History of Alaska Permanent Fund in Timeline
The Alaska Permanent Fund (APF) is a constitutionally established fund managed by the Alaska Permanent Fund Corporation (APFC), a state-owned corporation. Created in 1976 under Governor Jay Hammond and Attorney General Avrum Gross, it was formally established by Article 9, Section 15 of the Alaska State Constitution. Initially managed by the Department of Revenue Treasury Division, the APFC was created by the Alaska State Legislature in 1980 to manage the fund's assets independently. The fund's primary purpose is to benefit current and future generations of Alaskans, primarily through annual dividend payments to residents.
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