HB 481: "An Act relating to application for and payment of permanent fund dividends of certain deceased individuals; and providing for an effective date."
00HOUSE BILL NO. 481 01 "An Act relating to application for and payment of permanent fund dividends of 02 certain deceased individuals; and providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 43.23.005 is amended by adding a new subsection to read: 05 (h) If an individual who would otherwise have been eligible for a permanent 06 fund dividend dies after applying for the dividend but before the dividend is paid, the 07 department shall pay the dividend to a personal representative of the estate or to a 08 successor claiming personal property under AS 13.16.680. If an individual who would 09 otherwise have been eligible for a dividend and who did not apply for the dividend 10 dies during the application period, a personal representative of the estate or a successor 11 claiming personal property under AS 13.16.680 may apply for and receive the 12 dividend. Notwithstanding AS 43.23.011, an application for a dividend under this 13 subsection may be filed during the period that begins January 2 and ends July 31 of 14 that dividend year.
01 * Sec. 2. AS 43.23.025(a) is amended to read: 02 (a) By October 1 of each year , the commissioner shall determine the value of 03 each permanent fund dividend for that year by 04 (1) determining the total amount available for dividend payments, 05 which equals 06 (A) the amount of income of the Alaska permanent fund 07 transferred to the dividend fund under AS 37.13.145(b) during the current year; 08 (B) plus the unexpended and unobligated balances of prior fiscal 09 year appropriations that lapse into the dividend fund under AS 43.23.045(d); 10 (C) less the amount necessary to pay dividends from the 11 dividend fund in the current year under AS 43.23.055(3) and (7); 12 (D) less the amount necessary to pay dividends from the 13 dividend fund due to eligible applicants who, as determined by the department, 14 filed for a previous year's dividend by the filing deadline but who were not 15 included in a previous year's dividend computation; 16 (E) less appropriations from the dividend fund during the 17 current year, including amounts to pay costs of administering the dividend 18 program and the hold harmless provisions of AS 43.23.075; 19 (2) determining the number of individuals eligible to receive a dividend 20 payment for the current year and the number of estates and successors eligible to 21 receive a dividend payment for the current year under AS 43.23.005(h) ; and 22 (3) dividing the amount determined under (1) of this subsection by the 23 amount determined under (2) of this subsection. 24 * Sec. 3. PERMANENT FUND DIVIDENDS FOR CERTAIN ESTATES. 25 Notwithstanding provisions relating to application periods, a personal representative of an 26 estate that, or successor who, under AS 43.23.005(h), added by sec. 1 of this Act, qualifies 27 for and has not received a dividend for 1997 or 1998, may apply for the dividend during the 28 1999 application period. The Department of Revenue shall prescribe and furnish an 29 application form for claiming a dividend under this section. 30 * Sec. 4. Section 1 of this Act is retroactive to January 1, 1997. 31 * Sec. 5. Sections 1, 3, and 4 of this Act take effect immediately under AS 01.10.070(c).
01 * Sec. 6. Section 2 of this Act takes effect January 1, 1999.