HB 393: "An Act relating to the longevity bonus program; and providing for an effective date."
00 HOUSE BILL NO. 393 01 "An Act relating to the longevity bonus program; and providing for an effective date." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 09.38.015(a) is amended to read: 04 (a) An individual is entitled to exemption of the following property: 05 (1) a burial plot for the individual and the individual's family; 06 (2) health aids reasonably necessary to enable the individual or a 07 dependent to work or to sustain health; 08 (3) benefits paid or payable for medical, surgical, or hospital care to 09 the extent they are or will be used to pay for the care; 10 (4) an award under AS 18.67 (Violent Crimes Compensation Board) or 11 a crime victim's reparations act of another jurisdiction; 12 (5) benefits paid or payable as a longevity bonus under former 13 AS 47.45; 14 (6) compensation or benefits paid or payable and exempt under federal 15 law;
01 (7) liquor licenses granted under AS 04; 02 (8) tuition credit or savings accounts under a higher education savings 03 account established under AS 14.40.802 or an advance college tuition savings contract 04 authorized under AS 14.40.809(a); 05 (9) a permanent fund dividend to the extent allowed under 06 AS 43.23.065. 07 * Sec. 2. AS 18.56.850(b) is amended to read: 08 (b) In the development of a home energy conservation or weatherization 09 program under (a) of this section, the corporation may not consider the value of 10 [ALASKA LONGEVITY BONUS PAYMENTS UNDER AS 47.45 OR] permanent 11 fund dividends under AS 43.23 in determining whether a person meets income 12 guidelines established under AS 18.56.088 and (a) of this section for a state or, to the 13 extent permitted by federal law, a federal energy conservation or weatherization 14 program. 15 * Sec. 3. AS 44.99.205(c)(3) is amended to read: 16 (3) "program" includes the permanent fund dividend program under 17 AS 43.23 [AND THE LONGEVITY BONUS PROGRAM UNDER AS 47.45]; 18 * Sec. 4. AS 47.08.060(c) is amended to read: 19 (c) In applying the formula to determine the applicant's share, the total gross 20 income and the total assets of the family of the applicant may be taken into account, 21 with the following exceptions: 22 (1) the applicant's permanent place of abode; 23 (2) one noncommercial vehicle; 24 (3) tools, equipment, vehicles, and other assets required in a trade or 25 business; 26 (4) ordinary household and personal effects; 27 (5) $1,000 of liquid assets; 28 (6) all nonliquid assets unless this exclusion would bring about an 29 inequitable result; however, all income derived from this property shall be taken into 30 consideration in determining the recipient's gross income; 31 (7) inalienable shares in a Native corporation created under 43 U.S.C.
01 1601-1628 (Alaska Native Claims Settlement Act), for the period of their 02 inalienability as specified in the Act; 03 (8) Alaska longevity bonus payments under former AS 47.45; 04 (9) any other assets specifically restricted for the use of the recipient 05 by state or federal law. 06 * Sec. 5. The uncodified law of the State of Alaska is amended by adding a new section to 07 read: 08 REDUCTIONS IN LONGEVITY BONUS PAYMENTS. Notwithstanding 09 AS 47.45.010(a), the amount of each monthly longevity bonus payment payable under 10 AS 47.45.010(a)(1) - (4) shall be reduced by 11 (1) 20 percent for a payment made in fiscal year 2005; 12 (2) 40 percent for a payment made in fiscal year 2006; 13 (3) 60 percent for a payment made in fiscal year 2007; 14 (4) 80 percent for a payment made in fiscal year 2008. 15 * Sec. 6. AS 47.45.010, 47.45.020, 47.45.030, 47.45.040, 47.45.050, 47.45.060, 47.45.070, 16 47.45.080, 47.45.100, 47.45.110, 47.45.120, 47.45.122, 47.45.130, 47.45.140, 47.45.150, and 17 47.45.160 are repealed. 18 * Sec. 7. Section 5 of this Act takes effect July 1, 2004. 19 * Sec. 8. Sections 1 - 4 and 6 of this Act take effect July 1, 2008.