Legislature(2023 - 2024)DAVIS 106
05/10/2023 06:00 PM House WAYS & MEANS
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| Audio | Topic |
|---|---|
| Start | |
| SB107 | |
| HJR7 | |
| Adjourn |
* first hearing in first committee of referral
+ teleconferenced
= bill was previously heard/scheduled
+ teleconferenced
= bill was previously heard/scheduled
| *+ | HB 194 | TELECONFERENCED | |
| + | TELECONFERENCED | ||
| += | SB 107 | TELECONFERENCED | |
| += | HJR 7 | TELECONFERENCED | |
ALASKA STATE LEGISLATURE
HOUSE SPECIAL COMMITTEE ON WAYS AND MEANS
May 10, 2023
6:04 p.m.
MEMBERS PRESENT
Representative Ben Carpenter, Chair
Representative Jamie Allard
Representative Tom McKay
Representative Kevin McCabe
Representative Cathy Tilton
Representative Andrew Gray
Representative Cliff Groh
MEMBERS ABSENT
All members present
OTHER LEGISLATORS PRESENT
Senator Robert Myers
Senator Shelley Hughes
Representative Craig Johnson
Representative Julie Coulombe
COMMITTEE CALENDAR
CS FOR SENATE BILL NO. 107(FIN)
"An Act relating to the Alaska permanent fund; relating to
income of the Alaska permanent fund; relating to the amount
available for appropriation and appropriations from the earnings
reserve account; relating to the permanent fund dividend; and
providing for an effective date."
- MOVED HCS CSSB 107(W&M) OUT OF COMMITTEE
HOUSE JOINT RESOLUTION NO. 7
Proposing amendments to the Constitution of the State of Alaska
requiring payment of a dividend to eligible state residents.
- MOVED CSHJR 7(W&M) OUT OF COMMITTEE
PREVIOUS COMMITTEE ACTION
BILL: SB 107
SHORT TITLE: PERMANENT FUND DIVIDEND; POMV SPLIT
SPONSOR(s): FINANCE
03/17/23 (S) READ THE FIRST TIME - REFERRALS
03/17/23 (S) FIN
03/21/23 (S) FIN AT 9:00 AM SENATE FINANCE 532
03/21/23 (S) Heard & Held
03/21/23 (S) MINUTE(FIN)
03/29/23 (S) FIN AT 9:00 AM SENATE FINANCE 532
03/29/23 (S) Heard & Held
03/29/23 (S) MINUTE(FIN)
04/12/23 (S) FIN AT 9:00 AM SENATE FINANCE 532
04/12/23 (S) -- MEETING CANCELED --
04/17/23 (S) FIN AT 9:00 AM SENATE FINANCE 532
04/17/23 (S) Heard & Held
04/17/23 (S) MINUTE(FIN)
04/18/23 (S) FIN AT 9:00 AM SENATE FINANCE 532
04/18/23 (S) Heard & Held
04/18/23 (S) MINUTE(FIN)
04/19/23 (S) FIN AT 1:30 PM SENATE FINANCE 532
04/19/23 (S) Moved CSSB 107(FIN) Out of Committee
04/19/23 (S) MINUTE(FIN)
04/21/23 (S) FIN RPT CS 2DP 3NR 1AM SAME TITLE
04/21/23 (S) DP: HOFFMAN, KIEHL
04/21/23 (S) NR: STEDMAN, MERRICK, BISHOP
04/21/23 (S) AM: OLSON
05/01/23 (S) TRANSMITTED TO (H)
05/01/23 (S) VERSION: CSSB 107(FIN)
05/03/23 (H) READ THE FIRST TIME - REFERRALS
05/03/23 (H) W&M, FIN
05/08/23 (H) W&M AT 6:00 PM DAVIS 106
05/08/23 (H) Heard & Held
05/08/23 (H) MINUTE(W&M)
05/09/23 (H) W&M AT 6:00 PM DAVIS 106
05/09/23 (H) Heard & Held
05/09/23 (H) MINUTE(W&M)
05/10/23 (H) W&M AT 6:00 PM DAVIS 106
BILL: HJR 7
SHORT TITLE: CONST AM: PERMANENT FUND DIVIDEND
SPONSOR(s): WAYS & MEANS
03/01/23 (H) READ THE FIRST TIME - REFERRALS
03/01/23 (H) W&M, JUD
03/06/23 (H) W&M AT 6:00 PM DAVIS 106
03/06/23 (H) Heard & Held
03/06/23 (H) MINUTE(W&M)
03/08/23 (H) W&M AT 6:00 PM DAVIS 106
03/08/23 (H) -- MEETING CANCELED --
03/11/23 (H) W&M AT 9:00 AM DAVIS 106
03/11/23 (H) Heard & Held
03/11/23 (H) MINUTE(W&M)
04/24/23 (H) W&M AT 6:00 PM DAVIS 106
04/24/23 (H) Heard & Held
04/24/23 (H) MINUTE(W&M)
04/25/23 (H) W&M AT 6:00 PM DAVIS 106
04/25/23 (H) Scheduled but Not Heard
05/10/23 (H) W&M AT 6:00 PM DAVIS 106
WITNESS REGISTER
DONALD THOMPSON, representing self
North Pole, Alaska
POSITION STATEMENT: Provided public testimony during the
hearing on SB 107.
JULIE MOORE, representing self
Soldotna, Alaska
POSITION STATEMENT: Provided public testimony during the
hearing on SB 107.
BERT HOUGHTALING, representing self
Big Lake, Alaska
POSITION STATEMENT: Provided public testimony during the
hearing on HB 190.
ACTION NARRATIVE
6:04:59 PM
CHAIR BEN CARPENTER called the House Special Committee on Ways
and Means meeting to order at 6:04 p.m. Representatives Tilton,
McKay, McCabe, Groh, Gray, and Carpenter were present at the
call to order.
SB 107-PERMANENT FUND DIVIDEND; POMV SPLIT
6:05:49 PM
CHAIR CARPENTER announced that the first order of business would
be CS FOR SENATE BILL NO. 107(FIN) "An Act relating to the
Alaska permanent fund; relating to income of the Alaska
permanent fund; relating to the amount available for
appropriation and appropriations from the earnings reserve
account; relating to the permanent fund dividend; and providing
for an effective date." [Before the committee, adopted on
5/9/2023 as a working document, was the proposed committee
substitute (CS) for SB 107, Version 33-LS0349\O, Nauman, 5/5/23,
("Version O").]
6:06:48 PM
CHAIR CARPENTER opened public testimony on SB 107.
6:07:18 PM
DONALD THOMPSON, representing self, expressed support for a
statutory permanent fund dividend (PFD) based on the five-year
performance of the fund. He pointed out that payments fluctuate
based on the fund's investments, which also impacts the amount
distributed to Alaskans. He explained that a percent of market
value (POMV) would pay out a percentage, even when the market
goes down, and in extreme downturns the principle of the fund
could be accessed, which he said is in violation of the state
constitution. He expressed the opinion that this turns Alaska
into an endowment state rather than a resource-owner state, and
whether a POMV model is adopted or not, 75 percent to government
and 25 percent to the PFDs should not be adopted, as this model
would favor the growth of government over the private sector.
He offered the understanding that most Alaskans do not want more
government services but a larger private sector economy. He
stated that if the state wants a vibrant private sector, then a
50/50 split model should be used.
6:09:48 PM
JULIE MOORE, representing self, expressed opposition to more
government control and the PFD 75/25 POMV split.
6:11:13 PM
BERT HOUGHTALING, representing self, expressed the opinion that
legislators need to start following the law concerning the PFD.
He stated that Alaska is ranked fiftieth [in the country] on all
metrics, including crime and homelessness. He suggested that
this would all stop if lawmakers stopped the theft of the PFD,
decreased the size of government, and followed the law.
6:12:49 PM
CHAIR CARPENTER, after ascertaining that there was no one else
who wished to testify, closed public testimony.
6:13:40 PM
REPRESENTATIVE GROH moved to adopt Amendment 1 to CSSB 107,
Version O, labeled 33-LS0349\O.2, Nauman, 5/10/23. [A copy of
Amendment 1 is provided at the end of the minutes of SB 107.]
REPRESENTATIVE MCCABE objected.
REPRESENTATIVE GROH pointed out that oil revenues have fallen
dramatically, and despite the adoption of the POMV system, there
has been insufficient revenue to compensate for the drop in oil
revenues. He expressed support for the largest PFD the state
can afford, with the goal of a 50/50 POMV split between the PFD
payments and public services. He pointed out that Version O
would have an "on-off" switch between a 25/75 and 50/50 POMV
split. He stated that Amendment 1 proposes a stairstep process
which would build increments over time with a 50/50 POMV split.
He stated the increments would be in the amount of $250 million.
He highlighted that Version O addresses that the state cannot
afford to pay PFDs based on a 50/50 POMV without new revenue;
furthermore, it would create incentives for lawmakers to build a
sustainable fiscal plan.
REPRESENTATIVE GROH expressed agreement with the goal of Version
O; however, he suggested that the goal would not be achievable.
He continued that what is needed is using smaller increments
towards paying residents at a 50/50 POMV draw level. He
informed members that graphs [included in the committee packet]
have been attached to the amendment depicting four scenarios.
He pointed out the first scenario assumes the stair-stepping
process succeeds with $250 million in revenue produced, which
would be used to generate revenue for the next decade. He
explained that as more revenues come online, more revenues for
PFDs would be made available. The second scenario assumes
revenues remained low, growing later, with growth in the
constitutional budget reserve (CBR). Scenario three is the same
as scenario one, but it avoids the unfilled deficits, which
draws on a shrinking savings balance. Scenario four is a
forecast which depicts Version O with no new revenues. The
result would be an average deficit of about $1 billion a year
over a ten-year period, with a cumulative gap of $7 billion. He
argued that the graphs show why it would be good to raise new
revenues; therefore, the state could support a 50/50 POMV split.
He noted that the system has worked in the past because there
were substantial amounts of new revenues each year; however, the
system stopped working ten years ago. He advised that the state
has not fully adjusted to its failure. He reiterated that in
order to obtain the 50/50 POMV split, there would need to be new
revenues. He argued that Amendment 1 would add an incentive for
the state to seek new revenues.
6:21:43 PM
REPRESENTATIVE GRAY referenced the first graph and suggested
that even with $1.25 billion in new revenues and a $3,000 PFD,
the state would still need to make a CBR draw.
REPRESENTATIVE GROH answered in the affirmative.
6:22:24 PM
CHAIR CARPENTER asked that, regarding not binding future
legislatures, how would the amendment solve the "political
football" issue the PFD has become.
REPRESENTATIVE GROH responded that the goal would be for the
legislature to adopt legislation which would generate more
revenues. He deduced that, as revenues go up, the value of the
PFD would go up. He continued that this would be a system where
the PFD would go up over time, allowing the additional revenues
to pay for public services.
CHAIR CARPENTER asked if the "may appropriate" language helps or
hinders solving the PFD issue.
REPRESENTATIVE GROH responded that the amendment would help
because the state would have to recognize that a 50/50 PFD
cannot happen without substantial new revenues.
CHAIR CARPENTER asked whether the modeling assumes any
constraint spending or cap.
REPRESENTATIVE GROH pointed out this is in existing law;
however, the proposed amendment would not have a spending cap.
He suggested that other pending bills in the legislature, if
passed, would create revenues allowing the state to afford the
50/50 PFD; however, the legislature would need to pass these
bills, or there would be no way to fund the 50/50 split.
6:25:31 PM
REPRESENTATIVE MCCABE asked what Representative Groh envisions
as the new revenues in Alaska.
REPRESENTATIVE GROH responded that he is the prime sponsor of
other bills currently before the legislature, and these bills
would seek to raise $250 million in revenue a year via changes
in oil taxes. He further shared that he proposed high-earner
tax legislation, and that a bill in the other body would raise
money on highly digitized businesses which could provide
millions in revenues. He pointed out that the state has access
to new revenues, but the legislature needs the will to pass new
revenues to fund public services and PFDs.
REPRESENTATIVE MCCABE maintained his objection.
6:27:49 PM
A roll call vote was taken. Representatives Gray and Groh voted
in favor of Amendment 1 to CSSB 107, Version O. Representatives
McCabe, Tilton, Allard, McKay, and Carpenter voted against it.
Therefore, Amendment 1 failed by a vote of 2-5.
6:28:36 PM
REPRESENTATIVE MCCABE moved to adopt Amendment 2 to CSSB 107,
Version O, labeled, 33-LS0349\O.1, which read as follows:
Page 3, line 27:
Delete all material and insert:
"* Sec. 9. The uncodified law of the State of
Alaska is amended by adding a new section to read:
CONDITIONAL EFFECT. This Act takes effect only
if, by July 1, 2024, the legislature passes a
resolution proposing an amendment to art. IX, sec. 15,
Constitution of the State of Alaska, that requires an
annual permanent fund dividend be paid to eligible
residents of the state.
* Sec. 10. If this Act takes effect, it takes
effect July 1, 2024."
REPRESENTATIVE GRAY objected.
6:28:47 PM
CHAIR CARPENTER explained that Amendment 2 is conditional and
would only take effect if, by July 1, 2024, the legislature
passes a resolution to Article 9, Section 15, of the state's
constitution which would require that an annual PFD be paid to
eligible residents in the state. He stated that Amendment 2
would also add Section 10, which would provide that the act
takes effect July 1, 2024.
6:29:44 PM
REPRESENTATIVE GRAY questioned whether the intent of the
amendment is to exert leverage on the legislature to pass such a
resolution.
CHAIR CARPENTER answered that "leverage" is not the right word,
rather, Amendment 2 would be tying SB 107 with a resolution on
the constitutionality of the PFD.
REPRESENTATIVE GRAY questioned the value of a bill which states
that the legislature is pushing a 50/50 POMV, even if it is not
constitutionally bound to follow such a formula.
CHAIR CARPENTER said that for seven years there has been no will
in the body to address changes to the PFD program statutes, and
he has brought forward several pieces of legislation as a fiscal
plan to be enacted together. He explained that Amendment 2 ties
SB 107 with another piece of legislation as part of a fiscal
plan. Regarding as to whether there would be value if the bills
were not tied, he answered that, without a constitutional
amendment to direct a PFD payment the current appropriations
issue will not be solved. He argued that the value is that it
solves the political PFD problem, which has existed since the
state began using the permanent fund earnings for state
government.
REPRESENTATIVE GRAY withdrew his objection. There being no
further objection, Amendment 2 was adopted.
6:34:57 PM
REPRESENTATIVE GROH stressed that the PFD question needs to be
solved by keeping the fund healthy. He said the guarantee of
the dividend only works if the underlying bill is amended to
recognize that the state needs additional revenues. He stated
that he will be voting "amend" on Version O.
6:35:56 PM
REPRESENTATIVE MCCABE relayed that the Fiscal Policy Working
Group identified four areas: PFD, revenue, cuts, and a spending
cap. He advised that SB 107 and HJR 7 are the PFD part. He
said the legislature has not cut spending, as there is no
political will for it, but the legislation would be a partial
solution to the PFD.
6:38:14 PM
REPRESENTATIVE MCCABE moved to report CSSB 107(FIN), Version 33-
LS0349\O, Nauman, 5/5/23, as amended, out of committee with
individual recommendations and the accompanying fiscal notes.
There being no objection, HCS SB 109(W&M) was reported out of
the House Special Committee on Ways and Means.
[Following is a copy of Amendment 1 to CSSB 107, labeled, 33-
LS0349\O.2, Nauman, 5/5/23, which read as follows:]
Page 2, following line 3:
Insert a new bill section to read:
"* Sec. 2. AS 24.20.221 is amended by adding a new
subsection to read:
(c) Each year, the fiscal analyst and the
commissioner of revenue shall jointly certify and
publish the amount of new revenue as required
under AS 37.13.145(g)."
Renumber the following bill sections accordingly.
Page 2, line 14, through page 3, line 26:
Delete all material and insert:
"(b) The corporation shall determine the
amount available for appropriation each year. The
amount available for appropriation is five
percent of the average market value of the fund
for the first five of the preceding six fiscal
years, including the fiscal year just ended,
computed annually for each fiscal year in
accordance with generally accepted accounting
principles. The amount available for
appropriation may not exceed the balance in the
earnings reserve account described in AS
37.13.145. In this subsection, "average market
value of the fund" includes the balance of the
earnings reserve account established under AS
37.13.145, but does not include that portion of
the principal attributed to the settlement of
State v. Amerada Hess, et al., 1JU-77-847 Civ.
(Superior Court, First Judicial District).
* Sec. 4. AS 37.13.145(b) is amended to read:
(b) Each [AT THE END OF EACH] fiscal year,
the legislature may appropriate [CORPORATION SHALL
TRANSFER] from the
(1) earnings reserve account to the general
fund the amount available for appropriation
calculated under AS 37.13.140(b);
(2) general fund to the dividend fund
established under AS 43.23.045
(A) 25 [, 50] percent of the income
available for appropriation [DISTRIBUTION] under
AS 37.13.140(b) if the annual amount of new
revenue, as determined under (g) of this section,
is less than $250,000,000;
(B) 30 percent of the income available
for appropriation under AS 37.13.140(b) if the
annual amount of new revenue, as determined under
(g) of this section, is greater than or equal to
$250,000,000, but less than $500,000,000;
(C) 35 percent of the income available
for appropriation under AS 37.13.140(b) if the
annual amount of new revenue, as determined under
(g) of this section, is greater than or equal to
$500,000,000, but less than $750,000,000;
(D) 40 percent of the income available
for appropriation under AS 37.13.140(b) if the
annual amount of new revenue, as determined under
(g) of this section, is greater than or equal to
$750,000,000, but less than $1,000,000,000;
(E) 45 percent of the income available
for appropriation under AS 37.13.140(b) if the
annual amount of new revenue, as determined under
(g) of this section, is greater than or equal to
$1,000,000,000, but less than $1,250,000,000;
(F) 50 percent of the income available
for appropriation under AS 37.13.140(b) if the
annual amount of new revenue, as determined under
(g) of this section, is greater than or equal to
$1,250,000,000 [AS 37.13.140].
* Sec. 5. AS 37.13.145(c) is amended to read:
(c) After the appropriations [TRANSFER]
under (b) [AND AN APPROPRIATION UNDER (e)] of
this section, the legislature may appropriate
[CORPORATION SHALL TRANSFER] from the earnings
reserve account to the principal of the fund an
amount sufficient to offset the effect of
inflation on the principal of the fund during
that fiscal year. However, none of the amount
appropriated [TRANSFERRED] shall be applied to
increase the value of that portion of the
principal attributed to the settlement of State
v. Amerada Hess, et al., 1JU-77-847 Civ.
(Superior Court, First Judicial District) on July
1, 2004. The corporation shall calculate the
amount to appropriate [TRANSFER] to the principal
under this subsection by
(1) computing the average of the monthly
United States Consumer Price Index for all urban
consumers for each of the two previous calendar
years;
(2) computing the percentage change between
the first and second calendar year average; and
(3) applying that rate to the value of the
principal of the fund on the last day of the
fiscal year just ended, including that portion of
the principal attributed to the settlement of
State v. Amerada Hess, et al., 1JU-77-847 Civ.
(Superior Court, First Judicial District).
* Sec. 6. AS 37.13.145(d) is amended to read:
(d) Notwithstanding (b) of this section,
income earned on money awarded in or received as
a result of State v. Amerada Hess, et al., 1JU-
77-847 Civ. (Superior Court, First Judicial
District), including settlement, summary
judgment, or adjustment to a royalty-in-kind
contract that is tied to the outcome of this
case, or interest earned on the money, or on the
earnings of the money shall be treated in the
same manner as other income of the Alaska
permanent fund, except that it is not available
for appropriation [DISTRIBUTION] to the general
fund or the dividend fund under (b) of this
section or [,] for an appropriation [TRANSFERS]
to the principal under (c) of this section [, OR
FOR AN APPROPRIATION UNDER (e) OF THIS SECTION,]
and shall be annually deposited into the Alaska
capital income fund (AS 37.05.565).
* Sec. 7. AS 37.13.145 is amended by adding a new
subsection to read:
(g) Each year, the commissioner of revenue
and the fiscal analyst of the legislative finance
division shall jointly certify and publish the
amount of new annually recurring general fund
revenue, when compared to annual revenue
generated from the Alaska Statutes as they read
on January 1, 2023. In this subsection, "general
fund revenue" does not include revenue from the
permanent fund.
* Sec. 8. AS 37.13.300(c) is amended to read:
(c) Net income from the mental health trust
fund may not be included in the computation of
the amount [NET INCOME OR MARKET VALUE] available
for [DISTRIBUTION OR] appropriation under AS
37.13.140(b) [AS 37.13.140].
* Sec. 9. AS 43.05.010 is amended to read:
Sec. 43.05.010. Duties of commissioner. The
commissioner of revenue shall
(1) exercise general supervision and
direct the activities of the Department of
Revenue;
(2) supervise the fiscal affairs and
responsibilities of the department;
(3) prescribe uniform rules for
investigations and hearings;
(4) keep a record of all departmental
proceedings, record and file all bonds, and
assume custody of returns, reports, papers, and
documents of the department;
(5) adopt a seal and affix it to each
order, process, or certificate issued by the
commissioner;
(6) keep a record of each order, process,
and certificate issued by the commissioner, and
keep the record open to public inspection at all
reasonable times;
(7) hold hearings and investigations
necessary for the administration of state tax and
revenue laws;
(8) except as provided in AS 43.05.405
- 43.05.499 and in AS 44.64.030, hear and
determine appeals of a matter within the
jurisdiction of the Department of Revenue and
enter orders on the appeals that are final unless
reversed or modified by the courts;
(9) issue subpoenas to require the
attendance of witnesses and the production of
necessary books, papers, documents,
correspondence, and other things;
(10) order the taking of depositions
before a person competent to administer oaths;
(11) administer oaths and take
acknowledgments;
(12) request the attorney general for
rulings on the interpretation of the tax and
revenue laws administered by the department;
(13) call on [UPON] the attorney general
to institute actions for recovery of unpaid
taxes, fees, excises, additions to tax,
penalties, and interest;
(14) issue warrants for the collection
of unpaid tax penalties and interest and take all
steps necessary and proper to enforce full and
complete compliance with the tax, license,
excise, and other revenue laws of the state;
(15) report to the legislature before
February 15 of each year the total amount of
contributions reported and the total amount of
credit claimed during the previous calendar year
under AS 43.20.014, AS 43.55.019, AS 43.56.018,
AS 43.65.018, AS 43.75.018, and AS 43.77.045;
(16) consult with the commissioner of
natural resources on negotiation of contracts and
development of terms for inclusion in proposed
contracts associated with a North Slope natural
gas project;
(17) direct the disposition of revenue
received from gas delivered to the state under AS
43.55.014(b) by entering into agreements with the
commissioner of natural resources related to the
management of the custody and disposition of gas
delivered to the state under AS 43.55.014(b);
(18) each year, jointly certify and
publish with the fiscal analyst of the
legislative finance division the amount of new
revenue as required under AS 37.13.145(g).
* Sec. 10. AS 43.23.025(a) is amended to read:
(a) By October 1 of each year, the
commissioner shall determine the value of each
permanent fund dividend for that year by
(1) determining the total amount available
for dividend payments, which equals
(A) the amount appropriated [OF
INCOME OF THE ALASKA PERMANENT FUND
TRANSFERRED] to the dividend fund under AS
37.13.145(b) during the current year;
(B) plus the unexpended and
unobligated balances of prior fiscal year
appropriations that lapse into the dividend
fund under AS 43.23.045(d);
(C) less the amount necessary to
pay prior year dividends from the dividend
fund in the current year under AS
43.23.005(h),43.23.021, and 43.23.055(3) and
(7);
(D) less the amount necessary to
pay dividends from the dividend fund due to
eligible applicants who, as determined by
the department, filed for a previous year's
dividend by the filing deadline but who were
not included in a previous year's dividend
computation;
(E) less appropriations from the
dividend fund during the current year, including
amounts to pay costs of administering the
dividend program and the hold harmless
provisions of AS 43.23.240;
(2) determining the number of individuals
eligible to receive a dividend payment for the
current year and the number of estates and
successors eligible to receive a dividend payment
for the current year under AS 43.23.005(h); and
(3) dividing the amount determined under
(1) of this subsection by the amount determined
under (2) of this subsection.
* Sec. 11. AS 37.13.145(e) and 37.13.145(f) are
repealed."
Renumber the following bill section accordingly.
HJR 7-CONST AM: PERMANENT FUND DIVIDEND
6:38:44 PM
CHAIR CARPENTER announced that the final order of business would
be HOUSE JOINT RESOLUTION NO. 7, "Proposing amendments to the
Constitution of the State of Alaska requiring payment of a
dividend to eligible state residents." [Amendment 1 to HJR 7
was passed during the committee meeting on 4/24/23.]
6:38:58 PM
The committee took an at-ease from 6:38 p.m. to 6:42 p.m.
6:42:57 PM
CHAIR CARPENTER asked for questions or comments before reporting
HJR 7 out of committee.
6:43:24 PM
REPRESENTATIVE MCKAY requested a summary of HJR 7.
CHAIR CARPENTER answered that HJR 7 would require the state to
pay the PFD through a formula established in statute rather than
by the annual appropriations process. He said the amendments in
the proposed resolution address constitutional issues raised by
the Alaska Supreme Court in Wielechowski v. State, 403 P.3d 1141
(2017). He explained that this case allows the legislature to
appropriate the PFD rather than pay the dividends out by
formula. He explained that the proposed resolution would allow
the legislature to dedicate funds to the PFD program without
having to make appropriations every year.
6:44:36 PM
REPRESENTATIVE MCCABE moved to report HJR 7, as amended, out of
committee with individual recommendations and the accompanying
fiscal notes. There being no objection, CSHJR 7(W&M) was
reported out of committee.
6:46:15 PM
ADJOURNMENT
There being no further business before the committee, the House
Special Committee on Ways and Means meeting was adjourned at
6:46 p.m.
| Document Name | Date/Time | Subjects |
|---|---|---|
| Amendment # 1 CS to CSSB107.pdf |
HW&M 5/10/2023 6:00:00 PM |
SB 107 |
| Emailed Testimony 5.10.2023.pdf |
HW&M 5/10/2023 6:00:00 PM |
SB 107 |