Governor Signs Alaska’s Education Opportunity Act into Law Providing More School Funding
May 14, 2014
“Alaska’s future is brighter today as a result of Alaska’s Education Opportunity Act being signed into law,” Governor Parnell said. “I commend legislators, as well as the parents, teachers, students and administrators who made their voices heard, and for their commitment to the future of our state. Alaska’s children will benefit from more educational opportunities such as career and vocational training, a substantial increase in funding in classrooms, and increased access to charter and residential schools. Without a doubt, our work this past legislative session will ensure Alaska’s students are better prepared for life and work.” The Alaska Education Opportunity Act will increase the Base Student Allocation (BSA) by $150 million over three years, while also including $150 million in additional funding that can go toward innovation and new educational opportunities. The breakdown for the increase in the Base Student Allocation (BSA) will be a $150 increase in the first year, with a $50 a year increase each year for the two following years. Since 2004 the BSA has increased from $4,169 to $5,680 in 2011. This will be the first BSA increase since 2011. With this bill, Governor Parnell has also made efforts to better secure teachers’ pensions by paying down Alaska’s debt. As a result, $2 billion will be infused into the Teachers’ Retirement System from the Constitutional Budget Reserve Fund. Governor Parnell expressed his thanks to Representatives Lynn Gattis, Bill Stoltze and Mike Hawker, Senators Mike Dunleavy and Kevin Meyer along with the many other legislators including Senators Gary Stevens, Donny Olson, John Coghill and Representatives Pete Higgins, Ben Nageak, Dan Saddler, Mark Neuman, and Chris Tuck whose concepts were included in Alaska’s Education Opportunity Act.
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