AK HB245

Allows eligible permanent fund dividend (PFD) applicants or their authorized representatives to direct their dividend payments to be deposited into an investment account of their choice.

Requires the department to modify the PFD application form to include an option for applicants to direct deposits to investment accounts and to specify necessary information for implementation.

Mandates that the application form notify applicants they assume all investment risk for funds deposited under this provision.

Prohibits the department from using money from the dividend fund to cover administrative costs related to implementing this section.

Takes effect January 1, 2025.