2014-09-19                     Senate Journal                      Page 2839
SB 119                                                                                                                        
Message dated May 28 was received stating:                                                                                      
                                                                                                                                
Dear President Huggins,                                                                                                         
                                                                                                                                
On this date, I have signed the following bill passed by the second                                                             
session of the Twenty-Eighth Alaska State Legislature and am                                                                    
transmitting the engrossed and enrolled copies to the Lieutenant                                                                
Governor's Office for permanent filing:                                                                                         
                                                                                                                                
         HOUSE CS FOR CS FOR SENATE BILL NO.                                                                                    
         119(FIN) am H "An Act making and amending                                                                              
         appropriations, including capital appropriations,                                                                      
         supplemental appropriations, reappropriations, and                                                                     
         other appropriations; making appropriations to                                                                         
         capitalize funds; making appropriations under art. IX,                                                                 
         sec. 17(c), Constitution of the State of Alaska, from                                                                  
         the constitutional budget reserve fund; and providing                                                                  
         for an effective date."                                                                                                
                                                                                                                                
                          Chapter No. 18, SLA 2014                                                                             
                       [Effective Date: See Chapter]                                                                           
                                                                                                                                

2014-09-19                     Senate Journal                      Page 2840
As passed by the Legislature, HCS CSSB 119(FIN) am H contains                                                                   
capital, supplemental, and operating appropriations for Fiscal Year                                                             
2014 and Fiscal Year 2015, totaling $2.45 billion, including $888.8                                                             
million in unrestricted general funds. This bill represents my continued                                                        
commitment to Alaska's constitutional priorities including resource                                                             
development, public safety, education, transportation, and                                                                      
infrastructure.                                                                                                                 
                                                                                                                                
This legislation also approves a transfer of $3 billion from the                                                                
Constitutional Budget Reserve fund into the State's retirement trust                                                            
funds. This transfer addresses Alaska's single largest cost driver - our                                                        
unfunded pension liability - and will significantly reduce our annual                                                           
operating costs instead of pushing it off to future generations.                                                                
                                                                                                                                
I am committed to a responsible budget that provides essential public                                                           
services and makes strategic investments to grow our economy.                                                                   
Leaving a strong, vibrant Alaska for our children and grandchildren                                                             
requires living within our means and prioritizing spending for                                                                  
Alaskans' future. The capital budget focuses on fixing what we have                                                             
through deferred maintenance and finishing what we have started. It                                                             
also provides matching funds to leverage federal and local dollars. The                                                         
budget contains ongoing investments in energy development, roads to                                                             
resources, water and sewer projects, and school construction.                                                                   
                                                                                                                                
Working together, we were able to enact a responsible budget and                                                                
significantly reduce State spending from the current year. In addition,                                                         
with the increased jobs and economic activity being generated by the                                                            
More Alaska Production Act, our state will continue to be prosperous                                                            
and full of opportunity.                                                                                                        
                                                                                                                                
Thank you for your leadership.                                                                                                  
                                                                                                                                
Sincerely,                                                                                                                      
/s/                                                                                                                             
Sean Parnell                                                                                                                    
Governor