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HB 162: "An Act increasing the amounts of the 2016, 2017, and 2018 permanent fund dividends and directing the Department of Revenue to pay a supplemental dividend to eligible individuals; and providing for an effective date."

00                             HOUSE BILL NO. 162                                                                          
01 "An Act increasing the amounts of the 2016, 2017, and 2018 permanent fund dividends                                     
02 and directing the Department of Revenue to pay a supplemental dividend to eligible                                      
03 individuals; and providing for an effective date."                                                                      
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
05    * Section 1. The uncodified law of the State of Alaska is amended by adding a new section                          
06 to read:                                                                                                                
07 SUPPLEMENTAL PERMANENT FUND DIVIDENDS. (a) The commissioner of                                                          
08 revenue shall pay a supplemental 2016 permanent fund dividend to each eligible individual                               
09 who received a 2016 permanent fund dividend. The commissioner shall determine the total                                 
10 amount of the dividend by dividing the amount appropriated by the Thirty-First Alaska State                             
11 Legislature from the earnings reserve account (AS 37.13.145) to the dividend fund                                       
12 (AS 43.23.045(a)) for payment of supplemental 2016 permanent fund dividends by the                                      
13 number of individuals who received a 2016 permanent fund dividend.                                                      
14       (b)  The commissioner of revenue shall pay a supplemental 2017 permanent fund                                     
01 dividend to each eligible individual who received a 2017 permanent fund dividend. The                                   
02 commissioner shall determine the total amount of the dividend by dividing the amount                                    
03 appropriated by the Thirty-First Alaska State Legislature from the earnings reserve account                             
04 (AS 37.13.145) to the dividend fund (AS 43.23.045(a)) for payment of supplemental 2017                                  
05 permanent fund dividends by the number of individuals who received a 2017 permanent fund                                
06 dividend.                                                                                                               
07 (c)  The commissioner of revenue shall pay a supplemental 2018 permanent fund                                           
08 dividend to each eligible individual who received a 2018 permanent fund dividend. The                                   
09 commissioner shall determine the total amount of the dividend by dividing the amount                                    
10 appropriated by the Thirty-First Alaska State Legislature from the earnings reserve account                             
11 (AS 37.13.145) to the dividend fund (AS 43.23.045(a)) for payment of supplemental 2018                                  
12 permanent fund dividends by the number of individuals who received a 2018 permanent fund                                
13 dividend.                                                                                                               
14    * Sec. 2. CONTINGENCIES. (a) Section 1(a) of this Act is contingent on passage by the                              
15 Thirty-First Alaska State Legislature and enactment into law before June 30, 2019, of an                                
16 appropriation from the earnings reserve account (AS 37.13.145) to the dividend fund                                     
17 (AS 43.23.045(a)) for the payment of supplemental 2016 permanent fund dividends.                                        
18 (b)  Section 1(b) of this Act is contingent on passage by the Thirty-First Alaska State                                 
19 Legislature and enactment into law before June 30, 2019, of an appropriation from the                                   
20 earnings reserve account (AS 37.13.145) to the dividend fund (AS 43.23.045(a)) for the                                  
21 payment of supplemental 2017 permanent fund dividends.                                                                  
22 (c)  Section 1(c) of this Act is contingent on passage by the Thirty-First Alaska State                                 
23 Legislature and enactment into law before June 30, 2019, of an appropriation from the                                   
24 earnings reserve account (AS 37.13.145) to the dividend fund (AS 43.23.045(a)) for the                                  
25 payment of supplemental 2018 permanent fund dividends.                                                                  
26    * Sec. 3. This Act takes effect immediately under AS 01.10.070(c).