Financial Responsibility Amendments Chapters 75 FAQs
Questions from the public have been gathered along with the department’s responses. Substantially similar questions have been aggregated.
Click/tap the question below to see the answer:
- Why are the financial responsibility amounts being changed?
- AS 46.04.045, enacted in 1990, requires the dollar amount be reviewed and adjusted every three years.
- How are the dollar amounts calculated?
- The dollar amounts required by AS 46.04.040 and AS 46.04.055 are adjusted based on the percentage change in the Urban Alaska Consumer Price Index (CPI). The CPI has increased by 4.5% since dollar amounts were last updated in 2017.
- Why did the name of the index change from Anchorage Alaska to Urban Alaska?
- In 2018, the Bureau of Labor Statistics introduced a new geographic areas sample for the Consumer Price Index (CPI). In the past the geographic area for Alaska was referred to as Anchorage, AK, now it is called Urban Alaska.
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