Legislature(1993 - 1994)
1993-04-29 Senate Journal
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Full Journal pdf1993-04-29 Senate Journal Page 1921 SCR 9 Zero fiscal note published today from the Senate Rules Committee. CONSIDERATION OF THE CALENDAR CONTINUED SECOND READING OF HOUSE BILLS CONTINUED HB 81 SENATE CS FOR CS FOR HOUSE BILL NO. 81(RLS) was read the second time. Senators Kerttula, Donley, Little, Ellis offered Amendment No. 1 : Page 1, line 1, through page 4, line 16: Delete all material and insert: ""An Act amending and making effective an annuity program and amendments to the longevity bonus program and the permanent fund dividend program provided for in secs. 2 - 18, ch. 99, SLA 1985; and providing for an effective date." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA: * Section 1. AS 43.23.005(d), as enacted by sec. 3, ch. 99, SLA 1985, is amended to read: (d) A person who is eligible to receive a permanent fund dividend under this section, or who is authorized to claim a dividend on behalf of another under (c) of this section, may elect to receive the dividend either in cash or as an annuity credit. Alternatively, a person may elect to receive 25 percent, 50 percent, or 75 percent of the dividend in cash and the remainder as an annuity credit. A person who is 65 years of age on or before January 1, 1995, [1988] may only receive the permanent fund dividend in cash and may not elect to receive an annuity credit. * Sec. 2. AS 43.23.110(a), as enacted by sec. 16, ch. 99, SLA 1985, is amended to read: (a) The annuity investment fund is established as a separate fund in the state treasury. The annuity investment fund consists of