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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.
This fund translates Alaska's natural resource revenues into annual dividends distributed to eligible Alaskan residents (Administered by the DOR through the Permanent Fund Dividend Division). This collaboration is designed to streamline the application process, ensuring efficient, timely distributions that reflect the State of Alaska’s ...
1975 photo of Jay Hammond, the former governor of Alaska who is regarded as "the man behind" the foundation of the Permanent Fund of Alaska. The Alaska Permanent Fund is often mentioned as one of the few existing basic income systems in the world. Since 1982, the Fund has paid a partial basic income to all (permanent) residents averaging ...
Alaska: Alaska Permanent Fund: 74.455 December 2022 [3] Petroleum: 2 Texas: Permanent School Fund: 55.624 August 2022 [4] Commodity / petroleum: 3 Permanent University Fund: 31.763 August 2022 [5] 4 New Mexico: New Mexico State Investment Council Permanent Funds 31.000 December 2020 [6] Petroleum: 5 Wyoming: Wyoming Permanent/Endowment Funds 12 ...
Alaska's Permanent Fund, once funded by oil extraction, is now funded through investment returns, allowing it to disperse checks to Alaska residents.
The Alaska Permanent Fund is a $65 billion fund managed by a state-owned corporation and fueled by oil and gas revenues. Current governor Bill Walker lost popularity for his decision to cut the ...
Mar. 26—As the Alaska Permanent Fund has become the financial centerpiece of the state budget, its management has attracted warranted scrutiny. There's a big difference, after all, between a ...
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]