In February 2025, a Stimulus Check will be issued to residents of Alaska, providing much-needed financial relief, especially for low-income individuals facing the impacts of inflation.
Officials from the Alaskan Oil and Gas Income Distribution program have announced that this year’s Permanent Fund Dividend payment will be nearly 30% higher than last year’s, promising to invigorate local economies and alleviate financial burdens for countless families.
Alaskan Permanent Fund Dividend Stimulus Checks are being distributed
The Alaskan Permanent Fund Dividend (PFD) program distributes profits earned from state oil and gas resources among residents. Each year, a Stimulus Check is distributed via the Oil and Gas Income Distribution program, with the amount influenced by the total revenue generated.
The PFD check for 2024, to be issued in February 2025, amounts to $1,702. This reflects an increase of approximately $400 from the previous year’s payment of $1,312, attributed to robust state economic performance and the government’s commitment to redistributing state resource profits to residents.
After multiple discussions with the House of Representatives, Alaska Governor Mike Dunleavy confirmed the funding, revealing that profits from natural resource sales reached $914 million in 2024.
Eligibility criteria for the 2024 PFD Stimulus Check
The following are the requirements to qualify for the Alaskan Permanent Fund Dividend Stimulus Checks:
- Applicants must be registered residents of Alaska.
- They must have resided in the state for the full year leading up to the application date.
- Applicants should intend to remain a resident of Alaska indefinitely.
- They must not have applied for residency in another state or country.
- They should have no immediate plans to leave Alaska.
- Individuals incarcerated for a felony or certain misdemeanors for the past 12 months are ineligible.
State revenue officials have reported that over 600,000 Alaskans are eligible for this round of PFD funding. The 2025 distribution amount is calculated based on the earnings reserve account of the fund, which totaled a significant $914,315,845.
The total payout is $1,702, which includes $298.17 designated for energy assistance and $1,403.83 as the PFD share. Recent severe winter snowstorms prompted the state government to increase the 2024 Stimulus Check to help offset energy and heating costs for residents.
Initial PFD proposal was higher
In December 2024, Governor Mike Dunleavy proposed a dividend amount of $3,500 to address an anticipated billion-dollar deficit. However, the state legislature opted for a more conservative figure. The State House had initially approved approximately $2,300 in April, but with a lingering estimated deficit of $270 million, unexpected increases in oil revenue led to a final figure of $1,702.
Additionally, eligible Americans can expect other payments in February, such as the Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refunds from the IRS.
Key dates for application and payment distribution
Applications for PFD funding opened on January 1, 2025, and will close on March 31. Alaskan residents who have submitted their applications and are assessed as “Eligible-Not-Paid” will receive their deposits on February 20.
There is still time to apply if you haven’t done so, and the application process can be completed on the official Alaskan Permanent Fund Dividend website (pfd.alaska.gov). Late applicants will see payments distributed in October. Adhering to these application timelines is crucial for receiving funds as soon as possible, and the PFD website also provides tracking for any updates regarding the Alaskan Permanent Fund Dividend.
In further positive news for Alaskans, there are 13 states in the US that are more favorable for retirees from a tax perspective, and Alaska is among them.
