Bill > HB209

This bill modifies the Alaska Permanent Fund Dividend (PFD) program by introducing income thresholds for eligibility and changing how funds can be appropriated from the earnings reserve account. Specifically, the bill establishes new income qualifications for receiving a dividend: individuals must either be exempt from filing a federal income tax return or have a federal adjusted gross income of $50,000 or less for single filers (or $100,000 or less for married couples filing jointly). The bill sets a fixed dividend amount of $1,000 per eligible resident and gives the legislature more discretion in appropriating funds from the earnings reserve account, replacing previous automatic transfer mechanisms. The changes will apply to the 2025 qualifying year for the 2026 dividend year and beyond. Additionally, the bill removes some existing provisions about dividend calculations and public notices, streamlining the administrative process for the PFD program. The modifications aim to create a more targeted approach to distributing permanent fund dividends based on income levels while maintaining the fundamental structure of Alaska's long-standing dividend program.

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https://www.akleg.gov/basis/Bill/Detail/34?Root=HB209