He said his main goal in putting forward the legislation is because he sees broad agreement on the need to protect the Alaska Permanent Fund from being spent like other now-drained state savings accounts.
alaska permanent fund
The Alaska Permanent Fund Corporation says it could have been far worse.
The idea comes as the Anchorage Assembly is considering instituting new taxes to fill the gap left by dwindling state assistance to communities.
“What is the goal of having quarterly payments?” asked one legislator.
While FischerMania was running wild in Juneau, here’s what happened.
Rep. Jonathan Kreiss-Tomkins says the whole discussion highlights the need to rethink the Alaska Permanent Fund in order to protect as much money from legislators as possible.
Despite approving a $3,000 dividend last week, the Senate Finance Committee is pushing ahead with reduced future dividends.
“My goal is that, and I think a goal shared by a lot of people in this body, is that we have enough money protected permanently in the permanent fund that we can continue to argue about how to spend that money 20 years from now,” said Rep. Jonathan Kreiss-Tomkins.
The plan would reduce future dividends and increase the risk the account could be zeroed out.
The proposed cuts highlight the risk with relying one Legislature to keep the promises of another.