Alaska Department of Revenue Set to Distribute Permanent Fund Dividend Checks on March 21st to Eligible Residents
Eligible residents who have not yet received their payment will be receiving Permanent Fund Dividend checks from the Alaska Department of Revenue on March 21.
The 2023 Permanent Fund Dividend check amounted to $1,312 and is derived from the state’s yearly mineral revenues.
Don’t forget to submit your application for the 2024 Permanent Fund Dividend by March 31.
Applicants for the Permanent Fund Dividend must also plan to continue living in Alaska and fulfill additional criteria.
“The 2023 PFD represents the 42nd year that Alaskans have been able to benefit from the state’s natural resource wealth,” stated Alaska Department of Revenue Commissioner Adam Crum regarding the 2023 payment.
“I want to express my gratitude to the team at the Permanent Fund Dividend Division for their dedicated efforts throughout the year in managing the program and handling the applications.”
Crum stated, “We processed over 8,000 more applications this year than in 2022.” “The 2023 PFD is set to infuse almost $1 billion into Alaska’s economy, benefiting Alaskans directly.”
Alaska Votes on Residency Requirement for Fund Dividend
To be eligible for the program, an applicant must have the intention to remain a resident of Alaska indefinitely and must not have a felony conviction, along with other requirements.
The Alaska House of Representatives is set to vote on a constitutional amendment that would ensure the annual Permanent Fund dividend, possibly as early as Friday morning.
The proposal, identified as House Joint Resolution 7, requests for the dividend to be paid according to a formula specified in the law.
The formula currently in state law has not been utilized since 2016 because legislators consider it unaffordable and pass budget laws each year to work around it.
“We’re discussing a very long-term fiscal decision in this resolution,” stated Rep. Alyse Galvin, I-Anchorage.
Based on current service levels and revenue, the proposed amendment along with the current law would lead to a dividend of approximately $3,500 per individual.
However, this would come at a cost of $2.3 billion, resulting in an immediate $1.3 billion annual deficit, as reported to the Senate Finance Committee on Thursday.
Ben Carpenter, a Republican from Nikiski who authored HJR 7, mentioned that the amendment’s implementation in 2026 allows time to address the issue beforehand. Some House members express doubt.
