AK HB158

Allows applicants to direct permanent fund dividend payments to be subtracted and contributed to the state general fund or permanent fund principal in increments of $25 or more, up to the total dividend amount.

Seven percent of contributed money will be deducted for administrative costs, with a notice requirement that dividend fund money will not be used for these costs.

Contributions under this section take lower priority than existing contributions authorized under AS 43.23.130 if total contributions exceed the dividend amount.

Public agencies claiming dividends on behalf of individuals are prohibited from electing to make contributions under this section.

The permanent fund dividend application must display the contribution option in a separate section from existing contribution options.