04/19/2024 | News release | Distributed by Public on 04/19/2024 14:34
April 19, 2024
The Senate unveils their initial changes to the operating budget while the House begins review of the capital budget.
Budget
After a seamless budget swap last Friday, the House and Senate are reviewing the opposite bodies' budgets. The House Finance Committee is reviewing the Senate's capital budget while the Senate Finance Committee has already unveiled its own committee substitute for the operating budget. Notably, the new version provides full UGF funding for the university system's fixed cost increases. These fixed costs include increases for cyber security, property insurance premiums, and maintenance. Simultaneously, the Senate Finance Committee removed $20 million in funding for reaching R1 research status at UAF, $3 million for teacher preparation and healthcare pilot programs at UAA, and $1.2 million for campus security improvements. The Senate will consider member amendments to the operating budget early next week. Once the bill leaves the Finance Committee, it will be considered by the entire Senate on the chamber floor. Senators may offer additional amendments during that time. A six-person conference committee will ultimately decide any differences between the final House and Senate operating budgets.
Priority Legislation
Extending Alaska's Education Tax Credits Program - The Alaska Education Tax Credit (ETC) program was established by the Legislature in 1987 to encourage private businesses to make charitable contributions to support in-state educational institutions. In return, these businesses receive credits to offset their taxes. The ETC program must be renewed by the legislature every few years. Without a renewal or extension, the program is currently set to sunset on January 1, 2025. Several bills are moving through the Legislature to either extend or remove the sunset requirement entirely:
What We're Watching
Monday, April 22
Tuesday, April 23
Wednesday, April 24
For more information, contact Director of State Relations for the University of Alaska System Chad Hutchison: cell: 907-378-3946, email: [email protected].