The Permanent Fund has a Constitutional existence and can only be tapped by a vote of the People.   The Dividend only has a statutory existence and a simple majority of the Legislature can do pretty much as it pleases with the Dividend.   The earnings of the Fund after the Fund has been inflation-proofed and the Dividend paid have always been in the General Fund and available for appropriation by the Legislature.   In the past, the Legislature has always chosen to appropriate the earnings back to the Fund, but they've always been able to appropriate earnings to government operations.