations. The new proposal takes Walker’s notion and blends it with Senate Bill 114, a similar bill introduced by Sen. Lesil McGuire, R-Anchorage, last year that uses what’s called a Percent of Market Value approach, or POMV...............................................Full Article: Source |