What does STPF mean in FUNDS
The Severance Tax Permanent Fund (STPF) is a trust fund created by the Alaska state government to help manage and invest taxes generated from oil and gas extraction activities. The fund's goal is to ensure that the state of Alaska will benefit from its natural resources in an ongoing manner.
STPF meaning in Funds in Business
STPF mostly used in an acronym Funds in Category Business that means Severance Tax Permanent Fund
Shorthand: STPF,
Full Form: Severance Tax Permanent Fund
For more information of "Severance Tax Permanent Fund", see the section below.
Essential Questions and Answers on Severance Tax Permanent Fund in "BUSINESS»FUNDS"
What is the Severance Tax Permanent Fund?
The Severance Tax Permanent Fund (STPF) is a trust fund created and managed by the State of Alaska to benefit from taxes generated from oil and gas extraction activities.
Who receives benefits from the STPF?
All citizens of Alaska receive benefits from the investments made with funds drawn from the STPF. This includes dividends paid out to citizens as part of their annual income tax return.
How much has been allocated for use in the STPF?
As of 2021, billion has been allocated for investment into various sectors through the STPF.
Is there a cap on contributions to the fund?
Yes, since 1987, no more than one-third of all severance taxes collected can be deposited into the STPF each year.
How are investments made with funds drawn from STPF?
Investment decisions are overseen by the Board of Trustees, which manages investments in accordance with a set of guidelines and policies approved by the Legislature and Governor. The Board also works with professional money managers who are tasked with selecting suitable investments that meet predetermined criteria set forth by board members.
Final Words:
The Severance Tax Permanent Fund (STPF) is an important initiative that helps ensure sustainability when it comes to managing Alaska's natural resources. By taking advantage of this fund, citizens can benefit from safe investment opportunities while ensuring that taxes collected through oil and gas development are used wisely for future generations.
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