This bill amends Alaska's existing law regarding permanent fund dividends by introducing a new section that allows eligible applicants to direct their dividend payments into designated investment accounts. Specifically, it enables applicants or their authorized representatives to indicate their preference for the deposit on the permanent fund dividend application form. The department is tasked with designing this application form to include necessary information for implementation and must inform applicants that they assume the investment risks associated with this option.

Additionally, the bill stipulates that no funds from the dividend fund can be used for administrative costs related to this new provision. The effective date for this legislation is set for January 1, 2026.

Statutes affected:
HB0102A, AM HB 102, introduced 02/14/2025: