Gov. Bill Walker signs Senate Bill 26 into law

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FAIRBANKS, Alaska - Alaska Governor Bill Walker officially signed into law today Senate Bill 26, which allows Permanent Fund earnings to be used to lower the state spending gap.
That deficit is expected to drop around 80 percent - but oil prices will ultimately determine the size of the gap.
Ahead of the governor's signature, the Standard & Poor's Global Ratings announced that SB 26 will upgrade the State's debt outlook from negative to stable.
With the passage of SB 26, locals expect a 16 hundred dollar PFD, an increase of over 500 hundred dollars from last year.
Fairbanks Economic Development Corporation CEO Jim Dodson spoke on what the new rating from S&P means for the State.
"What we saw with Standard and Poor's upping our bond rating is simply a recognition that we have finally figured out a way to contribute to supporting our government, which is absolutely necessary to continue to do business in Alaska," said Jim Dodson, CEO.
Walker also signed the state spending bills into law.
Walker didn't approve everything, however... line-item vetoing funds for a bridge project, and a Vitamin D deficiency study.
The new fiscal year starts July 1.