00SENATE BILL NO. 37                                                                                                      
01 "An Act relating to treatment of permanent fund dividends for purposes of                                               
02 determining eligibility for certain benefits; and providing for an effective date."                                     
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 43.23.025(a) is amended to read:                                                                    
05  (a)  By October 1 of each year, the commissioner shall determine the value of                                       
06 each permanent fund dividend for that year by                                                                           
07   (1)  determining the total amount available for dividend payments,                                                   
08 which equals                                                                                                            
09   (A)  the amount of income of the Alaska permanent fund                                                              
10 transferred to the dividend fund under AS 37.13.145(b) during the current year;                                         
11   (B)  plus the unexpended and unobligated balances of prior fiscal                                                   
12 year appropriations that lapse into the dividend fund under AS 43.23.045(d);                                            
13   (C)  less the amount necessary to pay dividends from the                                                            
14 dividend fund in the current year under AS 43.23.055(3) and (7);                                                        

01   (D)  less the amount necessary to pay dividends from the                                                            
02 dividend fund due to eligible applicants who, as determined by the department,                                          
03 filed for a previous year's dividend by the filing deadline but who were not                                            
04 included in a previous year's dividend computation;                                                                     
05   (E)  less appropriations from the dividend fund during the                                                          
06 current year, including amounts to pay costs of administering the dividend                                              
07 program [AND THE HOLD HARMLESS PROVISIONS OF AS 43.23.075];                                                             
08   (2)  determining the number of individuals eligible to receive a dividend                                            
09 payment for the current year; and                                                                                       
10   (3)  dividing the amount determined under (1) of this section by the                                                 
11 amount determined under (2) of this section.                                                                            
12    * Sec. 2.  AS 43.23.028(a) is amended to read:                                                                       
13  (a)  By October 1 of each year, the commissioner shall give public notice of                                        
14 the value of each permanent fund dividend for that year. The notice and the stub                                        
15 attached to each individual dividend check must disclose the amount                                                     
16   (1)  of each dividend attributable to income earned by the permanent                                                 
17 fund from deposits to that fund required under art. IX, sec. 15, Constitution of the                                    
18 State of Alaska;                                                                                                        
19   (2)  of each dividend attributable to income earned by the permanent                                                 
20 fund from appropriations to that fund and from amounts added to that fund to offset                                     
21 the effects of inflation; and                                                                                           
22   (3)  by which each dividend has been reduced due to each appropriation                                               
23 from the dividend fund, including amounts to pay the costs of administering the                                         
24 dividend program [AND THE HOLD HARMLESS PROVISIONS OF AS 43.23.075].                                                    
25    * Sec. 3.  AS 43.23.075(b) and 43.23.075(c) are repealed.                                                            
26    * Sec. 4.  This Act takes effect January 1, 1996.