03/08/2024 01:00 PM House RESOURCES

               HB 359-ONE-TIME PFD PAYMENT                                                                                  
                                                                                                                                
1:09:49 PM                                                                                                                    
                                                                                                                                
CHAIR  MCKAY announced  that  the first  order of  business                                                                     
would  be HOUSE  BILL  NO. 359,  "An  Act  relating to  the                                                                     
permanent  fund  dividend  and a  one-time  permanent  fund                                                                     
dividend  payment and land  voucher;  and providing  for an                                                                     
effective date."                                                                                                                
                                                                                                                                
1:10:09 PM                                                                                                                    
                                                                                                                                
CHAIR MCKAY opened public testimony on HB 359.                                                                                  
                                                                                                                                
1:10:31 PM                                                                                                                    
                                                                                                                                
JAMES SQUYRES, representing  self, opined that  the bill is                                                                     
poorly  thought  out and  needs  to  be  sent back  to  the                                                                     
drawing  board.   He  compared the  outcome  of the  bill's                                                                     
provisions  to a  game  of musical  chairs  where the  last                                                                     
participant will  be left out,  and future  generations are                                                                     
penalized.   He  discussed  market  value, prorations,  the                                                                     
earnings   reserve,   dedicated    funds,   and   statutory                                                                     
requirements.                                                                                                                   
                                                                                                                                
1:13:27 PM                                                                                                                    
                                                                                                                                
CHAIR MCKAY, after ascertaining  that no one else wished to                                                                     
testify, closed testimony on HB 359.                                                                                            
                                                                                                                                
1:14:30 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  MIKE CRONK,  Alaska  State Legislature,  as                                                                     
prime  sponsor, expressed  appreciation  for the  questions                                                                     
and the testimony on HB 359.                                                                                                    
                                                                                                                                
1:15:00 PM                                                                                                                    
                                                                                                                                
DAVE STANCLIFF,  Staff, Representative  Mike Cronk,  Alaska                                                                     
State  Legislature,  on  behalf  of  Representative  Cronk,                                                                     
prime sponsor,  explained that  the sponsor and  staff were                                                                     
working  with  Legislative  Legal Services  and  the  House                                                                     
Resources Standing Committee on  a number of issues such as                                                                     
appropriations,    remainder    dividends,    felons    and                                                                     
relocators,  questions  regarding  Pick  Click  Give,  jury                                                                     
lists,  eligibility   for  other   programs,  minors,   and                                                                     
"incapacitated" [individuals].  The  sponsor and staff were                                                                     
in discussion  regarding people  who come  to Alaska  for a                                                                     
year  and  leave  with  a "wallet  full  of  money."    The                                                                     
distribution  could  be  over  three or  five  years.    He                                                                     
referred to the  work of Cody Rice in  the Speaker's Office                                                                     
and  explained that  Mr. Rice  would be  presenting to  the                                                                     
committee regarding  the possibilities for metrics  such as                                                                     
a  three-year or  five-year  distribution  and the  amount.                                                                     
Questions regarding  the land credit are  being considered.                                                                     
He said these matters would  be thoroughly discussed before                                                                     
the bill comes before the committee again.                                                                                      
                                                                                                                                
1:16:26 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE SADDLER  referred to  Section 3,  lines 5-8,                                                                     
on page  2 of  the bill  and asked  whether a person  would                                                                     
have  to apply  for a  dividend  every year  after 2026  to                                                                     
maintain their residency.                                                                                                       
                                                                                                                                
1:17:08 PM                                                                                                                    
                                                                                                                                
MR. STANCLIFF acknowledged that  was one of the issues they                                                                     
are dealing  with.   He gave  the example  of a person  who                                                                     
cashed out, taking the dividend  over a three- or five-year                                                                     
period, and how that person would  have to re-apply for the                                                                     
dividend  each year.    He said  it  will  be necessary  to                                                                     
resolve questions  about programs that springboard  off the                                                                     
dividend language and dividend statistics.                                                                                      
                                                                                                                                
1:17:54 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE  MEARS  pointed  out that  constituents  are                                                                     
raising  many  questions  and  requested  that  Legislative                                                                     
Legal Services be on the line  at future hearings to answer                                                                     
those concerns.                                                                                                                 
                                                                                                                                
1:18:29 PM                                                                                                                    
                                                                                                                                
REPRESENTATIVE   CRONK  stated   that  all  questions   and                                                                     
comments are valuable  and said his office  will be working                                                                     
to address those concerns.                                                                                                      
                                                                                                                                
1:18:55 PM                                                                                                                    
                                                                                                                                
CHAIR MCKAY announced that HB 359 would be held over.