00                            HOUSE BILL NO. 245                                                                          
01 "An Act relating to depositing permanent fund dividends into investment accounts; and                                   
02 providing for an effective date."                                                                                       
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. AS 43.23 is amended by adding a new section to read:                                                  
05 Sec. 43.23.058. Deposits from dividends. (a) An applicant for a permanent                                             
06 fund dividend who is eligible under this chapter to receive a permanent fund dividend,                                  
07 or the applicant's authorized representative, may direct that all or part of the amount of                              
08 the dividend payment be deposited in an investment account identified by the                                            
09       applicant.                                                                                                        
10 (b)  The department shall design the permanent fund dividend application form                                           
11 to allow an applicant, or the applicant's authorized representative, to direct the                                      
12 department to make a deposit under this section, and to provide the information that                                    
13       the department determines is necessary to implement this section.                                                 
14            (c)  The department may not use money from the dividend fund for                                             

01       administrative costs incurred in implementing this section.                                                       
02    * Sec. 2. This Act takes effect January 1, 2025.