The bill amends existing laws regarding the Alaska Permanent Fund Dividend (PFD) to enhance transparency and clarify the process for contributions and donations from PFDs. Key changes include the requirement for the commissioner to provide public notice of the dividend value and detailed disclosures on the stub attached to each dividend disbursement. New disclosures will inform recipients about the potential federal tax implications of their dividends, the reasons for ineligibility related to felony convictions, and the total amounts that would have been paid to ineligible individuals. Additionally, the bill establishes a priority order for contributions and donations, ensuring that contributions under specific statutes are prioritized over donations when the total exceeds the dividend amount.

Furthermore, the bill introduces a new section allowing applicants to direct a portion of their dividend to the state general fund or the principal of the permanent fund, with contributions starting at $25. It specifies that contributions cannot be used for administrative costs and prohibits public agencies from making contributions on behalf of individuals. The department is tasked with ensuring that the application process clearly separates options for contributions under this new section from other donation options, thereby streamlining the process for applicants.

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
HB0011B, AM CSHB 11(STA), introduced 05/16/2025: 43.23.028, 43.23.240, 43.23.005, 43.23.048, 43.23.130, 43.23.135, 43.23.230, 43.23.055, 43.23.011, 37.25.050, 25.27.010, 43.23.270