Alaska Permanent Fund

As the Alaska Legislature convened for a special session Monday, Gov. Mike Dunleavy continued to urge lawmakers to consider his plan to guarantee in the Constitution the Permanent Fund dividend and a rural power cost subsidy program.

Dunleavy’s plan is for a 50/50 split between funding the Permanent Fund Dividend for residents and paying for state services. He also wants to establish a state spending cap.

The governor’s proposal also would protect the Power Cost Equalization Program for rural ratepayers, who have among the highest electricity bills in Alaska.

“We cannot continue to put the future of the Permanent Fund, PFD, and PCE on the back burner,” Dunleavy said. “Alaskans need surety when it comes to their government’s actions with their resource wealth, and it is irresponsible to push the issue further down the road.”

Dunleavy previously vetoed the PFD appropriation, saying the $525 amount was too low.

If the Legislature advances the Dunleavy-backed legislation, voters will decide by ballot whether to protect the PFD and the power subsidies in the state Constitution.