AK HB163

Applicants for permanent fund dividends must be able to indicate on the application form whether they want to receive their dividend as a lump sum or in monthly payments.

Department of Revenue must adopt regulations establishing procedures that allow persons to receive permanent fund dividends in monthly installments.

Department must determine the number of eligible applicants by October 1 and pay dividends by December 31 of the year the dividend is declared.

Department must adopt regulations giving priority to contributions under AS 43.23.062 over donations under AS 43.23.064 if the total elected amount exceeds the dividend amount.