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SB 205                                                                                                                        
SENATE BILL NO. 205 BY THE SENATE RULES COMMITTEE                                                                               
BY REQUEST OF THE GOVERNOR, entitled:                                                                                           
                                                                                                                                
               "An Act directing the commissioner of revenue to                                                                
              pay dividends to certain eligible individuals; and                                                               
          providing for an effective date."                                                                                     
                                                                                                                                
was read the first time and referred to the Finance Committee.                                                                  
                                                                                                                                
The following fiscal information was published today:                                                                           
 Fiscal Note No. 1, Department of Revenue                                                                                       
                                                                                                                                
Governor's transmittal letter dated February 18:                                                                                
                                                                                                                                
Dear President Giessel:                                                                                                         
                                                                                                                                
Under the authority of Article III, Section 18 of the Alaska                                                                    
Constitution, I am transmitting a bill that directs the payment of the                                                          
unpaid amount of the 2019 Permanent Fund dividend. The payment of                                                               

2020-02-19                     Senate Journal                      Page 1789
the unpaid amount will be distributed to eligible individuals in 2020.                                                          
An individual is eligible to receive the unpaid amount of the 2019                                                              
Permanent Fund dividend if the individual received a 2019 Permanent                                                             
Fund dividend and is eligible to receive the 2020 Permanent Fund                                                                
dividend.                                                                                                                       
                                                                                                                                
The Permanent Fund Dividend Program was established in 1980, to                                                                 
allow all Alaskans to benefit directly from Alaska’s mineral and                                                                
investment wealth. For years, the Alaska State Legislature, through a                                                           
carefully balanced statutory formula has assured a dividend payment                                                             
that keeps the Permanent Fund on a healthy financial footing, while at                                                          
the same time directly benefitting the mineral owners, Alaskans                                                                 
themselves.                                                                                                                     
                                                                                                                                
For the past four years, the statutory calculation of the dividend has                                                          
not been followed. Until such a time that the statutory calculation is                                                          
amended, I intend to follow the law and submit requests to pay the                                                              
unpaid amounts.                                                                                                                 
                                                                                                                                
I urge your prompt and favorable action on this measure.                                                                        
                                                                                                                                
Sincerely,                                                                                                                      
/s/                                                                                                                             
Mike Dunleavy                                                                                                                   
Governor