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.'

HB 255 creates two new funds: a senior citizen grants endowment fund and a senior citizen grants dividend raffle fund. It authorizes using Alaska's permanent fund dividends (annual payments to residents) to provide grants to organizations supporting seniors and to fund entries into a senior citizen raffle. The bill also amends the state's gambling definition to explicitly exclude these permanent fund dividend raffles from being classified as gambling. This directly affects senior citizens by redirecting existing dividend payments toward support services and a raffle program, while clarifying the legal status of the raffle.