A compromise bill to use Alaska Permanent Fund earnings to help stem the state’s multibillion-dollar deficit has failed to make it out of the House Finance Committee.
The Juneau Empire reports the committee’s co-chairman, Rep. Steve Thompson, says legislators were one vote short of the six votes needed Thursday to advance the bill to the House floor. The committee is expected to try again Friday.
The committee voted on a new version of the bill submitted earlier that day that calls for limiting dividend payouts to $1,500 for residents this year and next.
The previous version, which passed the Senate, limits distributions to $1,000 the next three years.
The measure is the centerpiece of Gov. Bill Walker’s fiscal plan and would roughly halve Alaska’s more than $3 billion deficit.