Alaska Permanent Fund hits record $85 billion, even as Alaskans see smaller dividends

By
Suzanne Downing
-
92

The Alaska Permanent Fund has reached a historic milestone, surpassing $85 billion for the first time in its more than 45-year history, a remarkable achievement that highlights the state’s unique approach to managing its oil wealth.

Established in 1976 by a voter-approved constitutional amendment, the Alaska Permanent Fund was designed to convert a portion of the state’s oil royalties into a permanent endowment, with earnings distributed annually to residents as dividends. Over the decades, the fund has grown steadily, benefiting from investment returns and ongoing contributions from oil revenues. Today, the fund underpins a larger share of Alaska’s government budget than oil royalties themselves, making it a central pillar of the state’s fiscal health.

When Gov. Mike Dunleavy took office, the fund stood at roughly $60 billion. Since then, it has grown to more than $85 billion, which generates an additional billion dollars annually that could fuel Alaska’s economy. Unfortunately, much of that new wealth does not flow directly to Alaskans through their Permanent Fund dividends. Instead, legislative changes over recent years have siphoned billions from Alaskans’ dividends to government spending, even as the governor has sought to moderate overall state spending increases.

Still, $85 billion is a major milestone for Alaskans for a fund that has weathered volatile oil prices, economic downturns, market swings, and pressure to invade the corpus, to become one of the largest state sovereign wealth funds in the world.

Since the Legislature passed the Percent of Market Value formula in 2018, the state has only been allowed to spend a set percentage of the fund’s value annually. While the POMV formula was designed to provide predictable, sustainable payouts, it also means that much of the fund’s earnings, held in the earnings reserve account, remain off-limits for government spending.

The fund’s current growth comes amid renewed debate over its structure. Some Democrat and even Republican lawmakers have floated proposals to consolidate the earnings reserve account with the fund’s principal, a move that others warn could be a first step toward draining the corpus itself to pay for ongoing government operations. Such a change would mark a sharp departure from the fund’s original intent: To preserve Alaska’s oil wealth for future generations.

The Permanent Fund dividend, this year set by the Legislature at $1,000 per eligible Alaskan, will hit bank accounts around Oct. 2 for direct deposit, and Oct. 23 for paper checks.

Robb Myers: Why we should not combine Alaska Permanent Fund accounts

92 COMMENTS

  1. Talk about a dam grab! Infuriating they dishonored the way it was meant to be. FOR THE PEOPLE OF ALASKA.. Not a corrupt government taking our dividends that were 1000% ours to begin with! WTF???

      • There’s more to it than that. Dunleavy folded like a cheap suit at the little push back from the legislature. He never defended the PFD like he said he would. Some activist judge ruled the legislature could do what they did, why didn’t his AG appeal the decision? Never even heard if they tried. No one in his administration stood up and fought back. With the Trump administration finally opening up our lands we are owed some back money. I wonder what the candidates running for governor have to say about this issue. Never forget what our state legislature did to the people of Alaska by stealing THEIR wealth, NEVER.

        • “……..Some activist judge ruled the legislature could do what they did, why didn’t his AG appeal the decision? Never even heard if they tried……….”
          Wielechowski v Alaska. The Supreme Court has spoken, and citing well grounded constitutional fact. You’re being played by the media like a puppet.

      • Yes, and remember that Walker won that election only because clueless voters (who usually never vote) showed up at the polls because the marijuana legalization issue was on the ballot.

    • I would argue a lot is going towards propping up Government Schools and Teacher’s Unions in 2025. Prior to that, just across the board special interests and corruption.

    • Any curiosity over where the $31.3 billion dispersed PFD money went since 1982? How much was spent on dope? Booze? Hawaiian condos? It certainly didn’t accrue interest to build the fund. If it had, the fund would be well over $150 billion about now.

      • No curiosity at all. And so what where it was spent. The dispersed PFD money didn’t accrue interest to build the fund (more) because the dispersed PFD money DIDN’T BELONG TO THE FUND. The dispersed PFD money BELONGED TO THE PEOPLE it was dispersed to. Sounds like you are trying to impose some sort of moral (according to you) condition on how people spend THEIR money.

        • The dividend BELONGS TO THE PEOPLE……only as the Legislature and governor decide each year according to appropriation law. See Wielechowski v. State. They can issue no dividend at all if they so choose, because the Permanent Fund BELONGS TO THE STATE OF ALASKA until spent (or blown).

      • Nope! What people do with their share of the PF is their business (and not yours).

        It is interesting that you think “building the fund” is a purpose in and off itself. Why?

        One could also argue that we should look at the portion of the disbursement our legislators received to “run the state” over all those years and what they have done with it?
        Considering that their portion has drastically increase since 2014, we are still not seeing the commensurate achievements/improvements one would expect. Our educational outcomes are still very last, the ferries are old, we have not built any real new roads or connected anymore of the state to the road system, the only growth we seem to have is in administrative/government positions……

        So Reggie the question you pose should be directed at our government (they are accountable to the people after all) not the individual Alaskan.

        • “……..So Reggie the question you pose should be directed at our government (they are accountable to the people after all) not the individual Alaskan……….”
          All Permanent Fund monies were accrued from oil producers paid to the state of Alaska. All Permanent Fund monies were allocated wither by constitutional amendment or at the hand of our elected officials (accountable to Alaskans), and all legal.
          The dividend is not a constitutional amendment. It is legislated law. It can be taken away by the legislature and governor. It is not “yours”.
          I saw the dividend as a political stunt in 1980, and it has evolved into a “my money” phenomenon even greater than I ever imagined it would. I wish the oil had never been found. I want my pre-oil Alaska back.

          • It is completely false to say that “All Permanent Fund monies were accrued from oil producers paid to the state of Alaska.” A large portion of the Permanent Fund originally came from taxes and fees on oil, but not all.

            • “…….A large portion of the Permanent Fund originally came from taxes and fees on oil, but not all………”
              Completely false, and I’ve never heard such a claim before. Article 9, Section 15 (created in 1976) specifically requires at least 25% of oil, gas, and mining royalties to be placed in a permanent fund for income-producing investments.

              • Reg,

                Read what you just wrote again, slowly this time. Pay attention to the words after oil and before royalties. Think gas and mining…those are outside your use of the word “ALL”

                Then consider the amounts earned through investments and other rather substantial amounts have been made from payments by the legislature during budget appropriations.

                • “……Think gas and mining……..”
                  LOL…….’gas’ is part of the oil and gas industry. Yes, it isn’t crude oil. Thanks for joining that out.
                  Mining? First, not from federal or native lands. So mining on state claims or leases.
                  Can you name some, Steve?

                  • Reg,
                    Remember you are the one who claimed “All Permanent Fund monies were accrued from oil producers paid to the state of Alaska” you can’t now start to try an add words back into your claim that you’ve already failed to defend. Since we already know that what you’ve claimed is completely false but you want to explore all avenues in how wrong you are, let’s do so.

                    Oil, along with gas and mining even fed land, contribute to the Permanent Fund. You want me to name some mines that contribute to the Permanent Fund? Fort Knox, Pogo, Kensington…but of course these aren’t enough for you so you can inform yourself, if you so wish. If past is prologue, you won’t since most people prefer to remain ignorant rather than inform themselves but you can start here ‘https://www.akrdc.org/mining

                    Please inform yourself, Reg.

                    The next thing you will want to say is that these mines don’t provide enough to the Permanent Fund. Well there are mines that will provide much much more and, once again if past is prologue, you are opposed to all of them.

          • So if the PF is “not mine” as you claim then why would the legislature need a vote of the people to access the corpus?
            Per your interpretation, none of that would be necessary as legislators and politicians have “absolute power” over this fund. Sadly you disregard our constitution where every resource is COMMUNALLY owned, not just by the state, but by each and every Alaskan.
            Furthermore the PF receives income via royalties paid from ANY resource not just oil.
            It is interesting that wasting huge sums of money by government is apparently okay with you, but you begrudge regular Alaskans buying snow tires or school supplies with a small portion of the wealth we ALL own as a community.

            • “…….So if the PF is “not mine” as you claim then why would the legislature need a vote of the people to access the corpus?………..”
              Because the corpus is protected under Article 9, Section 15 in the constitution and will require an amendment to change, which is precisely what a new political campaign is trying to accomplish.
              Government wasteful spending is not remedied by doling out a billion dollars per year for residents to waste.

        • “………It is interesting that you think “building the fund” is a purpose in and off itself. Why?……..”
          Study the Government Pension Fund of Norway. It has become the world’s largest sovereign wealth fund in terms of total assets under management. This translates to over US$340,000 per Norwegian citizen. They are the wealthiest people on Earth, and will never have to pay taxes again…….unless they screw it up.
          Three years after the Permanent Fund began accruing monies the Alaska personal income tax was repealed. That in and of itself was a blessing that few enjoy. Now, even with an $85 billion Permanent Fund, we hear calls to re-establish the income tax.
          Corruption isn’t limited to those in power. It can slither up from the tall grass…………

      • Wow Reg, you are really showing your socialism now. Like Margaret Thatcher said, “The problem with socialism is that you eventually run out of other peoples’ money.” From what you have written, looks like you would like to be in control of how people spend their money!!

        • Your post is hilarious. My desire to end socialism is socialist. Yes, the problem with socialism is that you eventually run out of other people’s money………..and that is exactly what is happening. Your PFD check, growing smaller, is running out, and now the wolves are after the corpus. Within these comments are more than one advocating the entire fund to be divvied out to all residents.
          That wasn’t even a good try, Socialist. Run along…………….

        • Yes. Because my government overlords must spend it after negotiations with each other, and all are subject to reelection. Joe Blow is not.

          • At least you’re honest with yourself and how you view your place in this world. The rest of us, those who hold conservative viewpoints, do not view ourselves as underlings to an all powerful government that knows best. There are a couple countries in the world I can think of that more closely align with your worldview than the worldview that the majority of Americans hold.

            • “……. The rest of us, those who hold conservative viewpoints, do not view ourselves as underlings to an all powerful government that knows best……..”
              Yes, the rebellious American spirit. So how is that working out for you,
              Steve? Are you going to get “your money” regardless what the Legislature and Governor decide? Show me.
              Are you one of those guys who refuse to cooperate with police when they pull you over for a dead tail light, and who ends up getting shot full of holes? You know better than police and the society who created and pay police? You and you alone are authorized in your mind to defy police?

              • Reg,
                It’s been fun, but you aren’t capable of continuing the conversation at this point. Understanding how our system of government works is key to the discussion at hand, you do not seem to understand or accept it. There are more than plenty of opportunities to work within the established framework of the laws we have here to address your concerns and there is no need to resort to your outlandish ideas. I wish you luck in your endeavors and suggest you seek out a country more to your liking.

                • “……..you seek out a country more to your liking………”
                  I like this one just fine, especially this state, and I’ll enjoy watching the rats leaping from the burning deck as their freebies come to an end. If I got a nickel every time I heard an Alaskan whine that they’ll leave if their PFD stops, I’d be richer than the Permanent Fund itself.
                  That day approaches…………….

    • It’s all about grift. It will go, as usual, to special interest groups who then give a kickback to the politicians who vote for it.

    • Check the back pockets of your legislators. And, the number of fancy homes they keep in various locations, including warm climate states and even foreign countries. That will give you some ideas where your old PFD went

    • Crap…..says Reggie. How about on property taxes and fuel oil. Is that crap? People can spend their money however they want. Another left-wing loonie telling us how to live.

      • “……..Crap…..says Reggie. How about on property taxes and fuel oil. Is that crap?………”
        If you need welfare, the state has plenty of programs for that. If you advocate the PFD as a welfare program (whether openly or surreptitiously), you’re just another grifter.

  4. In my opinion, the majority of the legislators are thieves and liars, and ought to be treated as such, but nobody has the guts to sign the warrants.

  5. Make bumper stickers this coming election cycle that highlight PFD taxes on Alaskans. For instance, add the $3000/person from 2025 to prior year(s) and make stickers such as “This AK House has taxed my PFD $X”, “This AK Senate has taxed my family PFDs $X”, “Rep X has PFD-taxed me $X (all the way back to Walker if they’ve been in that long!), and “Rep X has PFD-taxed my family $X (make available in various multiples). Let’s give voters a little bit of “sticker” shock! I’m pretty sure I would buy a number of these reminders should Must Read Alaska spearhead such a worthy project and make them available. 🙂

      • Reg,
        Just because the Alaska Supreme Court decided that the Constitution’s anti-dedication clause did not exclude Permanent Fund income from the normal appropriation and veto processes, does not mean the legislature hasn’t broken the statutory dividend language every year. In fact it is demonstrably true that the legislature has violated the statutory dividend language, to suggest otherwise shows a complete lack of knowledge on the subject.

        • Steve, the statute requiring any PFD amount is unconstitutional. Period. You now try to replace the Supreme Court with the Steve-O Court of One right here for all to read.
          Your freebie is dying. The sooner, the better. When it’s gone, I thought the state population would drop by 15% within a year. These comments are changing my mind. Apparently, denial is a much stronger psychological phenomenon than I can appreciate. It might take a couple years for the leaches to drop off……………….

          • Reg,
            That’s not what the AK Supreme Court ruled, it might be what you want but that wasn’t what the decision said, at all.

            Here, in part, is what the decision said
            “The narrow question before us is whether the 1976 amendment to the Alaska Constitution exempted the legislature’s use of Permanent Fund income from the Constitution’s anti-dedication clause. The answer cannot be found by weighing the merits of the dividend program or by examining the statutory dividend formula.”

            The gist of the ruling is that according to the AK Supreme Court “The legislature’s use of Permanent Fund income is subject to normal appropriation and veto budgetary processes.”

            The statutory language has not been ruled unconstitutional, in fact the AK Supreme Court did not declare the statute unconstitutional, in holding up failed Governor Walerks veto they wrote that he had “exercised his veto authority to reduce an appropriation despite a seemingly mandatory statute.” They could have called it an unconstitutional statute, instead they called it a mandatory statute.

            • “…….That’s not what the AK Supreme Court ruled, it might be what you want but that wasn’t what the decision said, at all………”
              It’s the result of the decision, so the statute can stay in the books until the end of time, but it cannot be used to determine the PFD amount, even if the Legislature and Governor decide on an amount of $0.00. So if you feel better with a law that is meaningless, that’s great, but it doesn’t look to me like you’re feeling all that great about it………….

              • Reg,
                Once again you are completely wrong. There is nothing that the AK Supreme Court ruled upon that says the statute cannot be used to decide the dividend amount. I know you want it to say that, but it does not say that.

                You really to want the ruling of the AK Supreme Court to say what you want it to say more than what it actually does say. Even when provided with what the ruling says you still pretend that it says something it doesn’t say.

                It’s all about narrative to some people, facts be damned.

                • Wielechowski v. State (or Wielechowski v. Alaska) is a 2017 Alaska Supreme Court case that held that the State’s Permanent Fund dividend (PFD) payment system violated Alaska’s constitutional prohibition against “dedicated funds” because a portion of the Permanent Fund’s earnings were dedicated to the dividend fund without a specific legislative appropriation. The court ruled that the governor’s veto of the appropriation was a valid exercise of power and affirmed a superior court decision, requiring the legislature to pass an annual budget for PFD payments and allowing for gubernatorial veto.
                  THE PFD APPROPRIATION MUST BE CREATED IN THE SAME MANNER AS ANY OTHER APPROPRIATION. This means it must be voted on affirmatively by both houses of the Legislature, then signed into law by the governor. PERIOD. Dance as you wish, Steve, butAS 37.13.145(b) has been ruled UNCONSTITUTJIONAL. Your PFD amount will be determined by the Legislature and the Governor, and that means the amount can be $0.00.

  10. Dunleavy has put two of his most criminal board members on the PFD board. Lying, mealy-mouthed Adam Crum and Mr. Thune. Believe one thing, they will remove as much as they can get away with and the lying, mealy-mouthed Adam Crum has already made a proposal to put all of the PFD into stock market investment that clearly shows he knows nothing about the investing world or the laws set in place regarding its purpose structure.
    Remember too, that every governor takes an amount of the PFD that no one in the public sector will know about. The residents of the state won’t receive their share of the correct amount but the legislature and the governor will help themselves.

    • And pray tell, what does Johne Binkley and Wall Street have in common?

      Why aren’t we questioning the $900 million a year that is spent to manage the fund?? Why doesn’t that $900 Million have to be appropriated every year by the legislature?

      • Charles Schwab will invest it .5% or vanguard…pfd officials, offices, and up keep will go away… yearly totals made public!
        Unfortunately pork barrel spending, over run with pet peeve projects have run legislatures far too long!

  11. The PFD attracts the wrong kind of people to Alaska and until Alaska can solve the fake resident problem where outsiders buy some summertime vacation property and then claim it as their one true permanent residence thereby cementing their Alaska resident status the PFD will remain a second tier problem for me. To declare Alaska as your actual residence you should actually live here not just spend the fun season raping and pillaging our natural resources and resident benefits before going on home to your out of state spouse who likely stayed back at your actual residence in the Lower 48. Been coming here for a few months out of the year for the past 20 years? You are not a resident! You are a vacationer. Move here lock, stock and barrel. Spend the winters. Leave for a few weeks or a month for vacation and then come back. Then you might be a resident. Otherwise you’re just a fake resident.

    • “……The PFD attracts the wrong kind of people to Alaska…….”
      Hear! Hear!
      Kill the PFD, and (1) the population will go down by 10%-15% within a year, (2) those refugees are the precise folks we need to leave (reducing social agency spending), and (3) the state will have more and more money to pay its bills so we won’t have to listen to the “income tax” and “sales tax” collectors.

    • Really??
      You think people move here and invest in property for a measley $1000 PFD?? 🤣

      They do move here because they don’t have to pay INCOME TAXES‼️

      • “……..You think people move here and invest in property for a measley $1000 PFD?? 🤣…….”
        I know they do, and have known this for the past 45 years.
        In 1980, as a result of news media hype in the Lower 48, a Tennessee couple with 10 kids showed up to find the case mired in the Zobel legal morass, and even after that would have to wait over a year to qualify as residents, then another several months for their $12K Payday. Thus, our church community was tugging the pity strings to find them housing, food, and clothes.
        Moreover, just the $0.00 income tax is worth Alaskan residency…………….if you work, of course…………so add that to the benefit package.
        If you DON’T know this, I’d submit that such a comedic reply is precisely the problem, not a shrinking and (inevitably) repealed PFD.

    • There are laws on the books that already provide what you are asking for. Some percentage of people will violate laws, if you know people who are violating these laws you should inform the authorities.

  12. Two items:
    1. While it has grown over the past (almost) 7yrs, it’s greatly under shot the market in general, which is disappointing. The S&P 500 has grown by 135.5% over the same period (PF only 41.7%). If the fund had grown at the market rate, it would be worth over $140B, instead of the (relatively) measly $85B

    2. Isn’t the State Govt of the people, by the people, and for the people? So if some Permanent Fund earnings go to fund core government functions, doesn’t that mean you’re still getting a benefit from the PF? Would people rather have a full PFD and an income tax? In some ways the PFD is the worse thing to ever happen to the State (note I said the PFD, not the PF)

  13. For perspective on our Alaska permanent fund’s size, prior to the war Russia spent $65.9 billion a year funding it’s military. Our $85 billion could have funded all of it- and still provided a dividend! Clearly, there is vast, and probably criminal, levels of fraud; and certainly mega-levels of sheer waste in our state government!

  14. Split that 85 billion dollars Permanent Fund 50/50 – 42.5 billion for us and 42.5 billion for the State. End of the PFD. Hypothetically, using the 2024 Alaska Permanent Fund eligible 624,489 applicants would mean a dividend of $68,055 per applicant. Prior to that, limit the out of state time to 90 days or less. Not 180 days as it is now.

    New text in State Law substituting 90 days for 180 days allowable absences for the PFD: “You could not have been absent from Alaska for more than ninety (90) days during the qualifying year, unless it was for an allowable reason, such as education, medical treatment, or military service. If you were absent for more than ninety (90) days for an allowable reason, you still had to ave been physically present in Alaska for at least seventy-two (72) consecutive hours.”

    I know too many retirees that game the PFD system and have a home in Arizona (OR pick your favorite Snow Bird destination), but claim their home in Alaska as a primary residence. While in the Lower 48, they never register to vote or claim any property tax discounts. Typically, they would leave in late Fall and return the next Spring in time to beat the 180 day requirement. Allowed by State Law? Yes. Ethical? Nope.

    • There’s no possible way I would agree to give the same amount of PFD money to someone who came here last year, and someone like myself (and many others) who has lived in Alaska for 42 years.

    • “…….Split that 85 billion dollars Permanent Fund 50/50 – 42.5 billion for us and 42.5 billion for the State……..”
      Thanks for that illustration of the problem. I’ve been hearing this for the past 40+ years. As the fund grows, we’ll hear even more of this from the My Money Folks.

    • “…….just give me back my subsurface mineral rights and we’ll call it even………”
      How much land do you have? Are you a Native Corporation? (Hint………….they already have subsurface mineral rights……..)

  16. Alaska Permanent Fund hits record $85 billion, even as Alaskans see smaller dividends
    The Permanent Fund dividend, this year set by the Legislature at $1,000 per eligible Alaskan, will hit bank accounts around Oct. 2 for direct deposit, and Oct. 23 for paper checks.

    That’s about 114K for each Alaskan. at 5% interest we would get $5,700 each.

    Like the saying “they get the cake we get the crumbs”…………

    Time to change our politicians in Juneau……..

  17. Sad thing is most people wont check their legislators and see if they voted to rob the people. You know an easy fix to funding legalize gambling, states keep 50% of the money they get from selling powerball tickets alone. Before the moral majority jump in and talk about how casinos bring the mob and prostitution, THAT”S ALREADY HERE and we get no benefit. Besides its not 1960 casinos have tons of oversight and they are owned or run by publicly traded companies. Lets face it people like Lyman Hoffman and his pals want this state to be a welfare state and republicans are too scared to do anything meaningful to fix the state economy. Meanwhile our PFD goes down while state spending goes up. They won’t ever pay out the PFD they will just use it for state operations until we are bankrupt.

  18. Easy solution for Alaska. Every major project that impacts Alaska gets voted on by the people, not the elected officials. If it’s over a certain dollar amount, then it needs public approval. You all have handed the purse to the politicians and cry because they spend the money on some toys rather than food and you are starving. You want better roads? No new ones until the ones we have are fixed. You want better schools? No new ones till you repair the ones you have. You want better educated kids? No more funding until you have accountability and reforms. If you want this place to look like Seattle or Portland, keep it up. Get engaged and put your foot down.
    Cash it out or give us our FAIR share!

    • “……..Easy solution for Alaska. Every major project that impacts Alaska gets voted on by the people, not the elected officials………”
      Pure democracy. Review how well that worked out for the Greeks.

  19. I really hope they figure this out otherwise I think it should be left up to the Alaskan people what our pfd amount should be by a vote. I also wonder where the money is going to because there is so much that they say they are going to spend the money on but none of it gets done. All they are good for is making excuses to try and appease the alaskan people.

  20. WOW! It’s really amazing how the Alaska Legislature treats the Alaska citizens. Not only do they spend the Alaska PFD funds like drunken sailors on shore leave. But they have their greedy hands in the Alaska citizens pockets, grabbing all the funds they can, it just like your getting mugged, and the mugger hands you back a $10.00 bill, and they expecting you to be okay with that?

    I think the Legislator needs to have a forensic audit of how the dividend money that they are authorized to have gets spent. Maybe a DOGE Audit could help the Legislature to see where the fraud, waste, and abuse is happening.

    The Legislature members who voted to limit the funds payed out to the Alaska citizens should all pay a political price for going along with that BS plan. The funds in the PFD should be used as they were intended. It was never about being a cash cow for the greedy Legislature.

    If the greedy Legislature wanted to do something positive for the Alaska citizens, then make the dividend fund paid out the FULL AMOUNT as it was originally intended from the start, and make it TAX FREE! Then it would be a real dividend to the Alaska citizens. That would be a real help.

    To the Alaska Legislators I say, get your financial house in order! Stop screwing over the most financially vulnerable, the Alaska citizens, and do the right thing! Restore the PFD fund back to it’s original purpose! Pay out the full dividend! Make the PFD payout TAX FREE! In these financially challenging times the Alaska citizens need all the help they can get. Make things better! Stop being such a BIG Disappointment!!!!!

  21. Reggie Taylor has some facts!
    People are done, with legacy government appointed politicians or elected politicians deciding every session how little to award their constituents!
    Hiding in Juneau making huge money on per diems and housing allowance during special sessions, yearly raises, and write offs.
    Time the 13 corporations start to fund their own infrastructure, healthcare, education and ill! 8A has made them billionaires over and over yet dependent on SOA! Close the PFD 50/50 1 time payment, then fund government projects with a vote instead of an appropriation!

  24. In 1976, Governor Jay Hammond and Attorney General Avrum Gross, through the highest standards of change in law – the Alaska Constitutional Amendment, created the Permanent Fund Dividend. “This amendment aimed to ensure that a portion of the state’s oil revenues was reserved for future generations, with earnings from these revenues to be distributed to eligible Alaskan residents as dividends.” Wikipedia

    And then….

    From February 1976 until April 1980, the Department of Revenue Treasury Division managed the state’s Permanent Fund assets until, in 1980, the Alaska State Legislature created the APFC.[4]

    Here is the flaw.

    A fund created by a constitutional amendment gets managed, manipulated, and becomes the center of a tug-of-war between governmental administration and the legislative branch. All who are coping with their donors and, surprise, surprise, influenced by the loudest.

    When in fact, the Alaska PFD was created for the quiet.

    The purpose of the vote is so the quiet can raise their voice equally to the loudest, with or against.

    • “……..In 1976, Governor Jay Hammond and Attorney General Avrum Gross, through the highest standards of change in law – the Alaska Constitutional Amendment, created the Permanent Fund Dividend………..”
      No, they did not. The Permanent Fund was created by constitutional amendment, but the dividend was created by legislated law: AS 43.23.

      • Rigged,
        Reggie, Reggie, Reggie, get back on your meds!!!
        The PFD was very much a part and integral to the creation of the Permanent Fund. I know I voted to create it in 1976, and the PFD was included by Constitutional Amendment!!! Period, end of subject!!. Did you vote in that election Mr. Longtime Alaskan???? I highly doubt it, your biased rhetoric tells me you are the Marxist-Socialist, not the people that you belittle incessantly in your posts. The people you say spend their PFD’s in a way you don’t like (the idiots in Juneau know better, right Reg?) who only desire a small, honest portion of the massive oil wealth this state has seen. Proof positive, was when you stated that our so-called representatives in Juneau are the only people who can decide what to do with any monies from Alaska’s oil revenues. Simply stated, your constitution is of the government, by the government, and for the government. You sir, can be the person ran out on rail, we will all wave at you as you leave Alaska for good.
        Done for now

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