Bill > HB255

This bill establishes two new funds: the Senior Citizen Grants Endowment Fund and the Senior Citizen Grants Dividend Raffle Fund, to support organizations that provide services to senior citizens. It allows individuals applying for their Alaska Permanent Fund Dividend (PFD) to donate a portion of their dividend to these new funds and to enter a raffle. The bill also clarifies that these PFD raffles are not considered "gambling" under state law, and it directs the Department of Revenue to prioritize donations to these senior citizen funds over other existing donation options when an applicant's PFD is insufficient to cover all elected donations. Specifically, donations to the Senior Citizen Grants Dividend Raffle Fund will be prioritized over donations to the existing education raffle fund, and donations to the education raffle fund will be prioritized over donations to the Senior Citizen Grants Dividend Raffle Fund. The bill also outlines how money in these new funds will be managed, invested, and distributed, with a portion of the endowment fund's earnings to be distributed as grants to senior support organizations and a portion of the raffle fund's donations to be used for prizes and administration, with the remainder going to the endowment fund and senior support grants. These provisions will apply to PFDs applied for on or after January 1, 2027.

Government Affairs

https://www.akleg.gov/basis/Bill/Detail/34?Root=HB255