M/V Tazlina Christened

Author: Bert Stedman

First AMHS Vessel built in Alaska

On Saturday, August 11, 2018, it was a historic day for Alaska as Alaskans from near and far assembled at the Ketchikan Vigor Alaska Shipyard to celebrate the christening of the first Alaska Marine Highway System (AMHS) vessel built in Alaska.

Senator Stedman speaking at the M/V Tazlina christening. Photo Credits – Office of the Governor

Our First Lady Donna Walker formally christened the M/V Tazlina in accordance to and in recognition of our maritime traditions and customs. It was a powerful moment that simultaneously recognized the essential role AMHS plays for the whole state and acknowledged the craftmanship, dedication, and professionalism of the welders, electricians, painters, laborers, and project managers responsible for her construction.

The M/V Tazlina is a beautiful, stout, well-built skookum vessel. I look forward to her joining the fleet and wish fair winds and following seas for all who sail on her.

August 14th, 2018  |  Posted in News & Comment  |  No Comments »

Elks Association Honors Mike Luhr as “Grand Exalted Ruler”

Author: Bert Stedman

On July 4, 2018 the Benevolent and Protective Order of Elks (The Elks) will be celebrating their 150^th anniversary in San Antonio, Texas. In addition to the celebration the Elks honored and installed Petersburg resident Michael Luhr as the Grand Exalted Ruler of the Benevolent and Protective Order of Elks of the United States of America. This is the highest honor you can receive as a member of the Elks and it is the first time a member of the state of Alaska has received such an honor. Alaskans have cause to celebrate a very special honor given to one of our fellow Alaskans.

As Senator of District R, I would like to congratulate Michael on being installed as the Grand Exalted Ruler of the Benevolent and Protective Order of Elks. We should all be very proud of Mike’s accomplishments as he has spent over 40 years as an active member of the Elks. During this time, Mike has unselfishly spent thousands of hours of his time to volunteer for the benefit of others and his community as well as performing administrative work and responsibilities. Mike has proven himself worthy of every position he has held in the Elks (President of Petersburg Elks, President of Alaska State Elks Association, etc.).

The Benevolent and Protective Order of Elks was established in 1868. Today, they have nearly 1 million members with over 1,800 lodges throughout the country. Alaska has over 5,600 members with 15 lodges statewide. The Elks are known nationwide for their direct involvement with charity programs as well as contributing to community needs and events.

A great example of hard work and giving back to your community, state, and now nation. The Elks could not have found a better person to be their Grand Exalted Ruler. Congratulations Mike!

Michael Luhr, Grand Exalted Ruler of the Benevolent and Protective Order of Elks

July 5th, 2018  |  Posted in News & Comment  |  No Comments »

Appointment to National Petroleum Council

Author: Bert Stedman

I recently accepted an appointment to the National Petroleum Council (NPC) for a term expiring on December 31, 2019.  The NPC is an advisory board to the Secretary of Energy regarding oil and natural gas issues.  Click here to see the press release from the Senate Majority.

You can also read about my previous years of service on the National Petroleum Council here and here.

June 28th, 2018  |  Posted in News & Comment  |  No Comments »

It Is Time to Constitutionally Protect All of Your Permanent Fund

Author: Bert Stedman

For the last three decades, I’ve been an advocate of converting the Permanent Fund to an endowment type structure. This structure will provide a predictable and permanent source of funding dividends and state services when needed.

The full balance of the Permanent Fund needs to be Constitutionally Protected. We’ve reached a point in Alaska, because of current economic conditions, that the Permanent Fund earnings are needed for essential state services.

If the Legislature goes down the road of drawing from the Permanent Fund earnings on an unstructured, ad-hoc basis, the value of the fund will rapidly deteriorate. The Earning Reserve Account (ERA), made up of portfolio gains/losses + dividends, is by its very nature volatile and subject to market and economic swings. Market conditions and annual ad-hoc draws will deplete the ERA balance. This will lead to the elimination of dividends and our inability to have a balanced budget without massive borrowing. The law needs to change to protect the Permanent Fund for the future of Alaskans. We need a structured system of spinning off earnings from the total fund, to pay dividends and provide necessary state services while limiting the draw rate from the total fund.

I have introduced Senate Joint Resolution 9, (SJR 9). It would merge the ERA into the principal of the fund and therefore constitutionally protect the entire fund from Legislative appropriations. It would limit the payout to a maximum of 4.5% of the Permanent Fund’s 5-year average balance. This would block all spending from the Permanent Fund above the 4.5%. A payout of 4.5% could have a minimum dividend component of roughly 50%. In other words, the state needs financial help from the Permanent Fund and the people deserve to keep an annual dividend.

To view my presentation of  SJR 9, please see the link below:

http://www.akleg.gov/basis/get_documents.asp?session=30&docid=55631

May 15th, 2018  |  Posted in News & Comment  |  No Comments »