Dividend tax proposed as stopgap measure, legislator says
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JUNEAU, Alaska (AP) – Alaskans who receive an Alaska Permanent Fund dividend would pay a 35 percent tax on it under legislation proposed in the state House.
Rep. Kurt Olson says the bill is meant as a fallback if legislators fail to reach agreement on a plan to turn the permanent fund into an endowment of sorts. Olson is chairman of the House Labor and Commerce Committee, which introduced the bill Monday. He says that a 35 percent tax on last year's dividend would have generated about $467 million.
The state faces a multibillion-dollar budget deficit amid low oil prices. Legislators are m...
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