Alaska Permanent Fund Restructuring Proposed by Political Candidates

Three of the four candidates running for Alaska's next governor voiced support for a plan to restructure the Alaska Permanent Fund. The proposed change would permanently cap the amount of money that can be spent from the fund without requiring a statewide vote. The Alaska Permanent Fund, which was created in 1976, has served as the primary source of revenue for state services and the annual dividend since 2018.

The Alaska Permanent Fund is the largest source of general-purpose revenue for the state, accounting for more than half of the state's revenue even during years of high oil prices. The fund's current structure divides assets into a constitutionally protected corpus and an earnings reserve, which is subject to legislative and gubernatorial approval.