Do Alaskans really get a big check from the oil companies?
(There are lots of variations on this one!) Alaskans receive what is called an Alaska Permanent Fund Dividend (PFD) Check, issued by the State of Alaska every year. The history and workings of The Alaska Permanent Fund is intriguing and some consider it a model for managing government windfalls. The annual checks are based on a formula which divides the number of registered voters into a sum of money based on a percentage of income from the Alaska Permanent Fund. Annual checks have ranged in size from around $400 to just under $2000. The APF is royalty income from the oil fields. Under the Alaska Constitution the state owns 12.5% of the oil on the North Slope, which is sold to the oil companies. A portion of that income goes to the Permanent Fund. This prevents the Alaska Legislature from spending money just “because it is there” which is the way of government bodies. Keep in mind that in Alaska we do not have oil millionaires, because the state owns the resources. Without the PFD, lit
