Stimulus update: Direct payment worth $1,312 to be sent from Alaska fund in six days

Eligible residents in Alaska will begin to see their direct payments from the 2023 Permanent Fund Dividend in six days.

The $1,312 payments from the program’s first disbursement will be sent to eligible Alaskans on Oct. 5, per the Alaska Department of Revenue.

ALL EYES TURN TO GAVIN NEWSOM AS DIANNE FEINSTEIN DEATH CREATES SENATE VACANCY

“The 2023 PFD marks the 42nd year Alaskans have received their share of the state’s natural resource wealth. I would like to thank our Permanent Fund Dividend Division for their tireless work year-round in administering the program and processing the applications,” Alaska Department of Revenue Commissioner Adam Crum said in a statement.

“This year, we processed over 8,000 more applications than in 2022,” he added. “The 2023 PFD will inject nearly $1 billion into the state’s economy and directly into the hands of Alaskans.”

The state said the first round of payments for 2023 will be sent to residents who filed electronically, requested direct deposit, and had the “eligible not paid” status as of Sept. 21, according to the state. In addition to this disbursement, those who have yet to be paid 2022 or earlier year dividends and are “determined eligible during this time” will be paid by the state program on Oct. 5.

From Jan. 1 to March 31 of every year, residents in the Last Frontier can apply for the program. Outside of the annual three-month application timetable, there are exceptions for some people to apply at different times.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

To be eligible for the direct payment, an applicant for the Permanent Fund Dividend must be an Alaska resident who intends to remain a resident of the state indefinitely at the time of filling out the application. In addition to this requirement, the applicant must also not be a convicted felon or be claiming residency in another state during that year.

The state determines the amount of the Permanent Fund Dividend based on mineral revenues for each year, with Alaska officials saying the program is meant “to benefit current and future generations” of Alaska residents.