00                           HOUSE BILL NO. 459                                                                           
01 "An Act taxing permanent fund dividends."                                                                               
02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
03    * Section 1.  AS 43.23 is amended by adding a new section to read:                                                 
04            Sec. 43.23.087.  Permanent fund dividend tax.  An individual receiving a                                   
05       permanent fund dividend shall pay a tax of 50 percent of the amount of the dividend.                              
06       The department shall deduct the tax from each dividend.