00                            HOUSE BILL NO. 396                                                                          
01 "An Act relating to and increasing the amount of the 2008 permanent fund dividend;                                      
02 and providing for an effective date."                                                                                   
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1. The uncodified law of the State of Alaska is amended by adding a new section                          
05 to read:                                                                                                                
06       INCREASE IN AMOUNT OF 2008 PERMANENT FUND DIVIDEND. (a) In                                                        
07 recognition of the sudden increase in energy costs and to help state residents meet the                                 
08 additional expenses, the amount of the 2008 permanent fund dividend shall be increased.                                 
09 After calculating the amount of the 2008 dividend under AS 43.23.025, the commissioner of                               
10 revenue shall add $500 to determine the total amount of the dividend.                                                   
11       (b)  Subject to appropriation, in addition to the amount required to be transferred under                         
12 AS 37.13.145(c), the Alaska Permanent Fund Corporation shall transfer from the earnings                                 
13 reserve account to the dividend fund (AS 43.23.045) the amount necessary to increase 2008                               
14 permanent fund dividends under (a) of this section.                                                                     

01    * Sec. 2. This Act takes effect immediately under AS 01.10.070(c).