According to Marca , The Alaska Permanent Fund, established in 1976 to manage the state’s oil revenues, continues to play a vital role in supporting Alaskan residents. Through the Permanent Fund Dividend (PFD) program, eligible residents are set to receive a payment of $1,312. Looking ahead, the payment will increase to $1,702 next year, with around 600,000 Alaskans expected to qualify.
The PFD is a unique initiative in Alaska that allocates a portion of the state’s natural resource revenues to its residents, ensuring that the financial benefits from oil and gas resources are shared directly with the people. The Alaska Permanent Fund Corporation oversees the fund, which provides a stable source of income for those who qualify.
For many families, the $1,312 payment is a crucial financial lifeline, particularly during challenging economic times. It helps cover essential expenses such as food, housing, and healthcare.
Eligibility and Application Process
To qualify for the $1,312 payment, applicants must meet certain residency requirements. They must have lived in Alaska for at least 12 consecutive months, with no intention of leaving the state. Applicants must not claim residency in any other state and must have spent at least 72 continuous hours in Alaska within the last two years.
Additionally, applicants must not have been incarcerated for a felony in the past year, or for a misdemeanor if they have prior felony convictions or multiple misdemeanor convictions since January 1, 1997.
Applications for the PFD are accepted annually from January 1 to March 31. Residents can apply online or by mail, and each family member, including children, must submit their own application. For example, a family of four would need to submit four individual applications. Parents should complete their own applications before submitting those for their children.
Payment Distribution
The $1,312 payment is part of the final distribution for the 2023 Permanent Fund Dividend. Recipients should be aware of when the Department of Revenue begins distributing 2024 PFD checks for the new year. Payments are made either by direct deposit or by check. For faster and more secure processing, many residents opt for direct deposit, while checks were mailed out starting on October 26.
For residents who have not yet received their 2023 payment and believe they are eligible, they should contact the Department of Revenue to verify the status of their application and ensure there are no issues.
The last payment for 2023 was made on October 24. Dividend requests marked as “Eligible-Unpaid” will be processed according to the official PFD website.
Dividend requests for 2024 and previous years that remain in “Eligible-Unpaid” status by November 13, 2024, will be distributed on November 21, 2024.
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