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SB 24: "An Act directing the Department of Revenue to pay dividends to certain eligible individuals; and providing for an effective date."

00                             SENATE BILL NO. 24                                                                          
01 "An Act directing the Department of Revenue to pay dividends to certain eligible                                        
02 individuals; and providing for an effective date."                                                                      
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. The uncodified law of the State of Alaska is amended by adding a new section                          
05 to read:                                                                                                                
06 PERMANENT FUND DIVIDENDS. (a) Notwithstanding AS 43.23.005, when                                                        
07 determining permanent fund dividend payments under AS 43.23.025 in 2019, 2020, and 2021,                                
08 the commissioner of revenue shall include a payment of $1,061 in 2019, $1,289 in 2020, and                              
09 $1,328 in 2021, respectively, in the permanent fund dividend to each eligible individual as                             
10 provided in (b) - (d) this section.                                                                                     
11       (b)  In this section, "eligible individual" for a permanent fund dividend during                                  
12 calendar year 2019 means an individual                                                                                  
13            (1)  who received a 2016 permanent fund dividend; and                                                        
14            (2)  eligible for a 2019 permanent fund dividend.                                                            
01       (c)  In this section, "eligible individual" for a permanent fund dividend during calendar                         
02 year 2020 means an individual                                                                                           
03            (1)  who received a 2017 permanent fund dividend; and                                                        
04            (2)  eligible for a 2020 permanent fund dividend.                                                            
05       (d)  In this section, "eligible individual" for a permanent fund dividend during                                  
06 calendar year 2021 means an individual                                                                                  
07            (1)  who received a 2018 permanent fund dividend; and                                                        
08            (2)  eligible for a 2021 permanent fund dividend.                                                            
09       (e)  The amount appropriated from the earnings reserve account (AS 37.13.145) to the                              
10 dividend fund (AS 43.23.045(a)) for payments under (a) of this section to eligible individuals                          
11 during calendar years 2019, 2020, and 2021 may not contribute to the calculation for the                                
12 2019, 2020, or 2021 dividends under AS 43.23.025.                                                                       
13    * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).