An Act relating to permanent fund dividend raffles; creating the senior citizen grants endowment fund and the senior citizen grants dividend raffle fund; authorizing donations from permanent fund dividends for grants to organizations that provide support for senior citizens and for entry into the senior citizen grants dividend raffle; relating to transfers from the senior citizen grants endowment fund and the senior citizen grants dividend raffle fund; relating to the duties of the Department of Revenue; and relating to the definition of 'gambling.'
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Progress
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- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill creates two new funds within the Alaska Permanent Fund: the Senior Citizen Grants Endowment Fund and the Senior Citizen Grants Dividend Raffle Fund. It allows for donations from permanent fund dividends to be used for grants to organizations supporting senior citizens and to fund a raffle where donations increase an individual’s chances of winning prizes. The bill also clarifies the definition of ‘gambling’ and outlines the Department of Revenue’s duties related to permanent fund dividends and these new funds. It establishes procedures for managing these funds and distributing grants to senior-focused organizations.
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