Senate committee proposes restoring full school debt repayment
April 27, 2022
The borough could receive about $300,000 under a Senate Finance Committee plan to pay back municipalities across Alaska for years of short-funding of the state’s share of local school construction bond debt.
The committee version of the state budget includes $221 million to pay back municipalities for incomplete state reimbursement payments going back five years.
Years of low oil prices and large state budget deficits prompted governors to short-fund the reimbursements, with legislators lacking enough votes to override budget vetoes. This year’s $100-plus oil prices are swelling the sta...