A snowmachiner passes the Alyeska Pipeline Visitor Station along the Steese Highway near Fox as visitors take photos and read the information panels Tuesday afternoon, January 2, 2018. The Trans-Alaska Pipeline System (TAPS) oil throughput from the North Slope is up for the second consecutive year.

FAIRBANKS — The Alaska Legislature approved a compromise bill Tuesday that could shrink permanent fund dividends to help the government close a multi-billion dollar budget gap.

Senate Bill 26, originally created at the request of the governor, also creates rules on how much the Legislature is allowed to draw from the earnings of the $65 billion fund to spend on government versus the PFD each year. 

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