Alaska Permanent Fund

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The Alaska Permanent Fund ( APF ) is a state-run fund that manages the profits from local Alaskan oil production . The APF was established in 1976 through a referendum .

The government had previously been accused of spending too quickly the revenues from the oil business. From 1970 the oil economist Arlon Tussing advocated the establishment of such a fund. The future governor Jay Hammond was inspired by Tussing for this measure.

Since then, 25% of the state's raw material income has flowed into the fund. Since 1982, half of the annual profit has been distributed directly to the residents of Alaska via a dividend . Payment is made upon request.

In 1978, the capital stock was US $ 55 million  and grew to over US $ 59 billion by 2017. In 2017, the dividend paid out was US $ 1,100.

dividend

To be a beneficiary of the dividend, the applicant must not only have established his permanent residence in Alaska for a period of at least 12 months and intend to continue this, but usually also hold American citizenship . There are also other exclusion criteria for entitlement. The income is taxable income . They are subject to attachment and with limitations transferable .

The annual payment is recalculated every year and depends on the profits of the last five years and the number of beneficiaries for the corresponding year. Since the APF was founded, a total of US $ 20.1 billion has been distributed to the residents of Alaska, and in 2012 a check was written to approximately 650,000 of Alaska's 710,000 residents.

Since 2008 there has been the option of donating a portion of the requested dividend directly to a non-profit organization via the “Pick.Click.Give.” Program . Around 4.5% of applicants took advantage of this offer in 2017 and donated around 10% of their dividends on average.

In the years from 1998 to 2018, the distribution was as follows:

In 2008, due to a change in the law under Governor Sarah Palin, the amount actually paid increased once by 1,200 to 3,269 US dollars.

In 2016, Governor Bill Walker vetoed the dividend from $ 2,052 to $ 1,022.

Web links

Individual evidence

  1. ↑ FREQUENTLY ASKED QUESTIONS . Retrieved November 22, 2018 from apfc.org
  2. ^ Dermot Cole: Maverick economist Arlon Tussing shaped Alaska energy policy. (No longer available online.) Adn.com, July 7, 2016, archived from the original on November 12, 2018 ; accessed on November 22, 2018 .
  3. ^ A b Eric Christopher Adams: By the numbers: Alaska Permanent Fund Dividend. (No longer available online.) Adn.com, September 18, 2012, archived from the original on February 25, 2015 ; accessed on November 22, 2018 .
  4. ↑ OUR PERFORMANCE . Retrieved November 22, 2018 from apfc.org
  5. ↑ a b Historical Timeline . 2018 at pfd.alaska.gov, accessed November 22, 2018
  6. ↑ Alien Status and Eligibility for the PFD . 2018 at pfd.alaska.gov, accessed November 22, 2018
  7. ↑ Mark Heywinkel: In October every inhabitant of Alaska gets $ 2,072 for free . On September 28, 2015 on ze.tt, accessed on November 22, 2018
  8. ^ Deductions . 2018 at pfd.alaska.gov, accessed November 22, 2018
  9. ↑ THE PERMANENT FUND DIVIDEND. (No longer available online.) Apfc.org, 2017, archived from the original on June 9, 2017 ; accessed on November 22, 2018 .
  10. ↑ About Pick.Click.Give. . From pickclickgive.org, accessed November 22, 2018
  11. ^ Sofia Fouquet: Alaskans May Be More Generous in Times of Economic Hardship . On March 14, 2018 from akbizmag.com, accessed on November 22, 2018
  12. ↑ Summary of Dividend Applications & Payments . 2018 at pfd.alaska.gov, accessed November 22, 2018
  13. ↑ Bill Text 25th Legislature - Senate Bill No. 4002 . 2014 at legis.state.ak.us, accessed November 22, 2018
  14. ↑ Nathaniel Herz: Gov. Walker's veto cuts Alaska Permanent Fund dividends to $ 1,022. (No longer available online.) Adn.com, September 23, 2016, archived from the original on September 24, 2016 ; accessed on November 22, 2018 .