Stimulus update: Payment worth $1,300 to be sent in October from Alaska fund

Jack Birle September 19, 01:58 PM September 19, 01:58 PM Video Embed

Alaska residents who are eligible to receive the Permanent Fund Dividend will begin to get their 2023 payments from the program in a few weeks.

The $1,300 payment from the program, which was approved by lawmakers in Alaska earlier this year, will begin sending out payments to eligible residents in 16 days.

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The Permanent Fund Dividend for 2023 will be sent out on Oct. 5 to those who filed electronically, requested direct deposit, and had the “eligible not paid” status as of Sept. 21, according to state officials.

Alaska residents can apply for the yearly payment from Jan. 1 to March 31 of every year. Outside of the usual application timetable, there are exceptions for some people to apply at different times.

To qualify for the Permanent Fund Dividend, an applicant must be an Alaska resident who intends to remain a resident of the state indefinitely at the time of filling out the application. In addition, the applicant must also not be a convicted felon and not be claiming residency in another state during that year.

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The payment amounts for the Permanent Fund Dividend are based on the mineral revenues for the state that year, and they are sent to Alaska residents “to benefit current and future generations.”

Any residents who have yet to be paid their 2022 or earlier year dividends and are “determined eligible during this time” will also be paid on Oct. 5, according to the Alaska Department of Revenue.

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