JUNEAU, Alaska (AP) — The Alaska Senate on Monday failed to revive a bill that would pay a full dividend from the state’s oil-wealth fund this year.
Senators deadlocked 10-10 on a vote of whether to rescind their action last week, when they voted down the full payout. The next step for trying to reach agreement on a dividend remains to be seen with the end of the special session looming.
Special sessions can last 30 days. That threshold will be reached Friday.
Last week, with a prominent supporter of the proposal, Republican Sen. Mike Shower, absent, the Senate voted down a full dividend payout, which would cost an estimated $1.9 billion for checks estimated to be around $3,000 to qualified residents. The bill was one vote short of passage.
All senators were present Monday. Democratic Sen. Elvi Gray-Jackson of Anchorage, who last week voted for the bill to pay a full dividend, was among those Monday who voted against bringing the issue back up.
Republican Gov. Mike Dunleavy has maintained that lawmakers should follow a longstanding formula and pay out a full dividend. He also has said the formula should not be changed without a vote of the people. Dividends have been capped the last three years amid an ongoing budget deficit. While some lawmakers agree with Dunleavy’s position, there are legislators who argue the formula is outdated and unsustainable.
Dividends traditionally have been paid using Alaska Permanent Fund earnings, which lawmakers last year also began using to help pay for government expenses. A law passed last year also seeks to limit what can be taken from fund earnings for dividends and government.