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 Senate
- Passed House
- 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 enter participants into a chance to win prizes. The bill also modifies existing laws regarding permanent fund dividends, including defining ‘gambling’ and outlining the Department of Revenue’s duties. It establishes procedures for applying for and receiving prior year dividends and clarifies how donations are allocated.
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