Permanent fund restructure, income tax combo gets first hearing in Alaska House

Lawmakers are looking to the permanent fund as a long-term solution to Alaska’s $3 billion budget shortfall. But they have different opinions on how to use it. Three proposals are up for debate.The newest one is House Bill 115, which got a first hearing in the House Finance Committee Monday. The hybrid bill, backed by the House majority, combines a state income tax with annual use of the permanent fund’s earnings. 
The measure proposes an annual draw of 4.75 percent of the marke