NEWS: Bill Signed to Modernize Alaska’s Public School Trust Fund Using POMV Model

Fairbanks – Today, legislation was signed into law changing the management structure of the $675 million Alaska Public School Trust Fund to a percent of market value (POMV) system. POMV has become the standard global management approach for large endowments and trusts. House Bill 213, sponsored by Representative Justin Parish (D-Juneau), will result in a significant increase in funding available for public education in Alaska.

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Coalition Members Reflect on the 30th Alaska Legislature

Juneau – After a flurry of legislative action, the Alaska House of Representatives joined the Alaska Senate in adjourning the Second Session of the 30th Alaska Legislature sine die early Sunday morning. Members of the Alaska House Majority Coalition reflected on the legislative achievements of the session.

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Budget Deal Reached; State Operating Budget Passes the Alaska Legislature

Juneau – A compromise budget agreement between the Alaska House of Representatives and the Alaska State Senate was reached today, resulting in the passage of the fiscal year 2019 operating budget for the State of Alaska. Today’s budget deal prevents any disruption in essential public services as the State of Alaska enters the busy summer tourism and fishing seasons. House Bill 286 features total General Fund spending of $6.27 billion. The budget includes Alaska House Majority Coalition priorities such as $942 million to inflation-proof the value of the $65 billion Alaska Permanent Fund, $1.02 billion to pay for $1,600 Permanent Fund Dividends for each eligible Alaskan, a $10 million investment in the University of Alaska above the Governor’s proposal, and multiple measures to improve public safety and law enforcement in Alaska.

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NEWS: Coalition Pledges to Diligently Consider Governor Walker’s New Revenue Proposal and Criminal Justice Reform Bill

Anchorage – Speaker of the House Bryce Edgmon (D-Dillingham) issued the following statement in response to Governor Walker’s proclamation calling the 30th Alaska State Legislature into a 4th Special Session next month. The Governor is asking lawmakers to consider criminal justice reform legislation and a bill to create new revenue for the State of Alaska.

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NEWS: Alaska Legislature Passes Responsible Capital Budget Compromise

Juneau – Today, the Alaska Legislature overwhelmingly passed a capital budget for Fiscal Year 2018 that will result in approximately $1.2 billion in federal funds coming to Alaska. The approved capital budget was a negotiated compromise that ensures continued funding for Alaska’s roads, bridges, and other vital infrastructure. House Finance Committee Co-chair Rep. Neal Foster (D-Nome) helped negotiate the compromise and worked to ensure passage today.

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