3/20/2020 Alaska COVID-19 Economic Stabilization Plan Office of Governor Mike Dunleavy March 20, 2020

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Governor Dunleavy's Economic Stabilization Plan

Alaska COVID-19 Economic Stabilization Plan Office of Governor Mike Dunleavy March 20, 2020 

In response to the COVID-19 pandemic, I am focusing on six areas to provide stability to the economy and ensure Alaskans have the resources needed during this unprecedented time.

1. Immediate Relief for Alaskans

a. COVID-19 Emergency Permanent Fund Dividend (PFD) - $815 million (Dependent Upon Legislative Action) 

                           i. Immediate appropriation and release of the unfunded 2019 PFD
       b. Full Statutory 2020 PFD (Dependent Upon Legislative Action)
                           i. Issued in two payments of ~$1,550 in June & October

       c. Emergency unemployment benefits (Dependent Upon Legislative Action) 

       d. Alaska Housing Finance Corporation mortgage relief 

       e. Student loan interest waiver - $2.3 million (Dependent Upon Legislative Action) 

       f. Reduction/suspension of fees across selected state agencies 

2. Alaska Businesses 

      a. Establish the Alaska COVID-19 Emergency Business Loan Program

                          i. Provide 100% state-guaranteed loans to Alaskan businesses for immediate relief. 

                          ii. Loan program will be administered by local banks and structured to meet Alaska’s                                unique needs. 

     b. State Training Employment Program (STEP) - $2 million (Dependent Upon Legislative Action) 

3. COVID-19 Emergency Healthcare Enhancements 

       a. Alaska COVID-19 Healthcare Fund - $75 million 

                          i. Emergency response/isolation shelters 

                          ii. Additional medical personnel 

                          iii. Critical supplies, test kits, ventilators, & protective gear

       b. Expand telehealth services 

4. Municipalities a. Emergency Community Lost Revenue Replacement Program 

                          i. Replace lost revenue due to negative economic impacts associated with 

                             COVID-19 

5. School Districts 

       a. Statewide virtual schools - $518,000 (Dependent Upon Legislative Action) 

       b. School nutrition - $3 million (Dependent Upon Legislative Action) 

       c. Distance delivery education - $500,000 (Dependent Upon Legislative Action) 

       d. Student laptop & digital content - $1 million (Dependent Upon Legislative Action) 

6. State Workforce 

       a. Retrofit state offices to protect against the spread of COVID-19 

       b. Telecommuting options for state employees