A new formula for Permanent Fund dividend payments is heading toward a vote in the Alaska Senate: The proposal calls for $2,600 in 2022 with payments dropping unless lawmakers approve new revenue to balance the cost.
that high oil prices will remain for longer than a year and believe the cost of services could rise faster than projected by the Dunleavy administration.
In an unusual move, senators are advancing the formula change bill without a guarantee that it has enough support to pass the Senate. That means the formula could change substantially before it advances out of the Senate. Skeptical lawmakers and members of the public have advocated a constitutionally guaranteed dividend, saying that according to a 2017 Alaska Supreme Court decision, lawmakers could ignore a changed formula just as they have ignored the existing formula, which hasn’t been followed in several years.
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