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Sponsor Statement for HB 493
Okay To Assign PFD To Nonprofit Corp

An Act relating to assignments of permanent fund dividends; and providing for an effective date.

House Bill 493, the Good Neighbor Act, allows a Permanent Fund Dividend to be assigned to an organization that qualifies for nonprofit status, or is exempt from federal taxation.

Alaskans who regularly contribute to nonprofits and religious organizations requested this option to assign a dividend directly to these entities. Currently, Permanent Fund Dividends may be assigned to a federal, state, or municipal government agency, or to a court.

HB 493 promotes the spirit of charitable giving by Alaskans.

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