A bill before lawmakers would take about $2.5 billion dollars to help pay for state government.
FAIRBANKS, Alaska (AP) — State government officials might be too optimistic about the market when planning to use money from the Alaska Permanent Fund to help pay for state government.
That's what the chief executive officer of the corporation that manages the Alaska Permanent Fund told both the editorial board of the Fairbanks Daily News-Miner on Tuesday.
A bill before lawmakers would take 5.25 percent of the market value, or about $2.5 billion dollars, to help pay for state government.
The fund's CEO, Angela Rodell, says she has concerns about the ability of the fund to keep up with that expectation year after year.
The fund's trustees currently have a goal of a 5 percent return with an additional 2.25 percent for inflation. The fund hasn't met those goals recently because of the market.
Lawmakers will reconvene in special session on July 11 in Juneau to take up the PFD bill and other revenue-generating measures to address the multibillion dollar budget shortfall.
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