State Lost Money due to Inaction on Budget

    Juneau, Alaska (KINY) - Uncertainty on the state budget cost Alaska some interest earnings this year from the state's permanent fund.

    The Juneau Empire reported that the Permanent Fund pulled billions of dollars of investments on the market to have funds available if the legislature decided to use permanent fund money for the service of government.

    The money could have earned 12.5% interest on the stock market last year. The fund is currently worth more than $62 billion.

    State lawmakers are in Juneau for the fourth special session of the year and one of the focuses has been on a state fiscal plan. Most of the attention though has been on crime and toughening sentencing laws. 

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