Alaska: Stedman: Let’s Protect the Permanent Fund & Guarantee a Dividend - Sen. Bert Stedman (R-Sitka) introduced a constitutional amendment yesterday for consideration in the upcoming legislative session to protect the Permanent Fund and guarantee a dividend. SJR 9 would ensure Alaskans receive a reasonable annual dividend, roughly $1,800 in the first year after voter approval, from the Permanent Fund while protecting it from overspending.

“The Permanent Fund and the dividend are critical to our future,” said Sen. Stedman. “We must ensure the fund maintains its financial health, continues to grow for future generations, and provides a fair dividend.”

SJR 9 would require the Legislature to annually appropriate 2 percent of the market value of the Permanent Fund’s 5-year average value to dividend payments for Alaskans.

SJR 9 would also allow, but not require, the Legislature to annually appropriate up to an additional 2.5 percent of the market value of the Permanent Fund’s 5-year average to either increase the dividend, make deposits back to the principal of the Permanent Fund, or to use for essential government services, depending on the financial circumstances at the time.

The most the Legislature could annually withdraw from the fund would be 4.5 percent, the same percentage that two different financial expert consultants for the Permanent Fund have said is the best level of draw to use (Callan & Associates, February 24, 2017, and Bridgewater, December 12, 2017). - More...
Tuesday PM - January 09, 2018

Alaska: Lawmakers Oppose Re-imposition of Marijuana Prohibition - Last week’s decision by the U.S. Justice Department to cease respecting states’ decisions on marijuana policy has prompted lawmakers to ask Alaskans to contribute to a response from the Alaska Legislature. 

Last year, Rep. David Guttenberg (D-Fairbanks) introduced House Joint Resolution 21that called for the federal government to respect the authority of states to regulate marijuana. In response to the U.S. Attorney General’s decision, Rep. Guttenberg and other lawmakers are asking Alaskans help to rewrite HJR 21. The public can now provide thoughts on what should be included in the new resolution on a new Facebook page titled “Alaska’s Voice on Marijuana Policy.” All respectful contributions will be included in the bill packet and considered for incorporation into the final version of the resolution.

“The U.S. Attorney General seems hell-bent on cutting Alaska’s legal marijuana industry off at the knees. The policy shift announced last week denies the will of Alaskans, who voted overwhelmingly to legalize cannabis in 2014,” said Rep. Guttenberg. “A federally imposed prohibition overriding strong local support drives good people to indirectly support criminals through the black market. Furthermore, it threatens an industry just beginning to provide real tax revenue to the State of Alaska. I want Alaskans to have their voices heard by helping us craft an official statement from the State Legislature that says ‘No’ to enforcing an antiquated federal marijuana prohibition over the will of Alaska voters.”

Last week, U.S. Attorney General Jeff Sessions rescinded a previous federal policy that advised federal prosecutors not to prosecute marijuana offenses in states where it was legalized by the voters, including Alaska. - More...
Tuesday PM - January 09, 2018

“The recent wild price fluctuations and speculation in cryptocurrency-related investments can easily tempt unsuspecting investors to rush into an investment they may not fully understand,” said Kevin Anselm, director of the Division of Banking and Securities. “Cryptocurrencies and investments tied to them are high-risk products with an unproven track record and high price volatility. Combined with a high risk of fraud, investing in cryptocurrencies is not for the faint of heart.”

Cryptocurrencies are a medium of exchange that are created and stored electronically in the blockchain, a distributed public database that keeps a permanent record of digital transactions. Current common cryptocurrencies include Bitcoin, Ethereum, and Litecoin. Unlike traditional currency, these alternatives have no physical form and typically are not backed by tangible assets. They are not insured or controlled by a central bank or other governmental authority, cannot always be exchanged for other commodities, and are subject to little or no regulation.

Unlike an initial public offering (IPO) when a company sells stocks in order to raise capital, an initial coin offering sells “tokens” in order to fund a project, usually related to the blockchain. The token likely has no value at the time of purchase. Some tokens constitute, or may be exchangeable for, a new cryptocurrency to be launched by the project, while others entitle investors to a discount, or early rights to a product or service proposed to be offered by the project.

Director Anselm went on to say, “Investors should go beyond the headlines and hype to understand the risks associated with investments in cryptocurrencies, cryptocurrency futures contracts, and other financial products that in some way link the virtual currencies to the underlying investment.” - More...
Tuesday PM - January 09, 2018

Alaska: Report Identifies Adverse Health Impacts of Climate Change - The Alaska Department of Health and Social Services’ Section of Epidemiology released a report today that outlines how the health of Alaskans could be affected by climate change. The report, “Assessment of the Potential Health Impacts of Climate Change in Alaska” highlights physical and mental health challenges that Alaskans are currently experiencing and could experience in the future due to warming temperatures and major weather events related to climate change.

“Temperatures in Alaska have warmed faster than the rest of the United States,” said Dr. Jay Butler, Alaska’s Chief Medical Officer and Division of Public Health Director. “This report is one resource for communities as they work to identify potential health problems as a result of our state’s changing climate and as they prepare to address and prevent emerging health issues.”

The report provides examples of health problems related to climate change including, but not limited to: - More...
Tuesday PM - January 09, 2018