Alaska… are you ready for what’s coming? The state is planning to distribute a $1,312 stimulus check in December as part of a new program called the “Permanent Fund Dividend” (PFD). Only a few will benefit from this amount of money because this benefit is derived from income from natural resources (such as oil, for example). Now we’ll explain more and if you qualify for this payment. Get ready to close the year in the best way!
What is the PFD?
The Permanent Fund Dividend is a program that is unique to Alaska. It was first created in 1976 with the goal of managing oil profits so that they can be distributed directly among its inhabitants. Basically, Alaska distributes the money generated by the exploitation of natural resources in the state among its residents.
How does this income work?
The state of Alaska invests, each year, the income obtained from the exploitation of these resources (commonly gas and oil) in financial markets, and, as simple as that, the money generated each year is divided among the residents of the state.
How much will be given this year?
This year, the dividend will put $1,312 into the wallets of Alaska residents (who apply and meet the requirements), and it will arrive this December! And not only that, next year, approximately 600,000 residents will benefit from a larger amount, which in their case will be $1,702. Don’t tell us that some extra money wouldn’t come in handy at this time of year.
When will I receive this payment?
Well, keep a close eye on your account and the PFD payment schedule, because if your dividend request is marked as “Eligible-Not Paid” by December 11, 2024, it will be processed on December 19, 2024, and if it remains in that status by January 8, 2025, the payment will be made on January 16, 2025.
In short, depending on when it remains in that status, you will receive your payment on one of these two dates: December 19, 2024 or January 16, 2025.
How do I know I can receive the payment?
To receive this check, you must meet certain conditions:
- Be a legal resident of Alaska
- Have lived in the state for at least 12 consecutive months in this state and have no immediate plans to move.
- Have not applied for residency in another state or country.
- Have not received benefits derived from residency outside of Alaska.
- Have stayed at least 72 consecutive hours in Alaska during the last 24 months.
- Have not been incarcerated for serious crimes in the last year.
- Have no history of serious crimes or more than two misdemeanours since 1997.
Important information to know
Applications for the PFD must be made between January 1 and March 31 of each year. An application must be submitted for each family member, including minors.
Payments will be made, as we have said before, between December 11 and 19, and January 16.
So, now you know all the details to benefit from this payment for having been lucky enough to have been born or reside in Alaska. This is a wonderful way to share the wealth of the state among the families who make it possible every day. For many families, it is an opportunity to make an extra expense now that the season of gifts is coming, and this show of commitment by the State makes everything easier. Apply now and enjoy this money!