On March 21st, 2024, the Alaska Department of Revenue is set to distribute checks from the Permanent Fund Dividend to a new group of qualified residents who are yet to receive their payments through the state initiative of stimulus checks.
Scheduled for that day of March, Alaskans entitled to their PFD checks include those who maintained an “Eligible-Not Paid” status as of March 13th, and who have not yet received payments from the program for 2023 or any earlier years.
Americans Countdown for the Next Stimulus Check
As of now, applications for the 2024 Permanent Fund Dividend are being accepted until March 31, and individuals can submit their forms either online or on paper. To qualify for the program, applicants must express an intention to remain a resident of Alaska indefinitely and must not have a felony conviction, among other stipulated requirements.
The state’s Permanent Fund Dividend disburses annual payments to eligible residents, the amount determined by the state’s annual mineral revenues for that specific year. The 2023 PFD check amounted to $1,312, with disbursements commencing in October.
Reflecting on the 2023 payment, Alaska Department of Revenue Commissioner Adam Crum stated, “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.” To be eligible for this year’s payment of $1,312 (payment amounts vary annually), applicants must fulfill certain criteria:
- Be a legal resident of Alaska
- Physically present in the state for a majority of the year
- Have never been convicted of a felony
While payments for 2024 are not slated to arrive until October, applications for these checks are currently open and must be completed by March 31.
The Alaska Permanent Fund Dividend (PFD)
This is a program designed to distribute a portion of the state’s oil wealth directly to its residents, ensuring that all Alaskans, both present and future, can benefit from the state’s natural resources.
Eligibility for the PFD involves meeting several criteria. To qualify, individuals must have been a resident of Alaska for an entire calendar year (from January 1 to December 31), express the intention to remain a resident of Alaska, and not have certain felony or misdemeanor convictions.
The operational mechanism of the program involves investing a percentage of the state’s oil revenue into the Permanent Fund. The earnings generated from this fund are then utilized to pay out the annual dividend to eligible residents. The specific amount of the dividend varies each year, contingent on the performance of the fund.