Fri, Apr 25, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, Performance

Half of state royalties now to go into Alaska Permanent Fund

Posted on 30 October 2008

From ADN: Starting this month, 50 percent of the royalties generated from state mineral leases issued after Dec. 1, 1979, will be placed in the Permanent Fund. That’s an increase from the 25 percent that has been transferred since 2003.

The increase is due to the automatic repeal of a 2003 law that temporarily cut the rate at 25 percent, the state Department of Revenue said. Under the state constitutional amendment in 1976 that created the Permanent Fund, an oil wealth savings account now worth about $28 billion, at least 25 percent of all mineral lease rentals, royalties, royalty sale proceeds and federal mineral revenue sharing payments and bonuses received by the state shall be placed in a permanent fund, the department said…… Full Article: Source


 Article link

This post was written by:

VRS - who has written 13934 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

banner
banner
April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930