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House Approves $1.6 Billion FY10 Supplemental Budget Bill - HB 326


$401 Million to fully repay the CBR, $1.1 billion to forward-fund K-12 education

Monday, March 29, 2010, Juneau, Alaska – The Alaska State House today unanimously passed House Bill 326, the Fiscal Year 2010 supplemental budget authorizing operating appropriations and fund transfers.  The bill appropriates a total of $1,682.6 billion dollars, of which $1,520.5 billion is in fund transfers, $5.0 million for fund capitalization, and $157.1 million for agency operations.

HB 326 authorizes two significant fund transfers: $1.1 billion to forward-fund K-12 education for Fiscal Year 2011 and $401 million to fully repay past borrowings from the Constitutional Budget Reserve Fund, or CBR. House Finance Committee Co-Chair Mike Hawker, R-Anchorage, noted “the fund transfer to the CBR is a significant accomplishment representing a concerted effort by legislators over the past three years of high oil prices to repay the debt owed to the state’s savings account.”

“The CBR is about to be made whole again,” Hawker said. “This is a truly historic achievement. The restraint in sight of significant surplus revenues is tremendous. I am proud to have been a part of the past three legislative sessions, where the finance committees in both houses have replenished $5.25 billion into the CBR, and thank the members of both bodies for supporting the transfers.”

HB 326 authorizes $157 million in agency appropriations, including $98 million in state general funds. Fund drivers are $34.3 million for Medicaid formula growth, matched by $51.9 million in federal funds; $35.4 for fire suppression activities to pay for last summer’s fire season; $10.5 million to fund the Alaska Correctional Officers Association’s interest arbitration award for FY10 and FY11; $5 million to capitalize the Disaster Relief Fund; and $4.7 million for inmate health care.

Funding for enhanced Alaska Marine Highway System ferry service along the Aleutian Chain is also included in this bill. Improving this service has been a priority for coastal communities along the Aleutian Chain and is an important commitment to that region.

HB 326 now heads to the Alaska State Senate for consideration.
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