00 HOUSE BILL NO. 125                                                                                                      
01 "An Act relating to contributions from permanent fund dividends to the Alaska                                           
02 children's trust; and 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. 43.23.017.  Contributions from dividends.  Notwithstanding                                                       
06 AS 43.23.069, the Department of Revenue shall prepare the permanent fund dividend                                       
07 application to allow an applicant to elect to have $25 subtracted from the applicant's                                  
08 dividend for contribution to the Alaska children's trust (AS 37.14.200) and to be used                                  
09 by the Department of Revenue for administrative costs incurred by the department in                                     
10 implementing this section.  Contributions shall be deposited in an Alaska children's                                    
11 trust contribution account.  In accordance with an appropriation for the purpose, the                                   
12 department shall use money in the account to pay for the administrative costs incurred                                  
13 by the department in implementing this section.  The balance in the account shall be                                    
14 deposited by the department in the Alaska children's trust at least every six months.                                   
01    * Sec. 2.  This Act takes effect January 1, 1998.