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

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

The Alaska Department of Revenue said the first mass disbursement of the $1,312 payments from the 2023 Permanent Fund Dividend will be sent to eligible Alaskans on Oct. 5.

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The first mass disbursement of the 2023 payments 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. Any Alaska resident who has yet to be paid his or her 2022 or earlier year dividends and is “determined eligible during this time” will also be paid by the state program on Oct. 5.

“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 about the 2023 payment.

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

From Jan. 1 to March 31 of each 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.

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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 and not be claiming residency in another state during that year.

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