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. It requires the commissioner to provide public notice of the dividend value and includes new disclosure requirements for the stub attached to each dividend disbursement. Notably, it mandates that the stub must inform recipients that the total amount of the dividend may be subject to federal income tax, regardless of any contributions or donations made. Additionally, the bill establishes a priority order for contributions and donations, specifying that contributions under AS 43.23.130 take precedence over donations under AS 43.23.230 and contributions under AS 43.23.135 if 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 and in increments of $25. It specifies that contributions made under this new provision cannot be used for administrative costs and that public agencies claiming dividends on behalf of individuals cannot elect to make contributions from those dividends. Overall, the bill aims to streamline the process of managing contributions and donations while ensuring that recipients are well-informed about the implications of their PFDs.

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