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Sovereign Wealth Funds Briefing - Categorized | Financials

Some lesser known Permanent Fund Dividend history

Posted on 29 March 2011

As Alaskans face the March 31 deadline for applying for the 2011 Permanent Fund Dividend (PFD), I thought it might be useful to present some history linked to the PFD that is not contained in Alaska’s history books.

The concept of the PFD was created by Gov. Jay Hammond. He had floated various versions of the PFD concept during his first term of office, but it wasn’t until his second term — when Prudhoe Bay oil began to flow down the TAPS pipeline, and millions of dollars from oil production began to cascade into the state treasury — that the PFD program became a reality…………………………………….Full Article: Source

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