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dc.contributor.authorGoldsmith, Scott
dc.date.accessioned2021-11-18T19:17:46Z
dc.date.available2021-11-18T19:17:46Z
dc.date.issued1994
dc.identifier.urihttp://hdl.handle.net/11122/12516
dc.description.abstractThis document was submitted as testimony to the Alaska Senate State Affairs Committee by Professor Scott Goldsmith on January 28, 1994. The Cremo proposal would establish, by constitutional amendment, a system under which all natural resource revenues would be deposited into the Alaska Permanent Fund and each year a fixed percentage of the fund assets, equal to the long run average real return on the Fund would be withdrawn for appropriation by the legislature. Based upon the analysis provided by Mr. Cremo, the amount available for appropriation (income budget) would be $3.079 billion in 1996, the first year of the transition phase, and $2.860 billion in 2005, the last year of the transition phase. In evaluating this plan the potential risks and costs should be identified and the plan should be compared to alternative methods of addressing the problems targeted in the plan. In this testimony, the potential problems and alternative policies are discussed, particularly specific problems associated with dependence on oil revenues.en_US
dc.language.isoen_USen_US
dc.publisherInstitute of Social and Economic Research, University of Alaska.en_US
dc.subjecttestimonyen_US
dc.subjectAlaska Senate State Affairs Committeeen_US
dc.subjectAlaska Permanent Funden_US
dc.subjectfund assetsen_US
dc.subjectfixed percentageen_US
dc.titleTestimony on SJR 38 "The Cremo Plan"en_US
dc.typePresentationen_US
refterms.dateFOA2021-11-18T19:17:46Z


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