AK SB133

Department of Revenue shall increase the 2012 permanent fund dividend to include an energy rebate for recipients 18 years of age or older on October 1, 2012.

Energy rebate is calculated by multiplying three factors: the quotient of local heating oil price divided by base price, the quotient of 10-year average local heating degree days divided by 10-year average base heating degree days, and a base amount of $200.

Permanent fund dividend recipients under 18 years of age on October 1, 2012, shall receive one-half of the calculated rebate amount.

General fund shall transfer the necessary amount for energy rebates to the dividend fund established under AS 43.23.045, subject to appropriation.

Base price and base heating degree days are determined using Anchorage standards, while local prices and heating degree days are determined for the location nearest to each recipient's physical address as reported on their permanent fund dividend application.