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

Alaska residents who are eligible for the 2023 Permanent Fund Dividend will begin to see their direct payment from the program in seven days.

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

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“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.

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

In order to qualify for direct payment from the state, 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.

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

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