Plan also includes $650M of income tax revenues: 15% of federal liability
Long-term fund growth rate of 2.9%
SB26 - Governor's Plan
5.25% POMV for 3 years, then reduced to 5%
Dividend fixed at $1000 for 3 years, then 25% of draw
Draw reduced if oil revenue above $1.2B
$4.1B spending limit
Plan also targets $750M in cuts over 3 years (not in bill)
Long-term fund growth rate of 2.6%
SB21 - Sen. Bert Stedman
4.5% POMV
Dividend at least 50% of draw
Long-term fund growth rate of 2.9%
Status Quo
Deficit draws from savings in the Constitutional Budget Reserve, which runs dry mid-2019. Subsequent unstructured spending of Permanent Fund jeopardizes fund and dividend program.