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Alaska Republican Gov. Mike Dunleavy unveiled a budget plan Thursday that would pay residents an oil-wealth dividend of about $3,400 next year using a formula that lawmakers have all but abandoned ...
The Senate-advanced proposal this year called for designating 75% of oil fund earnings' draws to government and 25% to dividend checks, and bumping that to a 50/50 split if Alaska generated an ...
Alaska's Permanent Fund, once funded by oil extraction, is now funded through investment returns, allowing it to disperse checks to Alaska residents. The US is considering a sovereign wealth fund.
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. From February ...
In 2005, every eligible Alaskan resident (including children) received a check for $845.76. Over the 24-year history of the fund, it has paid out a total of $24,775.45 to every resident. [5] Some believe this dividend as the reason why Alaska has one of the lowest rates of inequality and relatively low levels of poverty compared to other US states.
The act granting statehood gave Alaska the right to select 103 million acres (42 million ha) for use as an economic and tax base. [13] In 1966, Alaska Natives protested a federal oil and gas lease sale of lands on the North Slope claimed by Natives. Late that year, Secretary of the interior Stewart Udall ordered the lease sale suspended ...
Checks from Alaska's oil-wealth fund will begin going out to residents three months early, Gov. Mike Dunleavy said, citing economic hardships caused by the coronavirus. ... This year's check is ...
The oil depletion allowance in American (US) tax law is a tax break claimable by anyone with an economic interest in a mineral deposit or standing timber. [citation needed] The principle is that the asset is a capital investment that is a wasting asset, and therefore depreciation can reasonably be offset (effectively as a capital loss) against income.