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 specific disclosures attached to individual dividend disbursement advice. Notably, the bill introduces a new requirement that the stub must include a statement indicating that the total amount of the dividend may be subject to federal individual income tax, regardless of any donations or contributions made under specified sections of the law. Additionally, the bill establishes a priority order for contributions and donations, ensuring that contributions under AS 43.23.130 take precedence over donations under AS 43.23.230 when the total contributions exceed the dividend amount.

Furthermore, the bill allows 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 if the total contributions exceed the dividend amount, the priority order for contributions and donations will apply. The bill also clarifies that public agencies claiming dividends on behalf of individuals cannot elect to make contributions under this new section. Overall, these amendments aim to improve the management and distribution of the Permanent Fund Dividend while ensuring that recipients are well-informed about their eligibility and the implications of their contributions.

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