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.'

SB 240 creates two new funds using Alaska's permanent fund dividends: a senior citizen grants endowment fund to provide direct grants to organizations supporting seniors, and a senior citizen grants dividend raffle fund that offers free raffle entries to seniors. The bill redirects permanent fund dividends toward these funds, allowing organizations serving seniors to receive grants and enabling seniors to enter raffles for potential prizes. It also explicitly defines the raffle as non-gambling under state law, excluding it from standard gambling regulations. This policy directly affects seniors (through free raffle entries) and senior support organizations (through grant funding), using existing permanent fund resources without new taxes.