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Capitol Report March 18, 2024

March 21, 2024

Lawmaker’s Hit Day 60, Focus on Budget and Education Legislation

Last week, while the ̽»¨¾«Ñ¡ had spring break, the Legislature remained in session. Lawmakers focused on the budget, receiving new economic outlooks, and taking public testimony. The Legislature also revisited several education bills.

Budget

Last Monday, the House Finance Committee introduced a revised operating budget. The updated budget incorporated changes made in House Finance subcommittees, including the addition of $6.1 million in Unrestricted General Funds (UGF) for UA for compensation, and another $3.9 million in UGF for projected increases to property insurance, cyber security, and maintenance.

Separately, The Department of Revenue released a new spring revenue forecast last week. Agency representatives indicated that with slightly increased oil prices, the state is likely to gain ~ $58 million in FY 24, ending June 30, and an additional $140 million in FY 25, starting July 1. However, some of that money—roughly $28 million—is already reserved for a one-time energy relief payment included with this year’s permanent fund dividend payment to Alaska residents. 

Priority Legislation

In addition to the omnibus education funding package, lawmakers revisited several other education bills. The House Education Committee sprang back to life with consideration of House Bill 55 allocating funds to Technical and Vocational Education Programs (TVEP). The Committee passed a bill substitute that increased overall TVEP funding from .16% of unemployment insurance to .25%, effectively increasing the total yearly funds from ~ $14 million to over $20 million. 

Last Thursday, Senate Finance heard , which increases the Alaska Performance Scholarship award. The Committee heard from the Alaska Commission on Postsecondary Education and Dr. Paul Layer, UA Vice President of Academics and Research, on the bill's benefits. Highlights include increasing enrollment and retaining Alaskan students after graduation.

Regent Confirmation Hearings

This last year, Governor Dunleavy appointed two new regents, Stephen Colligan and Seth Church, to the ̽»¨¾«Ñ¡ Board of Regents. Regent appointees Colligan and Church are subject to approval by the Legislature. This week, the House and Senate Education committees are hosting hearings with both regent-appointees to learn more about their backgrounds and vision for the future of UA.

Read the full Capitol report .

For more information, contact Director of State Relations for the ̽»¨¾«Ñ¡ System Chad Hutchison: cell: 907-378-3946, email: clhutchison@alaska.edu.