JUNEAU, Alaska – The Latest on a bill limiting oil fund wealth checks failing to pass out of an Alaska House committee Friday (all times local):

1 p.m.

A compromise bill calling for limited Alaska Permanent Fund dividend checks to counter the state’s multibillion-dollar fiscal shortfall has failed to pass out of the House Finance Committee.

A deeply divided committee voted 5-6 Friday to move the bill to a full vote on the House floor as the special session winds down.

The new version of the bill rejected by the 11-member committee called for limiting dividend payouts to $1,500 for residents this year and next. The previous version, which passed the Senate, limits distributions to $1,000 the next three years.

Rep. Tammie Wilson echoed what many of the other no votes expressed, that she couldn’t support the legislation with a lack of buy-in from her constituents.

The vote was taken after committee members noted Gov. Bill Walker has indicated the likelihood of calling for another special session following the current one, which ends Tuesday.

A spokeswoman for Walker did not immediately respond to requests for comment Friday.

7:30 a.m.

A compromise bill to use Alaska Permanent Fund earnings to help stem the state’s multibillion-dollar deficit has failed to make it out of the House Finance Committee.

The committee’s co-chairman, Rep. Steve Thompson, said legislators were one vote short of the six votes needed Thursday to advance the bill to the House floor. The committee is expected to try again Friday, The Juneau Empire reported (http://bit.ly/1tzZFrp).

The 11-member finance committee voted on a new version of the bill that calls for limiting dividend payouts to $1,500 for residents this year and next. The previous version, which passed the Senate, limits distributions to $1,000 the next three years.

The measure is the centerpiece of Gov. Bill Walker’s fiscal plan and would roughly halve Alaska’s more than $3 billion deficit.

The state is expected to run out of saving by 2022 if the deficit is not cut down in the next few years. The impact could result in an end to the dividend program within five years and force the state to impose harsh budget cuts or steep tax hikes.

The Alaska Legislature’s special session ends Tuesday.

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Information from: Juneau (Alaska) Empire, http://www.juneauempire.com