The bill amends AS 43.23.055 to establish a new priority order for contributions and donations made from permanent fund dividends. Specifically, it deletes the previous provision that prioritized contributions over donations and inserts a new structure that prioritizes contributions under AS 43.23.130 first, followed by donations under AS 43.23.230, and finally contributions under AS 43.23.135. This change aims to clarify the order in which these financial allocations are processed when an applicant's total contributions and donations exceed their entitled dividend amount.

Additionally, the bill introduces a new section, AS 43.23.135, which allows applicants to direct a portion of their permanent fund dividend to the state general fund or the principal of the permanent fund. Applicants can choose to contribute 10 percent or more of their dividend in increments of 10 percent, with the stipulation that if the total contributions exceed the dividend amount, the previously established priorities for contributions and donations will apply. The bill also specifies that contributions made under this new section cannot be used for administrative costs related to its implementation.

Statutes affected:
HB0011A, AM HB 11, introduced 01/10/2025: 43.23.055, 43.23.011, 43.23.005, 43.23.048, 37.25.050, 25.27.010, 43.23.270, 43.23.130, 43.23.230, 43.23.135