Stimulus update: Direct payment worth $1,312 from Alaska fund being sent in seven days

Alaska is slated to send another batch of one-time direct payments from the Permanent Fund Dividend to eligible residents who have yet to receive theirs in seven days.

The state is sending the next round of checks, worth $1,312 per resident, to eligible residents in the Last Frontier on Dec. 14, per the Alaska Department of Revenue.

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To be eligible for the payment, a person must intend to remain a resident of Alaska indefinitely and not be a convicted felon. The timetable for residents to apply for the program is Jan. 1 to March 31 of each year.

Payments being sent this month will go to residents who had the “Eligible-Not Paid” status on Dec. 6 and have yet to receive their 2023 or earlier payments from the state program.

The state has already delivered payments to two large swaths of people for this year, during the first two mass disbursements on Oct. 5 and Oct. 18, with a subsequent round of payments being sent to another batch of remaining eligible residents last month.

The Permanent Fund Dividend amount for each year is determined by mineral revenues for Alaska for that respective year. State officials say the program is meant to benefit current and future generations of residents in Alaska.

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

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