AK HB255

Creates two new funds: the senior citizen grants endowment fund and the senior citizen grants dividend raffle fund, allowing Alaskans age 18+ to donate portions of their Permanent Fund Dividend (in $100 increments) to support senior citizen services

Donations split three ways: 25% to the senior citizen grants endowment fund, 25% to the raffle fund, and 50% to the Department of Health for immediate distribution as grants to senior-serving organizations

Grant distribution prioritizes: 50% to home meal delivery organizations, 25% to senior transportation services, and 25% to supportive housing services for seniors

Annual raffle awards prizes from the raffle fund: first prize equals 8% of fund balance, second prize 4%, third prize 2%, and fourth prize 1%; each $100 donation equals one raffle entry

When the raffle fund exceeds $300 million, excess transfers to the endowment fund; when the endowment fund exceeds $1 billion, 4.5% of the five-year average market value transfers annually to the Department of Health for senior grants (applies to PFD applications starting January 1, 2027)