Editing Alaska Permanent Fund (section)

== Permanent Fund Dividend ==
The Permanent Fund Dividend (PFD) is a dividend paid to Alaska residents that have lived within the state for a full calendar year (January 1 – December 31), and intend to remain an Alaska resident indefinitely.<ref>{{cite web|url=http://pfd.alaska.gov/Eligibility/EligibilityRequirements|title=Eligibility Requirements|website=pfd.alaska.gov|access-date=March 29, 2018|archive-date=March 31, 2015|archive-url=https://web.archive.org/web/20150331213810/https://pfd.alaska.gov/Eligibility/EligibilityRequirements|url-status=dead}}</ref> This means if residency is taken on January 2, the "calendar year" would not start until next January 1.

However, an individual is not eligible for a PFD for a dividend year if:
:(1) the individual was absent from Alaska for more than 180 days, unless it was on an [https://pfd.alaska.gov/Eligibility/Absence-Guidelines allowable absence];<ref>{{Cite web|title=Absence Guidelines|url=https://pfd.alaska.gov/Eligibility/Absence-Guidelines|access-date=July 1, 2020|website=pfd.alaska.gov}}</ref>
:(2) during the qualifying year, the individual was [[Sentence (law)|sentenced]] as a result of [[conviction]] in this state of a [[felony]];
:(3) during all or part of the qualifying year, the individual was [[Incarceration|incarcerated]] as a result of the conviction in this state of a
::(A) felony; or
::(B) [[misdemeanor]] if the individual has been convicted of
:::(i) a prior felony as defined in [http://www.akleg.gov/basis/statutes.asp#11.81.900 AS 11.81.900]; or
:::(ii) two or more prior misdemeanors as defined in [http://www.akleg.gov/basis/statutes.asp#11.81.900 AS 11.81.900]

The amount of each payment is based upon a five-year average of the Permanent Fund's performance and varies widely depending on the stock market and many other factors.  The PFD is calculated by the following steps:<ref>{{cite web|title=How the PFD amount is calculated|url=http://www.apfc.org/home/Content/dividend/dividend.cfm|publisher=Alaska Permanent Fund Corporation|access-date=September 27, 2012|archive-url=https://web.archive.org/web/20130117184423/http://www.apfc.org/home/Content/dividend/dividend.cfm|archive-date=January 17, 2013|url-status=dead}}</ref>

# Add fund statutory net income from the current plus the previous four fiscal years.
# Multiply by 21%
# Divide by 2
# Subtract prior year obligations, expenses and PFD program operations
# Divide by the number of eligible applicants

The lowest individual dividend payout was $331.29 in 1984 and the highest was $3,284 in 2022.<ref name=":7"/> In 2008, Governor [[Sarah Palin]] signed Senate Bill 4002<ref>{{cite web|title=Senate Bill No. 4002|url=http://www.legis.state.ak.us/basis/get_bill_text.asp?hsid=SB4002A&session=25|publisher=State of Alaska|access-date=September 27, 2012}}</ref> that used revenues generated from the state's natural resources and provided a one-time special payment of $1,200 to every Alaskan eligible for the PFD.<ref>{{cite news|title=Palin signs energy relief package|url=http://www.juneaublogger.com/ccwupdates/?p=62|archive-url=https://archive.today/20130128114218/http://www.juneaublogger.com/ccwupdates/?p=62|url-status=dead|archive-date=January 28, 2013|access-date=September 27, 2012|newspaper=Capital Weekly|date=August 26, 2008}}</ref>

Although the principal or corpus of the fund is constitutionally protected, income earned by the fund, like nearly all state income, is constitutionally defined as general fund money.{{Citation needed|date=December 2016}}

The first dividend plan would have paid Alaskans $50 for each year of residency up to 20 years, but the U.S. Supreme Court in {{ussc|name=Zobel v. Williams|457|55|1982}} disapproved the $50 per year formula as an invidious distinction burdening interstate travel.  As a result, each qualified resident now receives the same annual amount, regardless of age or years of residency.

Payments from the fund are subject to federal income tax. Alaska has no state income tax, but part-year residents who leave the state may be taxed on them by their new state of residence.

The PFD is a Basic Income in the form of a resource dividend. Some researchers argue, "It has helped Alaska attain the highest economic equality of any state in the United States... And, seemingly unnoticed, it has provided unconditional cash assistance to needy Alaskans at a time when most states have scaled back aid and increased conditionality."<ref>{{cite book|last1=Widerquist|first1=Karl|url=https://books.google.com/books?id=MWJdAQAAQBAJ&dq=Alaska%27s+permanent+fund+dividend&pg=PT250|title=Alaska's Permanent Fund Dividend|date=February 14, 2012|pages=1|publisher=Springer|isbn=9781137015020}}</ref>

===Annual individual payout===
This is the fund's history of annual individual payouts, in USD.<ref>{{Cite web |title=Permanent Fund Dividend - Summary of Dividend Applications & Payments |url=https://prd.pfd.alaska.gov/Division-Info/summary-of-dividend-applications-payments |access-date=June 6, 2023 |website=Permanent Fund Dividend |language=en}}</ref>
[[File:History of annual individual payouts, in nominal USD 2021983-2024.png|thumb|700x700px|History of annual individual payouts, 1983–2023 in [[Real versus nominal value (economics)|nominal]] USD<ref name=":0">{{cite web |title=Annual Dividend Payouts |url=https://pfd.alaska.gov/Division-Info/summary-of-dividend-applications-payments |access-date=February 27, 2024 |publisher=Alaska Permanent Fund Corporation }}</ref>]]
{| class="wikitable sortable plainrowheaders" style="text-align: right;"
|-
! scope="col" | Year
! scope="col" data-sort-type="number" | Dividend amount (USD)
! scope="col" | Inflation-adjusted dividend amount ({{Inflation/year|US}} USD)
! scope="col" | Notes
|-
! scope="row" | 1982
| 1,000.00
| {{Inflation|US|1000|1982|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1983
| 386.15
| {{Inflation|US|386.15|1983|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1984
| 331.29
| {{Inflation|US|331.29|1984|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1985
| 404.00
| {{Inflation|US|404|1985|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1986
| 556.26
| {{Inflation|US|556.26|1986|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1987
| 708.19
| {{Inflation|US|708.19|1987|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1988
| 826.93
| {{Inflation|US|826.93|1988|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1989
| 873.16
| {{Inflation|US|873.16|1989|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1990
| 952.63
| {{Inflation|US|952.63|1990|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1991
| 931.34
| {{Inflation|US|931.34|1991|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1992
| 915.84
| {{Inflation|US|915.84|1992|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1993
| 949.46
| {{Inflation|US|949.46|1993|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1994
| 983.90
| {{Inflation|US|983.90|1994|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1995
| 990.30
| {{Inflation|US|990.30|1995|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1996
| 1,130.68
| {{Inflation|US|1,130.68|1996|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1997
| 1,296.54
| {{Inflation|US|1,296.54|1997|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1998
| 1,540.88
| {{Inflation|US|1,540.88|1998|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 1999
| 1,769.84
| {{Inflation|US|1,769.84|1999|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2000
| 1,963.86
| {{Inflation|US|1,963.86|2000|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2001
| 1,850.28
| {{Inflation|US|1,850.28|2001|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2002
| 1,540.76
| {{Inflation|US|1,540.76|2002|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2003
| 1,107.56
| {{Inflation|US|1,107.56|2003|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2004
| 919.84
| {{Inflation|US|919.84|2004|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2005
| 845.76
| {{Inflation|US|845.76|2005|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2006
| 1,106.96
| {{Inflation|US|1,106.96|2006|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2007
| 1,654.00
| {{Inflation|US|1,654.00|2007|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2008
| 2,069.00
| {{Inflation|US|2,069.00|2008|fmt=c|r=2}}
| style="text-align: left;" | Dividend came with a $1,200 Alaska Resource Rebate
|-
! scope="row" | 2009
| 1,305.00
| {{Inflation|US|1,305.00|2009|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2010
| 1,281.00
| {{Inflation|US|1,281.00|2010|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2011
| 1,174.00
| {{Inflation|US|1,174.00|2011|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2012
| 878.00
| {{Inflation|US|878.00|2012|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2013
| 900.00
| {{Inflation|US|900.00|2013|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2014
| 1,884.00
| {{Inflation|US|1,884.00|2014|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2015
| 2,072.00
| {{Inflation|US|2,072.00|2015|fmt=c|r=2}}
| style="text-align: left;" | 
|-
! scope="row" | 2016
| 1,022.00
| {{Inflation|US|1,022.00|2016|fmt=c|r=2}}
| style="text-align: left;" | Dividend was estimated to be $2,052 ({{Inflation|US|2,052|2016|fmt=c|r=2}}) but Governor [[Bill Walker (American politician)|Bill Walker]]'s veto reduced it<ref name=":1">{{cite web|last1=Herz|first1=Nathaniel|title=Gov. Walker's veto cuts Alaska Permanent Fund dividends to $1,022|url=https://www.adn.com/politics/2016/09/23/gov-walkers-veto-shaves-alaska-permanent-fund-dividends-to-1022/|website=Anchorage Daily News|date=September 23, 2016|access-date=March 14, 2019}}</ref>
|-
! scope="row" | 2017
| 1,100.00
| {{Inflation|US|1,100.00|2017|fmt=c|r=2}}
| style="text-align: left;" | Dividend was estimated to be over $2,300 ({{Inflation|US|2,300|2017|fmt=c|r=2}}) however it was reduced by legislative action<ref name=":2">{{cite web|last1=Hughes|first1=Zachariah|title=PFD amount announced: $1,100|url=https://www.ktoo.org/2017/09/15/pfd-amount-announced-1100/|website=KTOO News|date=September 16, 2017|access-date=March 14, 2019}}</ref> 
|-
! scope="row" | 2018
| 1,600.00
| {{Inflation|US|1,600.00|2018|fmt=c|r=2}}
| style="text-align: left;" | Dividend was estimated to be $2,700 ({{Inflation|US|2,700|2018|fmt=c|r=2}}) however it was reduced by legislative action<ref name=":3">{{cite web|last1=Herz|first1=Nathaniel|title=Alaska House votes to more than double PFDs, splintering majority and threatening budget progress|url=https://www.adn.com/politics/alaska-legislature/2018/03/26/alaska-house-votes-to-more-than-double-pfds-splintering-majority-and-threatening-budget-progress/|website=Anchorage Daily News|date=March 27, 2018|access-date=April 19, 2018}}</ref> 
|-
! scope="row" | 2019
| 1,606.00
| {{Inflation|US|1,606.00|2019|fmt=c|r=2}}
| style="text-align: left;" | <ref name=":4">{{cite web|title=2019 PFD amount officially announced at $1,606|url=https://www.ktuu.com/content/news/2019-PFD-amount-announced-by-the-Department-of-Revenue-561544941.html|website=KTUU.com|date=September 27, 2019 |access-date=September 30, 2019}}</ref> 
|-
! scope="row" | 2020
| 992.00
| {{Inflation|US|992.00|2020|fmt=c|r=2}}
| style="text-align: left;" | <ref name=":5.">{{cite web|last1=Wojtusik|first1=Genevieve|title=Department of Revenue Announces 2020 Permanent Fund Dividend|url=https://alaska-native-news.com/department-of-revenue-announces-2020-permanent-fund-dividend/49576/|website=Alaska Native News|date=June 13, 2020|access-date=June 13, 2020}}</ref> 
|-
! scope="row" | 2021
| 1,114.00
| {{Inflation|US|1,114.00|2021|fmt=c|r=2}}
| style="text-align: left;" | <ref name=":6">{{cite web|last1=Paraskova |first1=Tsvetana|title=Alaska Is Reaping The Benefits Of High Oil Prices|url=https://oilprice.com/Energy/Crude-Oil/Alaska-Is-Reaping-The-Benefits-Of-High-Oil-Prices.html|website=oilprice.com|date=March 28, 2022|access-date=April 27, 2022}}</ref>
|-
! scope="row" | 2022
| 3,284.00
| {{Inflation|US|3,284.00|2022|fmt=c|r=2}}
| style="text-align: left;" | <ref name=":7">{{cite web|last=Turner|first=Jeff|title=2022 Permanent Fund Dividend Hits a Record $3,284.00|url=https://alaska-native-news.com/2022-permanent-fund-dividend-hits-a-record-3284-00/63686/|date=September 9, 2022|website=Alaska Native News|access-date=September 6, 2023}}</ref> $662 energy relief portion of dividend was deemed non-taxable
|-
! scope="row" | 2023
| 1,312.00
| 
| style="text-align: left;" | <ref name=":8">{{cite web|last=Early|first=Wesley|title=This year's Alaska Permanent Fund dividend is $1,312|url=https://alaskapublic.org/2023/09/21/this-years-alaska-permanent-fund-dividend-is-1312/|date=September 21, 2023|website=Alaska Public Media|access-date=September 21, 2023}}</ref>
|-
! scope="row" | 2024
| 1,702.00
| 
| style="text-align: left;" | <ref name=":9">{{cite web|last=Early|first=Wesley|title=Alaska Permanent Fund Dividend for 2024 is $1,702|url=https://alaskapublic.org/2024/09/19/alaska-permanent-fund-dividend-for-2024-is-1702/|date=September 19, 2024|website=Alaska Public Media|access-date=September 19, 2024}}</ref>
|-
|-
|}