Alaska budget negotiators announce tentative deal as legislative session nears deadline

JUNEAU, Alaska (AP) — Alaska budget negotiators announced a tentative agreement Tuesday that includes direct payments to residents this year of about $1,655, winding down a budget process that lacked the acrimony of prior years.

Lawmakers face a Wednesday deadline to complete their work, with floor dockets packed with bills. But the atmosphere around the budget conference committee of House and Senate negotiators was bright and upbeat Tuesday morning — in contrast with prior years, when the size of the yearly dividend paid to residents was a major point of contention. This year’s legislative session has been marked by tension around education and energy issues, which remained in play.

The tentative budget deal calls for a roughly $1,360 dividend to residents this year, plus an energy relief payment of $295. Dividends are traditionally paid with earnings from the Alaska Permanent Fund, a state nest-egg seeded with oil money and grown over time through investments. People must meet residency requirements to be eligible for dividends.

The payments are similar to what the Senate proposed in its version of the budget earlier this month, though the energy relief payment is slightly higher. The House version of the budget proposed checks of about $2,275 a person, including a dividend of roughly $1,650, plus energy relief payments of about $625. The conference committee was tasked with hashing out differences between the two proposals.

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