00 CS FOR SENATE BILL NO. 254(FIN)                                                                                       
01 "An Act relating to the exemption from levy, execution, garnishment, attachment,                                        
02 or other remedy for the collection of debt as applied to a permanent fund                                               
03 dividend."                                                                                                              
04 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                               
05    * Section 1.  AS 43.23.065(a) is amended to read:                                                                  
06  (a)  Except as provided in (b) of this section,  20  [45] percent of the annual                                     
07 permanent fund dividend payable to an individual is exempt from levy, execution,                                        
08 garnishment, attachment, or any other remedy for the collection of debt.  [THIS                                         
09 EXEMPTION APPLIES TO AN ELIGIBLE INDIVIDUAL'S PERMANENT FUND                                                            
10 DIVIDEND BOTH BEFORE AND AFTER PAYMENT IS MADE TO THE                                                                   
11 INDIVIDUAL.]  No other exemption applies to a dividend. Notwithstanding other                                           
12 laws, a writ of execution upon a dividend that has not been delivered to the debtor                                     
13 may be served on the commissioner by certified mail, return receipt requested.  Upon                                    
14 receipt of a writ by certified mail, return receipt requested, the commissioner shall                                   
01 deliver that portion of the dividend executed upon to the court along with the case                                     
02 name and number.