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SB 92: "An Act relating to contributions from permanent fund dividends to the general fund."

00 SENATE BILL NO. 92 01 "An Act relating to contributions from permanent fund dividends to the general fund." 02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 03 * Section 1. AS 43.23.130(a) is amended to read: 04 (a) Notwithstanding AS 43.23.200, the Department of Revenue shall prepare 05 the electronic Alaska permanent fund dividend application to allow an applicant who 06 files electronically to direct that money be subtracted from the dividend payment and 07 contributed to the crime victim compensation fund (AS 18.67.162), the peace officer 08 and firefighter survivors' fund, the general fund, or one or more of the educational 09 organizations, community foundations, or charitable organizations that appear on the 10 contribution list contained in the application. A contribution to the crime victim 11 compensation fund, the peace officer and firefighter survivors' fund, the general fund, 12 or to an organization may be $25, $50, $75, $100, or more, in increments of $50, up to 13 the total amount of the permanent fund dividend that the applicant is entitled to 14 receive. If the total amount of contributions elected by an applicant exceeds the 15 amount of the permanent fund dividend that the applicant is entitled to receive,

01 contributions shall be deducted from the dividend in the order of priority elected by 02 the applicant on the application until the entire amount of the dividend that the 03 applicant is entitled to receive is allocated for contribution. The electronic dividend 04 application form must include notice that seven percent of the money contributed will 05 be used for administrative costs incurred in implementing this section, and money 06 from the dividend fund will not be used for that purpose. 07 * Sec. 2. AS 43.23.130(b) is amended to read: 08 (b) The department shall list each educational organization, community 09 foundation, or charitable organization eligible under (c) and (d) of this section, each 10 university campus that applies under (l) of this section, the crime victim compensation 11 fund, [AND] the peace officer and firefighter survivors' fund, and the general fund 12 on the contribution list. The department shall maintain an electronic database for the 13 contribution list that is accessible to the public and that permits searches by 14 organization or fund name, geographic location, and type. The department shall 15 provide a statement of the contributions made by an individual that is suitable for 16 federal income tax purposes to each individual who elects to contribute under (a) of 17 this section. 18 * Sec. 3. AS 43.23.130(j) is amended to read: 19 (j) By January 20 of each year, the department shall prepare a report 20 identifying the organizations and funds on the contribution list for the immediately 21 preceding year, together with the amount of contributions made to each of the 22 organizations and funds, and shall notify the legislature that the report is available. 23 * Sec. 4. AS 43.23.130(m) is amended to read: 24 (m) In addition to the application fee in (f) of this section, the department shall 25 withhold a coordination fee from each organization, foundation, or university campus 26 that receives contributions under this section in the immediately preceding dividend 27 year. The coordination fee for an organization, foundation, or university campus that 28 receives contributions under this section shall be seven percent of the amount of 29 contributions reported by the department under (j) of this section for the organization, 30 foundation, or university campus for the immediately preceding dividend year. The 31 coordination fee shall be separately accounted for under AS 37.05.142 and shall be

01 accounted for separately from the application fee collected under (f) of this section. 02 The annual estimated balance in the account maintained under AS 37.05.142 for 03 coordination fees collected under this subsection may be appropriated for costs of 04 administering this section. The department may not withhold a coordination fee for 05 contributions to the crime victim compensation fund, [OR] the peace officer and 06 firefighter survivors' fund, or the general fund.