CSHB 245(STA): "An Act relating to depositing permanent fund dividends into investment accounts; and providing for an effective date."
00 CS FOR HOUSE BILL NO. 245(STA) 01 "An Act relating to depositing permanent fund dividends into investment accounts; and 02 providing for an effective date." 03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: 04 * Section 1. AS 43.23 is amended by adding a new section to read: 05 Sec. 43.23.058. Deposits from dividends. (a) An applicant for a permanent 06 fund dividend who is eligible under this chapter to receive a permanent fund dividend, 07 or the applicant's authorized representative, may direct that the dividend payment be 08 deposited in an investment account identified by the applicant. 09 (b) The department shall design the permanent fund dividend application form 10 to allow an applicant, or the applicant's authorized representative, to direct the 11 department to make a deposit under this section, and to provide the information that 12 the department determines is necessary to implement this section. The application 13 form must notify the applicant that the applicant assumes the risk of investments made 14 under this section.
01 (c) The department may not use money from the dividend fund for 02 administrative costs incurred in implementing this section. 03 * Sec. 2. This Act takes effect January 1, 2025.