During today’s session, I introduced House Bill 312.  House Bill 312 places an advisory vote on either the primary or general election ballot the question of using permanent fund earnings, after dividends are paid and the fund is inflation proofed, to help offset the costs of an in-state natural gas pipeline.

I view this option as a potential piece of the puzzle in putting together a financing plan for possible state participation in an in-state gasline.  With all the discussion of energy needs throughout the state, it is time that the Legislature and the Administration begin to focus on one or two viable projects.  It is my hope that we can focus state funding on one or two of these projects rather than taking a shotgun approach and partially fund a large number of concepts that may or may not bear fruition in the future.  Providing natural gas to Alaskans first will be a huge first step in creating jobs, providing a long term source of energy and create economic opportunities. 

This bill was drafted to ensure that dividends are paid and the Permanent Fund is inflation proofed prior to the use of earnings.  That part of the question needs to be particularly emphasized.  I do not want Alaskans to believe or think that this advisory vote is a raid on the earnings of the Permanent Fund.  A positive vote would allow the state to use earnings from the Permanent Fund which was initially developed from resource development within the state.  I believe that future generations of Alaskans will benefit from making an energy investment now while still keeping their benefits from the Permanent Fund.

I hope you will find the time to review this legislation.  If you have any questions or need further information on this bill, please don’t hesitate to contact me.