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Alaska lawmakers challenge $50M private equity move from state savings fund, citing lack of transparency and fiscal risk.
Alaska lawmakers are questioning a $50 million private equity investment drawn from the state’s savings fund, expressing concern it undermines the purpose of preserving emergency reserves.
Senate President Gary Stevens, R-Kodiak, said the move risks tying up critical funds and may not align with fiscal responsibility, prompting plans for hearings to review the investment’s oversight and risks.
The decision, made under Governor Mike Dunleavy’s administration, lacks transparency, with no details disclosed about the firm or expected returns.
Lawmakers are demanding greater accountability in how state savings are used.
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Los legisladores de Alaska desafían un movimiento de capital privado de 50 millones de dólares del fondo de ahorro estatal, citando la falta de transparencia y el riesgo fiscal.