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

Walker proposes Permanent Fund overhaul to cover deficit

Posted on 29 October 2015

Governor Bill Walker will propose overhauling the way Alaska uses the Permanent Fund when he releases his budget later this year. The plan would turn the state’s various savings accounts into a kind of endowment, using their earnings to fund state operations.
The governor’s goal is to shift the state from a reliance on oil revenue to a reliance on the earnings of its massive reserve funds, an idea the administration is comparing to the sovereign wealth funds used in oil-dependent states like Norway. The governor’s administration is holding a briefing at noon for lawmakers who are gathered in Juneau for a special legislative session on a natural gas line………………………………………..Full Article: Source


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