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The Alaska Permanent Fund (APF) is a constitutionally established permanent fund managed by a state-owned corporation, the Alaska Permanent Fund Corporation (APFC). [1] It was established in Alaska in 1976 [ 2 ] by Article 9, Section 15 of the Alaska State Constitution [ 3 ] under Governor Jay Hammond and Attorney General Avrum Gross .
The Alaska Permanent Fund, which distributes money to Alaska residents annually, could be a model. Challenges include funding sources, legislative hurdles, and state-owned natural resources.
Put simply, a permanent fund may be used to generate and disburse money to those entitled to receive payments by qualification or agreement, as in the case of Alaska citizens or residents that satisfy the rules for payment from their permanent fund from State oil revenues. It was first introduced through GASB Statement 34. The name of the fund ...
The Alaska Permanent Fund is a legislatively controlled appropriation established in 1976 to manage a surplus in state petroleum revenues from the recently constructed Trans-Alaska Pipeline System. From its initial principal of $734,000, the fund has grown to $40 billion as a result of oil royalties and capital investment programs. [27]
The Alaska Permanent Fund distributes a share in the state's wealth derived from royalty income from oil produced on state-owned land and oil reserves to each individual in the form of a dividend payment on the basis of citizenship. [22] In the People's Republic of China regional social dividend-type systems are in place.
Download as PDF; Printable version; ... The following is a list of events of the year 2024 in Alaska. Incumbents ... This page was last edited on 8 October 2024, ...
The Alaska Permanent Fund is a state-owned investment fund established in 1976 to invest surplus revenue from Alaska's oil and gas reserves. The PFD is an annual payout from the fund's earnings to eligible Alaska residents. During Governor Bill Walker's administration, the payments were reduced through the legislative budget process. [69]
Under Governor Miller, Alaska completed the sale of land leases in Prudhoe Bay, which brought a windfall of $900 million. [8] The funds from the oil leases were seven times the state’s budget and seven years after he first proposed an investment fund for oil royalties, Governor Jay Hammond established the Alaska Permanent Fund. [9] [10]