Permanent Fund Dividend History

"In truth the Permanent Fund began, chiefly, with a negative goal, to place a part of the one-time oil wealth beyond the reach of day-to-day government spending."

Elmer Rasmuson
First Chairman of Permanent Fund Board of Trustees

The Alaska Permanent Fund was created in 1977; guided by our then visionary Governor Jay Hammond. After the Alaska State Legislature quickly spent the $900 million dollars it received for the Prudhoe Bay lease sales; it became quickly apparent that we would have to keep a portion of future oil revenues out of the hands of legislators. The Alaska permanent fund principal, now valued at about $22 Billion; is protected by the Alaska Constitution. Each, and every year since, a portion of Alaskas' oil royalities are placed into the permanent fund.

The interest and dividends generated by the fund however, are NOT protected; and can be spent by the legislature. Historically, a portion of the earnings are paid each year to Alaska residents, but there is no guarantee this will continue. As State budget deficits continue to explode upward, there will be continued pressure to use all earnings, and possibly the fund itself, for state government operations.

It is time to act. Protect your investment by voting for the lump sum distribution of the Permanent Fund Dividend to Alaskan Residents.


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