Bill > SB240

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 amends existing law to clarify that a permanent fund dividend raffle is not considered "gambling" and allows individuals applying for their permanent fund dividend, which is a payment from the state's oil revenues, to donate a portion of it to these new funds or enter a raffle. The bill also outlines how donations will be distributed, with 25% going to the Senior Citizen Grants Endowment Fund, 25% to the Senior Citizen Grants Dividend Raffle Fund, and the remaining 50% to the Department of Health for grants to organizations providing meals, transportation, or supportive housing for seniors. The Senior Citizen Grants Dividend Raffle Fund will be used to pay prizes for a raffle, with a portion of its balance also being transferred to the endowment fund if it exceeds $300 million. The Department of Revenue's duties are updated to include regulations for these new donation and raffle options, and the changes will apply to permanent fund dividends applied for on or after January 1, 2027.

Health and Social Services

State Affairs (Senate)

https://www.akleg.gov/basis/Bill/Detail/34?Root=SB240