Gov. Mike Dunleavy outlined proposed legislation Thursday for Alaska to capitalize on carbon markets, seeking to diversify state revenues long heavily reliant on proceeds from oil, AP reports.
Dunleavy plans to introduce his so-called a carbon management bill package during the legislative session that begins next week.
The Republican governor and members of his administration outlined the proposal at a news conference in Anchorage. Dunleavy said in a statement that he wants lawmakers to seriously consider it as a “cornerstone of a long-term fiscal solution” that would complement revenue from oil and gas and Alaska’s nest-egg investment fund, the Alaska Permanent Fund. The state has relied heavily on oil revenue and earnings from the permanent fund to help pay for state government.
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