Legislature(2009 - 2010)
2009-02-04 House Journal
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Full Journal pdf2009-02-04 House Journal Page 0164 As you know, we have already taken steps to reduce general funding spending. Even when oil prices were near their highest last summer, I implemented a $20 million savings target for state agencies to manage their budgets for efficiencies and achieve lower levels of spending in the current year. We have also implemented a hiring freeze and instructed departments to restrict purchases - again, as a management tool to help achieve more savings in the current year. The more we reduce now, the less we will have to draw from savings at the end of the year. Because of these efforts, we have minimized the supplemental need by eliminating the $50 million proposed for supplemental requests, reducing other expenditures, and reappropriating balances to minimize current year funding needs. In addition, we are reducing the authorization for tax credits by $200 million - due only to the timing and payment of tax credits. We are seeing an increase in oil and gas exploration and this new tax credit program has served us well. We will continue to monitor the changing economic conditions and the impact on oil prices in the coming weeks as we continue to work on this, and other appropriation bills this session. When oil prices and state revenue were on the rise, we worked together to build our reserves. Working together we can keep our economy on a steady, confident course - with discipline - to protect our reserves and promote economic growth. Thank you for your consideration of this legislation. Sincerely, /s/ Sarah Palin Governor" HB 114 HOUSE BILL NO. 114 by Representatives Ramras, Dahlstrom, Millett, Johansen, Edgmon, Petersen, Holmes, Foster, Johnson, Tuck, Gruenberg, Salmon, Coghill, Thomas, Joule, and Munoz, entitled: