$ 1600 to every Alaskan: how Americans just get their petrodollars

Alaskans receive dividends every year from state oil production.

Фото: Depositphotos

To this end, a permanent state fund has been created in the region that manages profits from oil development, writes “Voice of America".

The amount of dividends is indexed annually and depends on the income of the last five years, as well as on the number of people who should receive money in the relevant year.

As of 2018 year, every Alaskan citizen receives $ 1 600 per year, this amount is subject to federal tax.

To receive petrodollars, a person must live in Alaska for at least one calendar year, prove an intention to live in the state for a long time and have no criminal record.

The fund was established in 1976 after the opening of the Trans-Alaska oil pipeline. In the referendum, residents voted in favor of an amendment to the state constitution, establishing their right to receive dividends. In 1982, the foundation established a program whereby 25% of the state’s profits from the sale of oil goes directly to the foundation; this quarter goes to dividends for all permanent residents of Alaska.

The smallest payment for the entire fund operation period was 331 dollar, and the maximum amount was fixed in 2015 year and was $ 2 072.

Infographics: Wikipedia

Permanent Fund dividends are received by absolutely all registered Alaskans. This program is designed not only for the adult population, children also receive their share of the profits. The sum is paid in equal shares to each resident, which has repeatedly become the cause of discontent of the indigenous population, who believe that they are entitled to a large part. Those residents of Alaska who joined the program in 1982, that is, since its inception, have already received about 40 thousand dollars.

One of the goals of the fund is to attract people to this state. Despite the vast territory in 663 square miles (1 717 sq. Km), the population of Alaska is only about 740 thousand people.

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