Some Alaska residents could find themselves more than $1,000 richer within the next week simply for intending to continue living there.
Alaskans eligible for Permanent Fund Dividend payments will receive checks for $1,312 by Thursday, April 18 if they have not already done so, authorities in the state have announced. Permanent Fund Dividend payments are sent to Alaska residents that have lived within the state for a full calendar year, from January 1 to December 31, and intend to remain an Alaska resident indefinitely.
Those who have not yet received their checks from 2023 or earlier and have “Eligible-Not Paid” status on their Permanent Fund Dividend account as of April 10 should have their check by next Thursday, April 18.
There are some caveats to eligibility: you cannot have been imprisoned or sentenced on felony charges during the calendar year to which the dividend applies, and you cannot leave Alaska for more than 180 days in total.
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According to a press release issued in September last year, more than 600,000 Alaskans are eligible to receive the checks for 2023, though a portion of these are likely to have already been paid. Newsweek has contacted the Alaska Department of Revenue for comment via email outside of normal working hours.
“The 2023 PFD marks the 42nd year Alaskans have received their share of the state’s natural resource wealth,” Alaska Department of Revenue Commissioner Adam Crum said in the September 2023 statement. “I would like to thank our Permanent Fund Dividend Division for their tireless work year-round in administering the program and processing the applications.”
“This year, we processed over 8,000 more applications than in 2022,” Crum added. “The 2023 PFD will inject nearly $1 billion into the state’s economy and directly into the hands of Alaskans.”
The checks have been paid since 1982, when a huge expansion of the oil industry in Alaska led to the creation of the Permanent Fund to preserve some of its oil wealth for future generations. Alaska’s constitution stipulates that at least 25 percent of mineral lease rentals, royalties and other income related to oil and mineral development go into the fund. However, the fund dividend being paid to the public is not part of the constitution.
Applications to receive the fund dividend for 2024 are no longer open, having closed on March 31, according to the Alaska Department of Revenue website. The amount to be distributed for 2024 is not yet known, although state Governor Mike Dunleavy’s budget plans indicate the amount could more than double to $3,000 per person.
As part of his plans, $2.3 billion would be allocated for Permanent Fund Dividends. In a press release issued in December 2023, he said: “As Governor, I swore an oath to uphold the Constitution and the laws of Alaska. As long as a statute remain on the books, my administration and my budget proposals will uphold it, and this includes proposing a full statutory Permanent Fund Dividend.”
Additional information regarding the Permanent Fund Dividend, including eligibility requirements and how you can apply, can be found on the state’s website.
Uncommon Knowledge
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Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.