Permanent Fund Dividend Land Sale
Increasing Economic and Personal Opportunity
Friday, March 17, 2017, Juneau, Alaska - Creating a fair and equitable way for the State to offer quality land to Alaskans in exchange for their PFD is the purpose of a bill just proposed by Representative David Talerico (R-Healy).
"This combines a new revenue stream for the state and an opportunity for young Alaskans to buy and settle their own land," says Rep. Talerico. "I see this as a win-win."
Less than 5 percent of land in the state is privately owned and increasing this percentage will help grow and support local communities. The State of Alaska has thousands of acres of quality land sitting unused.
House Bill 183 will create a process where Alaskans can use their Permanent Fund Dividend to apply for a land lottery for parcels of about 10 acres. Lottery winners can pay for the land with their current and future PFD's until the fair market value is paid off.
HB 183 requires the Department of Natural Resources to create land auctions with at least 200,000 acres of State land in regions where public services exist or can be extended with reasonable economy or where there's development of a viable economic base.
"This will not solve Alaska's budget problems but it can be one small step to help with the multi-billion dollar deficit," says Rep. Talerico.
The bill has been referred to State Affairs and Resources committees.