Reserves, dividends would be gone in 10 years without action, lawmakers told

David Teal, fiscal analyst for the Alaska Legislature, runs through various budget models related to House Bill 115 for the House Finance Committee on Wednesday. HB 115 creates a state income tax, draws money from the Permanent Fund for the state budget and introduces a new formula for setting the amount of the Permanent Fund dividend. (Photo by Skip Gray/360 North)Alaska’s budget reserves could be gone in 10 years if the state government doesn’t take action to balance its budget, th