It's PFD time

And PFD doesn't stand for Personal Flotation Device. It stands for "Permanent Fund Dividend." This is the money that an Alaskan resident receives thanks to the sale and royalties from Alaskan oil, gas and other minerals. The fund, managed by a semi-private corporation, was worth $734,000 in 1977 and is now worth $40 BILLION. It's earmarked to "benefit current and all future generations of Alaskans."

Retailers and businesses really cash in on this annual October fund dispersement. There are sales galore on everything: automobiles, furniture, special CD rates -- even Alaska Air offers a special PFD (Priced for Departure) sale.

This year's amount is $1,654. But it isn't free money for all. There are a few stipulations, such as you must be a resident for the entire calendar year and you must "intend to remain an Alaska resident indefinitely." Hmmm. Sounds a little suspect. I will be eligible next year, provided I "intend to remain an Alaska resident indefinitely." There is a huge fraud division to check out claims, so be warned.

A few interesting highlights from the PFD website:

• 1989 Felons not eligible for dividends. Physical presence requirement established. (Makes me wonder about what the requirements were prior to this.)
• 1996 Misdemeanants with two prior crimes not eligible for dividends. (Makes me wonder about what the requirements were prior to this.)
• 1998 Physical presence changed to 72 hours every two years. (Boy, that's pretty lax!)
• 2001 Alaska Supreme Court rules that immigrant aliens who form intent to remain in Alaska qualify for dividends. (Huh.)
• 2002 Misdemeanants with one prior felony or two prior misdemeanors not eligible for dividend. (How is this different than the rulings in 1989 and 1996?)