Bill > HB102

This bill allows Alaskans who are eligible for a Permanent Fund Dividend (PFD) to directly deposit their dividend payment into an investment account of their choice, either personally or through an authorized representative. The bill requires the Alaska Department of Revenue to modify the PFD application form to include an option for applicants to specify an investment account for their dividend deposit, and to collect any necessary information to facilitate this process. Importantly, the bill stipulates that the department cannot use money from the dividend fund to cover administrative costs associated with implementing this new option, and the application must include a clear notice that the applicant assumes all risks related to the investments made through this process. The provisions of this bill will take effect on January 1, 2026, providing state administrators time to update their systems and processes to accommodate direct investment account deposits for PFD recipients.

Government Affairs

https://www.akleg.gov/basis/Bill/Detail/34?Root=HB102