QUALIFIED Americans will soon see direct deposits totaling $1,702.
The final payments are expected to be processed within the next week.
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Alaska residents are set to receive their annual stimulus checks shortly, and there’s only a few days left to apply.
Individuals who have lived in Alaska for over a year are eligible for the Permanent Fund Dividend (PFD) offered by the state.
The funding for the PFD stems from a system that regulates the state’s oil revenues, with a portion of the royalties being distributed to loyal Alaska residents.
The application period spans from January 1 to March 31.
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The dividend assists in augmenting the income of Alaskans who intend to stay in the state long term.
The PFD also acts as an economic stimulant and rewards residents for their commitment to Alaska.
HOW TO CLAIM IT
Residents of Alaska who meet the criteria can set up their MyAlaska account on the state’s government website to access their benefits.
Deposits have already started appearing in accounts, but there is still time to apply.
Qualified residents who finalize the application process by March 31 will receive payments totaling $1,702.
Applicants can track their deposit status via the MyAlaska website.
HOW TO QUALIFY
Eligibility for the PFD is not universal among Alaska residents.
To qualify for the dividend, applicants must have lived in Alaska for the entire year preceding their application.
This indicates that for this year’s payout, individuals must have consistently resided in the state throughout 2024.
Furthermore, they must not have established residency in another state or country or received benefits associated with such a residency claim since December 31, 2023.
Individuals who have been convicted of a felony within the past year, or who have been incarcerated due to a felony or misdemeanor, are disqualified from receiving the payment.
Additionally, applicants must have spent at least 72 consecutive hours in Alaska during each of the past two years.
Lastly, they cannot have been outside the state for more than 180 days.
WHAT IT’S FOR
The dividend encourages loyalty to Alaska and motivates residents to stay in the state.
Having a stable, long-term population contributes to economic growth and helps to maintain the state’s demographic balance.
The stimulus also recognizes residents for their contributions to Alaska’s advancement.
Moreover, the program promotes a sense of pride and fortifies community connections among those who call Alaska home.
