Friday, February 10 the House Finance Committee introduced a proposed fiscal plan, HB 115. Before going in to session, Speaker Bryce Edgmon and House Finance Committee Co-Chairs Paul Seaton and Neal Foster met with reporters to discuss the bill.
Wednesday, June 29 Governor Walker held a press conference and released his FY17 budget vetoes. The governor made significant vetoes to the budgets, including to the BSA and bond debt reimbursement.
Governor Walker also said the university was cut by $10 million, oil and gas tax credits were cut by $430 million, and dividends were reduced so that they will be $1,000 this year. The total amount vetoed was $1.29 billion.
Rep. Gattis has been in the news lately saying she plans to introduce legislation to close schools with fewer than 25 students, an issue that Sen. Dunleavy brought up last session. So I went down to the Capitol Building Tuesday and talked to a few legislators, and I think I've got the skinny on whether or not the legislature will pass legislation to close schools with fewer than 25 students. I talked to Sens. Stedman and Bishop, and Reps. Nagiak and Talerico, all majority members.
Early Wednesday morning, October 28, Attorney General Craig Richards held a briefing on the underpinnings of a fiscal plan that the administration will soon propose. Later in the day the information was publicly released during a luncheon presentation to legislators.
Yes, it's the 130th day of session so far in 2015, and still no one knows what's going to happen. I will explain the situation from the VERY beginning.
There is about a $3 billion revenue shortfall. The legislature needs a three-fourths vote in each body to use money in the constitutional budget reserve to cover the shortfall. They only need a majority vote in each body to use the funding in the permanent fund earnings reserve.