Concerns raised about one-time PFD payout in House committee [Video]

ANCHORAGE, Alaska (KTUU) – A lawmaker’s proposal to help preserve the Permanent Fund dividend for future generations received pushback on Friday at the Alaska State Capitol.

Rep. Mike Cronk, R-Tok/Northway, has a proposal that would give residents the option to receive a $15,000 dividend check, and $5,000 in land credit, in exchange for forgoing all future payouts.

“I am sorry to say this is a poorly thought out bill that needs to be sent back to the drawing board and does not need to waste any more of this committee’s time,” Deltana resident James Squyres said during a House Resources Committee meeting.

Squyres said he is concerned the proposal could quickly diminish the PFD if more people than anticipated opted for the one-time payout.

“If it turns out to be a run on the bank, so to speak, the ability of the Permanent Fund to produce income on the remaining …