00CS FOR HOUSE BILL NO. 481(STA)                                                                                        
01 "An Act relating to application for and payment of permanent fund dividends of                                          
02 certain deceased individuals; and providing for an effective date."                                                     
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
04    * Section 1.  AS 43.23.005 is amended by adding a new subsection to read:                                          
05  (h)  If an individual who would otherwise have been eligible for a permanent                                          
06 fund dividend dies after applying for the dividend but before the dividend is paid, the                                 
07 department shall pay the dividend to a personal representative of the estate or to a                                    
08 successor claiming personal property under AS 13.16.680.  If an individual who would                                    
09 otherwise have been eligible for a dividend and who did not apply for the dividend                                      
10 dies during the application period, a personal representative of the estate or a successor                              
11 claiming personal property under AS 13.16.680 may apply for and receive the                                             
12 dividend.  Notwithstanding AS 43.23.011, the application for the dividend may be filed                                  
13 by the personal representative or the successor at any time before the end of the                                       
14 application period for the next dividend year.                                                                          

01    * Sec. 2.  AS 43.23.025(a) is amended to read:                                                                     
02  (a)  By October 1 of each year ,  the commissioner shall determine the value of                                     
03 each permanent fund dividend for that year by                                                                           
04   (1)  determining the total amount available for dividend payments,                                                   
05 which equals                                                                                                            
06   (A)  the amount of income of the Alaska permanent fund                                                              
07 transferred to the dividend fund under AS 37.13.145(b) during the current year;                                         
08   (B)  plus the unexpended and unobligated balances of prior fiscal                                                   
09 year appropriations that lapse into the dividend fund under AS 43.23.045(d);                                            
10   (C)  less the amount necessary to pay  prior year  dividends from                                                 
11 the dividend fund in the current year under  AS 43.23.005(h) and under                                                
12 AS 43.23.055(3) and (7);                                                                                                
13   (D)  less the amount necessary to pay dividends from the                                                            
14 dividend fund due to eligible applicants who, as determined by the department,                                          
15 filed for a previous year's dividend by the filing deadline but who were not                                            
16 included in a previous year's dividend computation;                                                                     
17   (E)  less appropriations from the dividend fund during the                                                          
18 current year, including amounts to pay costs of administering the dividend                                              
19 program and the hold harmless provisions of AS 43.23.075;                                                               
20   (2)  determining the number of individuals eligible to receive a dividend                                            
21 payment for the current year  and the number of estates and successors eligible to                                     
22 receive a dividend payment for the current year under AS 43.23.005(h) ; and                                            
23   (3)  dividing the amount determined under (1) of this subsection by the                                              
24 amount determined under (2) of this subsection.                                                                         
25    * Sec. 3.  Section 1 of this Act is retroactive to January 1, 1998.                                                
26    * Sec. 4.  Sections 1 and 3 of this Act take effect immediately under AS 01.10.070(c).                             
27    * Sec. 5.  Section 2 of this Act takes effect January 1, 1999.