The Latest: Tentative deal struck on Alaska budget

JUNEAU, Alaska – The Latest on the extended Alaska legislative session (all times local):

3:45 p.m.

Tentative agreement has been reached on a state operating budget. This moves Alaska legislators one step closer toward adjournment.

A conference committee Thursday reached agreement on the last budget items in dispute between the House and Senate. The bill now goes to the full House and Senate for consideration.

Legislative leaders hope to complete their work soon. The Legislature has been meeting in extended session after blowing past the 90-day, voter approved deadline in mid-April.

The constitution permits regular sessions of up to 121 days. That limit would be hit Wednesday.

Other remaining items in this session include the state capital budget and a bill that would allow for bonding to pay off the state’s remaining oil and gas tax credit obligations.

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12:10 p.m.

Alaska House and Senate negotiators are nearing agreement on a state operating budget.

A conference committee finalized most items that were still in dispute during a meeting Thursday morning. That includes settling on an additional $10 million for the University of Alaska system and additional public safety and law enforcement positions.

The House initially proposed a $19 million increase for the university system above what Gov. Bill Walker proposed, while the Senate initially proposed a $5.5 million increase.

Committee leaders hope to reach agreement on the remaining items later in the day.

Whatever is agreed upon will be sent to the full House and Senate for consideration.

The operating budget is one of the last major items remaining in the extended legislative session, which lawmakers are hoping to end soon.