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

Another set of eligible Alaskans is set to receive one-time direct payments from the Permanent Fund Dividend, worth up to $1,312 per resident, in six days.

The next round of checks will be sent to eligible residents in the Last Frontier on Thursday, according to the Alaska Department of Revenue, continuing distribution for this year’s payment, which began in October. Three large swaths of people already received their payments from the program for 2023 in October and November.

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

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

“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.

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“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.”

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