AK HB359

Allows eligible individuals to opt into a permanent fund dividend buy-out program during calendar year 2026, receiving $5,000 in addition to their regular dividend for three consecutive years (2026, 2027, and 2028).

Individuals who receive all three buy-out payments will receive $0 for permanent fund dividends in calendar years after 2028, despite remaining eligible under other state law.

Requires the Department of Revenue to include buy-out election options on the 2026 permanent fund dividend application beginning January 1, 2026.

Modifies dividend calculation formulas to account for individuals who have received all three buy-out payments when determining the dividend amount for other eligible recipients.

Takes effect January 1, 2026, and requires annual transfers from the dividend fund to the general fund equal to amounts that would have been paid to buy-out recipients.