The application period for claiming the Alaska stimulus check will finish in five days. The Permanent Fund Dividend (PFD) is encouraging all eligible Alaskan residents to provide the required information before the deadline so that they won’t miss out on the $1,312 stimulus check. Since January, applications have been accepted for the state program. To receive payment later this year, almost all people must apply within the current three-month window.
However, certain Alaskans may apply outside of this window under specific circumstances. The state’s website lists some exclusions. Currently, through this scheme, qualifying residents of the “Last Frontier” can receive a yearly direct payment based on Alaska’s resource revenues for that particular year. It’s important to highlight that the Permanent Fund Dividend (PFD) pays a different amount every year; the payments made last year totaled $1,312. October saw the start of the distribution of the 2023 checks to qualified residents, and those who have not yet received their checks from the state are still receiving them.
Alaska Stimulus Check payment eligibility
The PFD will provide a yearly stimulus check dividend to all Alaska residents who meet the following eligibility requirements:
- By December 6, 2023, they should be in “Eligible-Unpaid” status.
- Individuals should not have received any payments from the 2023 Permanent Fund Dividend before applying for the stimulus check.
- They must have lived in Alaska for the entire calendar year (January 1st through December 31st) and want to stay indefinitely.
- Residents could not have been imprisoned or sentenced on felony charges this year.
The Alaska stimulus check fluctuates throughout the year
The stimulus check from the Permanent Fund Dividend (PFD) is a crucial financial boost for most Alaskan residents. This stimulus check offers them a yearly extra amount of money so they can offset the high cost of living and fill the gap left by the absence of a state income tax. Besides supporting residents’ basic needs and unexpected expenses, the Alaska stimulus check also injects money into the local economy, fostering business growth and a sense of shared ownership in Alaska’s oil wealth for all residents.
The fund makes annual payments to qualified residents of this state who have previously applied for and met the PFD requirements. Alaskans must keep in mind, however, that the size of the stimulus check is determined by the fund’s performance, which varies annually. The annual Permanent Fund Dividend (PFD) distribution payments began on January 18 and terminated on February 15th. Qualified applications that are unpaid by March 14 will be repaid on March 21.
Stimulus check payment schedule for 2024
- February 15th: Dividend applications for 2023 that remain in the “Eligible-Not Paid” status on February 7, 2024.
- March 21st: Dividend applications for 2023 that remain in the “Eligible-Not Paid” status on March 13, 2024.
- April 18th: Dividend applications for 2023 that remain in the “Eligible-Not Paid” status on April 10, 2024.
Proposals to modify the Permanent Fund Dividend (PFD)
The Alaska Senate passed a new dividend formula last year, which was later revised and is now before the House Finance Committee. This year, no measures related to the dividend formula were debated. House members considered and rejected amendments to House Joint Resolution 7, which proposed revisions to Alaska’s Constitution.
Some of the proposals that were rejected included prohibiting dividends for those who were unemployed or earned more than $150,000 per year. Rep. Dan Ortiz, I-Ketchikan, presented legislation that would have directly put a dividend formula in the constitution rather than depending on state law. However, rather than offering a fixed distribution, Ortiz’s proposal allowed state legislators a sliding scale of options, implying that the dividend amount would still be up to annual debate.