[{"_1":2,"_98":-5,"_99":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,87],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6261046,"mediaKeyId","3125054-fa711288a8ed79f5790573858486d848","parentId",3125054,"title","Senate Finance adopts committee substitute for HB 55 (mental health budget) with subcommittee changes","audioSeconds",151,"startMs",4545000,"endMs",4696000,"viewUrl","/Search/View?dp=1&key=3125054-fa711288a8ed79f5790573858486d848&start=4545&end=4696","thumbnailUrl","https://assets.pipeline.soar.com/3125054-fa711288a8ed79f5790573858486d848/thumbnail_4545000.jpg","articleUrl","/articles/6261046/Alaska/Senate-Finance-adopts-committee-substitute-for-HB-55-mental-health-budget-with-subcommittee-changes","mediaUrl","https://secure.pipeline.soar.com/6261046-18af45166dc0dcc896285b7bfe8c79d4/orig.mp4?Expires=1771145803&Signature=IIKDb4ModrvrCKW7eghkKkOnMCdJBtOsyHdx1Fyjbhtv0HEJT2asI7nvi9BYyd7~ccEXPEJMdIujg5ydoLQwQKDQMY0T2ONjc~pK4va3ZAvnLaCOuN7QPpDGG5snehoDL4n61klByFA8YlhW5YEXS4Ux9yrZkVPPyi0MYEnQYkpW4uAw8euvgk5iX4FnSnGZisaOV~QDZobOkQRqjSMQGFZ2qxNBVFtC-xE7lfGJZbYB5-F53xrqKFnGV~Oas8V0CAzZe4Y4kbWzNvzTmYi52hhhROznBKtFzISYl2ynFJnMY94tX~zvVWioHZrRjClC2MY5Avsh9FoG7bPrYCYgtA__&Key-Pair-Id=KUT5TJCACFTXG","author","Alaska Legislature","date","2025-04-24T00:00:00Z","article","Juneau — The Alaska Senate Finance Committee adopted a committee substitute for House Bill 55, the mental health budget, after staff summarized the limited number of changes from the previously adopted CS.

Pete Eklund, staff to the committee, told the panel his explanation of changes for HB 55 was short: “My explanation of changes document is half a page, not 6.” The CS incorporates all subcommittee changes in the number section with two notable exceptions that match the broader operating bill: deletion of cross‑appropriation authority to move up to $5,000,000 between maintenance and operations and other appropriations, and additions to the list of approved monetary terms for collective bargaining agreements. Eklund identified the Alaska Correctional Officers Association, the Teachers Education Association of Mount Edgecumbe, and United Academics (American Association of University Professors, AFT) as newly added bargaining units in the bill’s language.

With no questions or sustained objections, the committee adopted the CS and set the bill aside for further committee consideration as part of the finance process.

","mediaType","Video","parentTitle","04/24/2025 09:00 AM Senate FINANCE","oneSentenceSummary","The Senate Finance Committee adopted its committee substitute for House Bill 55, the mental health budget, incorporating subcommittee recommendations and adding several collective bargaining agreements to the list of approved monetary terms.","taxTitle","2025 Legislature Alaska, Alaska","taxId",78559,"location","Alaska","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":44,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6261051,"Senate Finance adopts committee substitute for HB 53 as working document; bill moves to amendment deadline",1855,2690000,"/Search/View?dp=1&key=3125054-fa711288a8ed79f5790573858486d848&start=2690&end=4545","https://assets.pipeline.soar.com/3125054-fa711288a8ed79f5790573858486d848/thumbnail_2690000.jpg","/articles/6261051/Alaska/Senate-Finance-adopts-committee-substitute-for-HB-53-as-working-document-bill-moves-to-amendment-deadline","https://secure.pipeline.soar.com/6261051-71577e596a7c71cf4b82edddc58d43d8/orig.mp4?Expires=1771145803&Signature=NncIO3TGav8T5dd9ARO3SetbBIcbN2m7n5SX1V7EemjscnoixKZVvraSQEwWcJF0AxDerIhE-XBPy7VYScbnLOvcP9bVTwoJSR7oopCvxlzADn1pUb85kA050ciuW5gm0buuDKbbQEfp2UtQttiaeRhYFGnYMaNSotlSepjo5-Wl-ZFX~3snkNLVAI3~EnSXyQ15JImRvnuqiY1WPCOJtXORLC-7Eood7EoY30TdKt~-KbD6bUI631UjHQAl6GZCznAQ7vaXGCMV1jrdd60vmI9IhZ3Ui6d50C3To6gBKAoDXmPRi2uCOAtAZPgPHcZ6tbfUpBabRYZoq7TGrmls3g__&Key-Pair-Id=KUT5TJCACFTXG","Juneau — The Alaska Senate Finance Committee on Monday adopted a committee substitute (CS) for House Bill 53, the FY 2026 operating budget, designating the CS as the committee’s working document and setting a deadline for amendments.

Senator Steadman moved adoption of the CS and, after an explanation by staff, the committee removed objections and approved the CS by voice. Pete Eklund, operating budget coordinator and staff to the committee, reviewed changes between the prior CS and the version before the committee.

Eklund said the CS adopts subcommittee recommendations for agency operations with a few exceptions: it adds $250,000 of unrestricted general funds to the Department of Education for career and technical education (CTE), removes a previously proposed cross‑appropriation authority that would have allowed departments to move up to $5,000,000 between maintenance and operations and other appropriations, and moves Alaska Marine Highway System operations into the number section for calendar 2026 operations.

The CS includes new lapsing language that directs the unexpended, unobligated balance of any general fund appropriation available for lapse at the end of FY 2025 to the school major maintenance fund, not to exceed $30,000,000. The bill also appropriates the POMV payout under existing statute to the general fund (Eklund said this is about $3,800,000,000) and directs 25% of that POMV payout to the dividend fund (Eklund estimated about $950,000,000, which the staff said would approximate a $1,400 permanent fund dividend check).

Eklund outlined numerous technical fixes, conforming changes and program‑level adjustments across the bill: adjusted debt service shares where federal funds cover part of payments, reductions to school bond debt reimbursement totals, an increase in the fire suppression appropriation to bring the fund balance toward a five‑year average (an added unrestricted general fund appropriation of $74,300,000), and a $20.3 million increase to the disaster relief fund to match a five‑year average of disaster spending. He also said the CS adds contingency language that would appropriate up to $700,000,000 to the statutory budget reserve if revenues exceed a specified threshold.

On high‑level totals, Eklund told the committee, “this bill in front of you has $4,600,000,000 of UGF. Statewide items is another 4,530,000,000. The permanent fund dividend is $950,000,000 for a total of just over $6,039,000,000 of UGF.” He also presented an all‑funds total of roughly $13,990,000,000.

Committee members asked for clarifications about specific line items. Senator Stedman and others discussed increases to fire suppression and disaster funding in the context of wildfire and landslide risks; Eklund said those increases were intended to bring fund balances in line with recent multi‑year averages and to provide readiness for the coming season. Senator Kaufman asked about the fiscal treatment of a previously discussed $4,000,000,000 transfer linked to inflation‑proofing the Permanent Fund; staff said the Permanent Fund calculations they saw did not assume additional inflation proofing compounding for that transfer.

With no sustained objections, the CS was adopted and set aside; the committee set a deadline of 4 p.m. tomorrow for Finance amendments to be submitted to the chair’s office.

","The Senate Finance Committee adopted its committee substitute for House Bill 53 (operating budget) as its working document after staff outlined language and number‑section changes, including POMV appropriations and a $30 million lapsing transfer to school major maintenance.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":80,"_47":92,"_49":93,"_51":94,"_53":95,"_55":56,"_57":58,"_59":96,"_61":62,"_63":64,"_65":97,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6261056,"Senate Finance hears modeling of SJR 14 POMV amendment; analysts show short‑term tradeoffs and long‑term crossover",1689,1001000,"/Search/View?dp=1&key=3125054-fa711288a8ed79f5790573858486d848&start=1001&end=2690","https://assets.pipeline.soar.com/3125054-fa711288a8ed79f5790573858486d848/thumbnail_1001000.jpg","/articles/6261056/Alaska/Senate-Finance-hears-modeling-of-SJR-14-POMV-amendment-analysts-show-shortterm-tradeoffs-and-longterm-crossover","https://secure.pipeline.soar.com/6261056-1ce4e4347f87ab15cc8bd79a77388170/orig.mp4?Expires=1771145803&Signature=UC1rHtK9ben2z7folTPgO0YpIQWC7id~qJAIgjcCIBUmxVDRD3hV4v2rPsliYptObN8fafpkMeqFBTlPCyPZSiLnJCAQ6jxO0e6fZ9Vg4MazPVZFGgORXsDwiumgYOSjSQ3N~fqdU-Nj6NZT84bDH~ASTlbZW5LRlF1rgywMNMerVb8deiuVxc6C5ZSEv-P8oYihUBwSISja740oMHzuWlrEScmZOTaQPMvB4KPF5EiBgjguPtJRzR~LDurWPTGs0W0gnrvoH3HPgTKAYKMLGDE1IOmVhVFO3JRdix72otcT3I75FKzz2frUAYTRTFKPjYnmOg87j7IFh7U-hzhq3A__&Key-Pair-Id=KUT5TJCACFTXG","Juneau — Legislative Finance Division analysts Alexi Painter and Connor Bell presented modeling on SJR 14, a proposed constitutional amendment that would change how the Permanent Fund’s percent of market value (POMV) payout is calculated.

Painter described two modeling approaches used for the committee: a linear model that follows the Department of Revenue forecast and a probabilistic model that incorporates volatility in oil receipts and Permanent Fund investment returns. “The median cases that use these models are typically slightly lower than the linear model,” Painter said, noting the probabilistic runs use Callan’s ranges for investment returns.

The analysts tested multiple permutations the committee requested: varying the POMV draw percentage between 4.5% and 5.5%, changing the averaging period in the formula between three and seven years, and several hybrid or step‑down provisions that would change the draw rate over time. Many scenarios assume an effective date in FY 2028, when the amendment would take effect under the draft language.

Connor Bell walked the committee through the numeric results, explaining the range of uncertainty the probabilistic model produces. Bell noted the presentation shows nominal dollars only: “These are all nominal dollars. None of the figures in this presentation will be adjusted for inflation.” He illustrated that, for example, a 4.5% draw (five‑year average) produces an approximate median POMV payout of $3,600,000,000 in early years, while a 5.5% payout produces roughly $4,400,000,000 in the same year, and that a three‑year average generally increases near‑term payouts compared with a seven‑year average.

Analysts emphasized volatility and predictability tradeoffs. Adding more years to the averaging period tends to lower the effective draw rate and reduce year‑to‑year volatility, while shorter averaging increases both near‑term payouts and uncertainty. Bell said the probabilistic model runs thousands of iterations and reports percentiles of outcomes; he also stressed a simplifying assumption the analysts used: returns from year to year were treated as uncorrelated. “We’re assuming that returns from year to year are uncorrelated,” Bell said, noting that correlation or persistence in returns would change tail risks in the simulations.

Committee members asked about interpretation and limits of the modeling. Senator Kaufman raised concerns about sequence‑of‑returns risk and whether adverse returns early in the horizon were modeled differently; Painter and Bell said the trials distribute returns randomly and that correlated sequences were not modeled. Senator Stedman emphasized market‑return uncertainty and portfolio changes the Permanent Fund Corporation might undertake if draw policy changed.

Analysts also extended illustrative scenarios to FY 2052 using long‑term royalty extrapolations; under those assumptions lower draw rates can produce a larger nominal payout after roughly 25 years because the fund balance grows faster under lower withdrawals.

The committee did not take action on SJR 14 at the hearing and set the item aside for further consideration and possible follow‑up requests for additional modeling, including alternate assumptions or longer probabilistic horizons.

","Legislative Finance Division analysts presented probabilistic and linear modeling of proposed SJR 14 changes to the Permanent Fund’s percent of market value (POMV) payout. Models show higher near‑term payouts at higher draw rates but a crossover in ~25 years when lower draws can yield larger nominal payouts as the fund grows.","actionData","errors"]

Article not found

Senate Finance adopts committee substitute for HB 55 (mental health budget) with subcommittee changes

Senate Finance adopts committee substitute for HB 53 as working document; bill moves to amendment deadline

Senate Finance hears modeling of SJR 14 POMV amendment; analysts show short‑term tradeoffs and long‑term crossover