Dividend payments expected in 30 days
Alaskans can expect to see their permanent fund dividends in about 30 days after Gov. Mike Dunleavy announces that he will not veto a bill allocating $ 1,100 for payments. .
Brian Fechter, deputy commissioner at the Department of Revenue, said in an email that the PFD division was working as fast as possible and that 30 calendar days remained in the estimated delivery time.
According to DOR, the state paid 630,937 dividends in 2020 amounting to more than $ 625 million. The bill signed by the governor split dividend funding between two sources – a decision that remains a point of contention between Dunleavy and the legislature – but the total amount spent on this year’s payment is $ 730.5 million.
The governor signed the bill Tuesday night after it passed the Alaska Senate on the same day. Thirty calendar days from September 15 are October 13.
Several lawmakers, and Dunleavy, have expressed deep frustration with the amount of the dividend, saying the state should follow a 1980s law that would have allocated this year a PFD of about $ 3,800. The governor submitted a bill proposing a dividend of $ 2,350 citing the strong growth of the Alaska Permanent Fund over the past year, but that would have forced lawmakers to break their own law limiting levies on the fund. funds.
However, there is strong resistance to exceeding the revenues of the Permanent Fund which enjoys strong bipartite and bicameral support. Speaking to the Senate on Tuesday, Senator Bert Stedman, R-Sitka, said that there were a number of funding laws and that the state had a constitutional obligation to fund programs that support health, la security and schools.
Senator Mike Shower, R-Wasilla, said he found this argument unconvincing and said the legislature should first allocate dividends based on the 1980s formula and use the remaining money for services. of State. These public services would include things like police, infrastructure maintenance and schools.
Governor Tuesday convened a fourth extraordinary session of the legislature of October 1 to debate âone or more acts relating to a tax planâ.
Contact reporter Peter Segall at [email protected] Follow him on Twitter at @SegallJnuEmpire.