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HB 499: "An Act relating to contributions from permanent fund dividends for the Alaska children's trust fund; and providing for an effective date."

00 HOUSE BILL NO. 499                                                                                                      
01 "An Act relating to contributions from permanent fund dividends for the Alaska                                          
02 children's trust fund; and providing for an effective date."                                                            
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 43.23 is amended by adding a new section to read:                                                   
05  Sec. 43.23.017.  CONTRIBUTIONS FROM DIVIDENDS.  Notwithstanding                                                       
06 AS 43.23.069, the department shall prepare the permanent fund dividend application                                      
07 to allow an applicant to elect to have $10 subtracted from the applicant's dividend for                                 
08 contribution to the Alaska children's trust fund (AS 37.14.200) and to be used for                                      
09 administrative costs incurred by the department in implementing this section.                                           
10 Contributions shall be deposited in an Alaska children's trust fund contribution                                        
11 account.  In accordance with an appropriation for the purpose, the department shall use                                 
12 money in the account to pay for the administrative costs incurred by the department                                     
13 in implementing this section.  The balance in the account shall be deposited by the                                     
14 department into the Alaska children's trust fund at least every six months.                                             
01    * Sec. 2.  This Act takes effect January 1, 1997.