Senate approves ‘fast-track’ budget

JUNEAU – Today, the Alaska Senate passed a “fast-track” supplemental budget totaling $110.2 million in funding for urgent and unanticipated state expenses.

“The fast-track supplemental budget is a good-faith effort between the House and Senate to fund the items we broadly agree on,” said Sen. Lyman Hoffman (D-Bethel) co-chair of the Senate Finance Committee. “As we continue progress toward solving the state’s fiscal problem, it’s important to pay our bills.”

The supplemental budget includes $45 million to fund Medicaid through mid-May, $30 million for Community Assistance, $18.3 million to pay for an unanticipated increase in the prison population and growing inmate healthcare costs, and $24 million for the Alaska Marine Highway System.

The bill also deposits an additional $25 million into savings realized from the state’s successful re-insurance program, and $5 million was appropriated to the Alaska Permanent Fund Corporation to cover fees related to higher than expected fund earnings.

Of the $110.2 million appropriated in HB 321, $91.9 are Unrestricted General Funds (UGF), $5.1 are Designated General Funds (DGF), and $13.1 are Other Funds.

HB 321 passed the Senate by a vote of 16 to 1.

The bill is now on its way to the governor’s desk to be signed into law.