This bill establishes two new funds: the Senior Citizen Grants Endowment Fund and the Senior Citizen Grants Dividend Raffle Fund, aimed at providing financial support to organizations that assist senior citizens. It allows individuals to donate a portion of their permanent fund dividends to these funds and participate in corresponding raffles. The bill outlines the distribution of donations, with 25% allocated to each fund and the remaining 50% directed to the Department of Health for grants to organizations that deliver meals, provide transportation, and offer supportive housing services to seniors.

Additionally, the bill amends existing definitions and duties related to gambling and the management of the permanent fund dividend program. It clarifies that the permanent fund dividend raffle is not considered gambling and specifies the responsibilities of the Department of Revenue in administering the funds and overseeing the raffle processes. The bill also includes provisions for the management and investment of the new funds, ensuring that they are used effectively to support senior citizens in Alaska. The new sections will apply to permanent fund dividend applications submitted on or after January 1, 2027.

Statutes affected:
SB0240A, AM SB 240, introduced 02/11/2026: 11.66.280, 43.23.230, 43.23.238, 43.23.055, 43.23.011, 43.23.005, 43.23.048, 37.25.050, 25.27.010, 43.23.270, 43.23.130, 12.62.400, 43.23.220, 43.23.200, 14.17.410, 37.10.071, 43.23.235