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.