Its creation has to do with Alaska's constitution, which was written by the ppl in government -- white guys, mostly. The Permanent Fund was added after oil was discovered in the 1970s, of course. Here's some Wikipedia for you about the PFD:
"The Alaska Permanent Fund (APF) is a constitutionally established permanent fund managed by a state-owned corporation, the Alaska Permanent Fund Corporation (APFC).[1] It was established in Alaska in 1976[2] by Article 9, Section 15 of the Alaska State Constitution[3] under Governor Jay Hammond and Attorney General Avrum Gross. From February 1976 until April 1980, the Department of Revenue Treasury Division managed the state's Permanent Fund assets, until, in 1980, the Alaska State Legislature created the APFC.[4]
"
As of 2019, the fund was worth approximately $64 billion that has been funded by oil revenues and has paid out an average of approximately $1,600 annually per resident (adjusted to 2019 dollars).[5] The main use for the fund's revenue has been to payout the Permanent Fund Dividend (PFD), which many authors portray as the only example of a Basic Income in practice.[6][7]"
https://en.wikipedia.org/wiki/Alaska_Permanent_Fund
There is no reason -- other than (R)s -- that we cannot have a similar set-up in the lower 48.
Predictably the (R)s hate it, but they know that if they get rid of it there will never be another (R) elected there ever again, such is its popularity.