Gov. Sarah Palin signed legislation into law Monday to pay each qualified Alaska resident a $1,200 "resource rebate," or personal share of the state's multibillion-dollar oil revenue surplus.

Palin signed the rebate bill and a related appropriations bill to fund the payment, which will be tacked onto Permanent Fund dividends. The appropriations bill includes $60 million to continue a home weatherization program.

Palin proposed the $1,200 rebate in June, suggesting Alaskans could use the money to help relieve the surging costs of fuel and heating.

The legislation also suspends the state's motor fuel tax for a year _ an 8-cent tax on highway gasoline and a 5-cent tax on marine fuel, as well as taxes on aviation fuel.

The legislation also includes $23 million to expand the state's Power Cost Equalization program, which helps rural residents defray electric power costs that typically are much higher than in cities.

Read the full story at adn.com.