State of Alaska
Fiscal Note
Bill Version: HB 73
2021 Legislative Session
Fiscal Note Number: 3
(H) Publish Date: 2/18/2021
Identifier: 0693-PF-PFD-1-15-21 Department: Permanent Fund
Title: PERM FUND; ADVISORY VOTE Appropriation: Permanent Fund Dividends
Sponsor: RLS BY REQUEST OF THE GOVERNOR Allocation: Permanent Fund Dividend Fund
Requester: Governor OMB Component Number: 2616
Expenditures/Revenues
Note: Amounts do not include inflation unless otherwise noted below. (Thousands of Dollars)
Included in
FY2022 Governor's
Appropriation FY2022 Out-Year Cost Estimates
Requested Request
OPERATING EXPENDITURES FY 2022 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027
Personal Services
Travel
Services
Commodities
Capital Outlay
Grants & Benefits
Miscellaneous (489,299.0) 2,023,947.0 1,603,000.0 1,643,500.0 1,665,000.0 1,686,500.0 1,720,500.0
Total Operating (489,299.0) 2,023,947.0 1,603,000.0 1,643,500.0 1,665,000.0 1,686,500.0 1,720,500.0
Fund Source (Operating Only)
1041 PF ERA (UGF) (489,299.0) 2,023,947.0 1,603,000.0 1,643,500.0 1,665,000.0 1,686,500.0 1,720,500.0
Total (489,299.0) 2,023,947.0 1,603,000.0 1,643,500.0 1,665,000.0 1,686,500.0 1,720,500.0
Positions
Full-time
Part-time
Temporary
Change in Revenues
None
Total 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Estimated SUPPLEMENTAL (FY2021) cost: 0.0 (separate supplemental appropriation required)
Estimated CAPITAL (FY2022) cost: 0.0 (separate capital appropriation required)
Does the bill create or modify a new fund or account? No
(Supplemental/Capital/New Fund - discuss reasons and fund source(s) in analysis section)
ASSOCIATED REGULATIONS
Does the bill direct, or will the bill result in, regulation changes adopted by your agency? No
If yes, by what date are the regulations to be adopted, amended or repealed? N/A
Why this fiscal note differs from previous version/comments:
Initial version.
Prepared By: Caroline Schultz, Chief Policy Analyst Phone: (907)465-4698
Division: Office of Management and Budget Date: 01/15/2021 09:00 AM
Approved By: Neil Steininger, Director Date: 01/15/21
Agency: Office of Management and Budget
Printed 2/18/2021 Page 1 of 2 Control Code: nWjOD
 HB 73 - Fiscal Note 3
FISCAL NOTE ANALYSIS
STATE OF ALASKA BILL NO.
2021 LEGISLATIVE SESSION
Analysis
This legislation changes the amount calculated for the appropriation for the payment of permanent fund dividends to 50
percent of the 5.0% percent of market value (POMV) draw from the permanent fund earnings reserve account (ERA). This
bill directs the legislature to appropriate 50 percent of the statutory POMV draw to the general fund and 50 percent to
the dividend fund for the payment of permanent fund dividends (PFDs).
The Governor's fiscal year 2022 budget included an appropriation from the ERA for the current statutory permanent fund
dividend calculation, estimated to be $2,023,947.0. This legislation is effective for fiscal year 2022, and if enacted, the new
statutory calculation for the PFD appropriation would be $1,534,648.0, a difference of $489,299.0.
The values on page one of this fiscal note for fiscal years 2023 through 2027 are based on 50 percent of Alaska
Department of Revenue official projections for the 5.0% POMV draw. Out-year estimates are subject to significant
variation based on future market returns and whether additional appropriations are made from the ERA.
Under the calculation proposed by this legislation, the PFD amount to be paid to eligible applicants in calendar year 2021
is estimated to be $2,329. The table below shows estimated dividends per recipient for fiscal years 2022 through 2027.
(Revised 8/20/20 OMB/LFD) Page 2 of 2
0693-PF-PFD-1-15-21 Page 2 of 2 Control Code: nWjOD


Statutes affected:
HB0073A, AM HB 73, introduced 02/18/2021: 37.13.140, 37.13.145, 43.23.045, 37.05.565, 37.13.300, 37.14.031, 43.23.025, 43.23.005, 43.23.021, 43.23.055, 43.23.240
HB0073A, AM HB 73, introduced 02/01/2021: 37.13.140, 37.13.145, 43.23.045, 37.05.565, 37.13.300, 37.14.031, 43.23.025, 43.23.005, 43.23.021, 43.23.055, 43.23.240