Juneau, Alaska (KINY) - An education raffle will be new for the 2019 Alaska Permanent Fund Dividend application.
Permanent Fund Division Director Sara Race and Administrative Operations Manager Anne Weske said on Action Line that the addition is the result of a bill approved by the Legislature.
They say applicants can buy an entry into the raffle for $100. Seventy-five percent will go directly into education with fifty percent going to public education and twenty-five percent to an education endowment. The balance goes to the raffle.
Four drawings will be made with the first one drawn winning eight percent of the raffle fund. Second place is four percent; third prize, two percent; and fourth prize, one percent.
They say an applicant can choose to use their entire dividend for the raffle.
Any money not paid out will carry forward to the next year.