Alaska 33rd Legislature (2023-2024) Status: In Committee 1 R cosponsors

HB 245 — An Act relating to depositing permanent fund dividends into investment accounts; and providing for an effective date.

Last action — (H) REFERRED TO RULES

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 33rd Legislature (2023-2024). It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

Bill Text

What changed in the latest version

18 added · 19 removed

Plain-language change summary

The changes to HB 245 allow applicants for the dividend payment to choose to have some or all of their payment deposited into an investment account of their choice. The updated bill clarifies that the state department will create an application form for this process and, importantly, removes a previous requirement that applicants be warned of investment risks. This matters because it simplifies the application process but also means that applicants may not be explicitly informed about potential risks associated with their investments.

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33-LS1136\B CS FOR HOUSE BILL NO.
33-LS1136\A HOUSE BILL NO.
245(STA) IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-THIRD LEGISLATURE - SECOND SESSION BY THE HOUSE STATE AFFAIRS COMMITTEE Referred:
245 IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-THIRD LEGISLATURE - SECOND SESSION BY REPRESENTATIVE SADDLER Introduced:
Rules Sponsor(s):
1/16/24 Referred:
REPRESENTATIVE SADDLER A BILL FOR AN ACT ENTITLED "An Act relating to depositing permanent fund dividends into investment accounts;
State Affairs A BILL FOR AN ACT ENTITLED "An Act relating to depositing permanent fund dividends into investment accounts;
(a) An applicant for a permanent fund dividend who is eligible under this chapter to receive a permanent fund dividend, or the applicant's authorized representative, may direct that the dividend payment be deposited in an investment account identified by the applicant.
(a) An applicant for a permanent fund dividend who is eligible under this chapter to receive a permanent fund dividend, or the applicant's authorized representative, may direct that all or part of the amount of the dividend payment be deposited in an investment account identified by the applicant.
The application form must notify the applicant that the applicant assumes the risk of investments made under this section.
(c) The department may not use money from the dividend fund for HB0245a -1- HB 245 New Text Underlined [DELETED TEXT BRACKETED] 33-LS1136\A administrative costs incurred in implementing this section.
HB0245b -1- CSHB 245(STA) New Text Underlined [DELETED TEXT BRACKETED] 33-LS1136\B (c) The department may not use money from the dividend fund for administrative costs incurred in implementing this section.
CSHB 245(STA) -2- HB0245b New Text Underlined [DELETED TEXT BRACKETED]
HB 245 -2- HB0245a New Text Underlined [DELETED TEXT BRACKETED]
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Action History

  1. (H) REFERRED TO RULES

  2. (H) FIN REFERRAL REMOVED

  3. (H) FN1: ZERO(REV)

  4. (H) NR: C.JOHNSON, STORY

  5. (H) DP: WRIGHT, CARPENTER, ALLARD, CARRICK, SHAW

  6. (H) STA RPT CS(STA) 5DP 2NR

  7. (H) Minutes (HSTA)

  8. (H) Moved CSHB 245(STA) Out of Committee

  9. (H) STATE AFFAIRS at 03:00 PM GRUENBERG 120

  10. (H) Minutes (HSTA)

  11. (H) Heard & Held

  12. (H) STATE AFFAIRS at 03:00 PM GRUENBERG 120

  13. (H) -- MEETING CANCELED --

  14. (H) STATE AFFAIRS at 03:00 PM GRUENBERG 120

  15. (H) STA, FIN

  16. (H) READ THE FIRST TIME - REFERRALS

  17. (H) Prefile released 1/8/24

Sponsors

Sponsorship breakdown

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1 sponsors · 0 co-sponsors · 64 not signed on

Sponsors (1)

Co-sponsors (0)

None.

Not signed on (64)

64 members have not signed on to this bill.

Show all 64 →

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Subjects

finance
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Frequently asked questions

Who sponsors HB 245?
HB 245 is sponsored by Dan Saddler (R).
What is the current status of HB 245?
This bill died with 33rd Legislature (2023-2024). It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HB 245?
Track HB 245 free on One Click Politics — get push/email alerts when it moves.

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Last checked for changes 3 months ago · updated continuously

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