House, Senate versions of state budget match on school funding increase

The Alaska Senate rolled out its latest version of the operating budget on April 26, with a $1,300 Permanent Fund dividend, a $175 million one-time boost for public schools and a $90 million surplus to cover contingencies or if oil prices drop.

The 17-member bipartisan Senate majority caucus — unlike the House Republican-led majority — has insisted that lawmakers should not draw from state savings to balance the budget.

Following gloomy revenue projections last month, the House spending plan — with a $2,700 dividend — was projected to create a $600 million deficit, which would further balloon...