00                            SENATE BILL NO. 133                                                                         
01 "An Act authorizing an energy rebate for Alaska permanent fund dividend recipients."                                    
02 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
03    * Section 1. The uncodified law of the State of Alaska is amended by adding a new section                          
04 to read:                                                                                                                
05       ALASKA ENERGY REBATE. (a) To help residents meet the high cost of energy in                                       
06 Alaska, the Department of Revenue shall increase the amount of each 2012 permanent fund                                 
07 dividend to include an energy rebate.                                                                                   
08       (b)  Before October 1, 2012, the Department of Revenue shall calculate the amount of                              
09 the energy rebate for each permanent fund dividend recipient 18 years of age or older on                                
10 October 1, 2012, by multiplying the following three factors:                                                            
11            (1)  the quotient of the local price of heating oil divided by the base price;                               
12            (2)  the quotient of the 10-year average of local heating degree days divided by                             
13 the 10-year average of base heating degree days;                                                                        
14            (3)  the base amount of $200.                                                                                
15       (c)  A permanent fund dividend recipient under 18 years of age on October 1, 2012,                                

01 shall receive a rebate of one-half of the amount calculated under (b) of this section.                                  
02       (d)  Subject to appropriation, the amount necessary for the energy rebates to increase                            
03 the 2012 permanent fund dividend under (a) of this section shall be transferred from the                                
04 general fund to the dividend fund established under AS 43.23.045.                                                       
05       (e)  In this section,                                                                                             
06            (1)  "base heating degree days" means heating degree days in Anchorage, as                                   
07 determined by the Alaska Housing Finance Corporation;                                                                   
08            (2)  "base price" means the average annual price for the previous calendar year,                             
09 including sales tax, of number one heating oil in Anchorage as determined by the Department                             
10 of Commerce, Community, and Economic Development;                                                                       
11            (3)  "heating degree days" means the average temperature for a day minus the                                 
12 reference temperature of 65 degrees Fahrenheit;                                                                         
13            (4)  "local heating degree days" means heating degree days, as determined by                                 
14 the Alaska Housing Finance Corporation, for the location nearest to the recipient's physical                            
15 address as reported on the recipient's permanent fund dividend application;                                             
16            (5)  "local price" means the average annual price for the previous calendar year                             
17 determined by the Department of Commerce, Community, and Economic Development,                                          
18 including sales tax, of number one heating oil at the location nearest to the recipient's physical                      
19 address as reported on the recipient's permanent fund dividend application.