Why does alaska have pfd

Alaskans must demand other options than restructuring the Fund and capping the PFD to pay for government and hidden business dividends. The Permanent Fund Corporation has public meetings and maintains transparency in its management.

We need to keep them accountable. A vote of the Legislature is needed to spend the CBR money and it has to get paid back. By a margin of 75, t o 38,, a Constitutional Amendment establishing the Permanent Fund was approved. At least twenty-five percent of all mineral lease rentals, royalties, royalty sale proceeds, federal mineral revenue sharing payments and bonuses received by the State shall be placed in a permanent fund, the principal of which shall be used only for those income-producing investments specifically designated by law as eligible for permanent fund investments.

All income from the permanent fund shall be deposited in the general fund unless otherwise provided by law. Investments were comprised almost entirely of bonds, while the Legislature had a four-year public discussion regarding whether the Permanent Fund should be managed as an investment fund or as an economic development bank.

Alaska Permanent Fund. Search Submit Clear. Who We Are. Our Leadership. A Pioneering Investment Model. Partnership Approach. Good Governance Is Good Business. History and Education. What We Do.

Investing for Alaska. Our Investment Team Leadership. The Legislature has struggled with the issue for six years. Nearly all legislators say they would support a compromise. A closer look at what happened during the last special session can shed light on why things seem stuck during this one. At the end of the third special session, the Senate Finance Committee put forward a major bill that would balance the state budget and allow permanent fund dividends at the level proposed by Gov.

Mike Dunleavy, though that would take three years. Mike Shower said during a debate over the bill. I got it. Sitka Republican Sen. Bert Stedman co-chairs the committee that put forward the bill. He also is skeptical of new taxes. So during the Sept.

And paying for it is at least part of why the Legislature has not been able to agree on a change to the permanent fund dividend formula in the seven years since oil prices fell. But neither the governor nor most legislators who have said they wanted cuts have proposed cutting state services on a large scale.

At least not since Dunleavy reversed his positions on budget vetoes in August That came after a public backlash to the cuts he had pursued earlier that year. Stutes said that if there are going to be much higher dividends, they have to be paid for. And not with a one-shot drawdown in permanent fund earnings. Or how are you going to pay for the big PFD?