Juneau -- The Alaska House and the Alaska Senate Tuesday each gave final passage to the Supplemental Budget Bill. The Conference Committee Substitute for House Bill 100 brings in the Supplemental Budget approximately $2.9 million below the Legislature's target set last year before the dramatic decline in the price of oil. The bill makes a corresponding $200 million increase in the Legislative cap on withdrawals from the Constitutional Budget Reserve.

"With the passage of this Supplemental Budget, the Legislature has made good on the Republican-led Majority's commitment to reduce spending and to solve the State's immediate cash-flow crunch brought on by low oil prices and decreased production," said Senator Sean Parnell (R-Anchorage), Co-Chair of the Senate Finance Committee. "This bill brings us in well below our spending target and, with the increase in the CBR cap, permits the State to keep paying its bills without having to write a blank check for the remainder of the year."

"This Conference Committee version of the Supplemental Budget leaves intact the Republican-led Majority's commitment to care for our fellow Alaskans," said Representative Eldon Mulder (R-Anchorage), Co-Chair of the House Finance Committee. "The Conference Committee bill appropriates the full $8 million dollars the House had originally earmarked to help our neighbors in western Alaska who were impacted by last year's fisheries disaster. The Finance Committees will shortly consider another $1.6 million requested by the Governor for capital projects in western Alaska."

Highlights of the Conference CS for House Bill 100 include:

• $200 million increase in the CBR draw;
• $8 million for fisheries disaster relief for western Alaska;
• $1.05 million for Power Cost Equalization (PCE);
• $235.7 thousand for snowplowing to open rural highways;
• $235 thousand for maintenance of the Harborview facility in Valdez.

The Supplemental Budget now goes to the Governor for signature.