$1,702 Stimulus Payment: Alaska is distributing special $1,702 payments to residents this year through its Permanent Fund Dividend program. This funding, derived from Alaska’s oil revenue, goes directly to state residents. The payment reflects an increase of approximately 30% compared to last year’s amount.
The payment consists of two components:
- A standard dividend payment of $1,403.83
- An additional energy assistance check of $298.17 to aid with elevated energy expenses
$1,702 Stimulus Payment: Eligibility
- You must have resided in Alaska for the entirety of the previous year and intend to remain there
- You need to have spent a minimum of 72 hours in Alaska at any point over the past two years
- You should not have any significant criminal convictions
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The state of Alaska has stated, “The application deadline is March 31.” Residents can submit their applications online at pfd.alaska.gov or send them via mail. Special provisions exist for military personnel, individuals with disabilities, or those applying on behalf of a deceased person. Such individuals are encouraged to contact the Alaska Department of Revenue for assistance.
This program was initiated in 1976 to distribute Alaska’s oil revenue among its residents. It assists families in managing their expenses and stimulates the local economy as residents spend this money within their communities.
The opportunity to apply for this year’s payment is limited. Alaska residents who have yet to apply should do so before March 31 to receive their $1,702. Once the application is submitted, most applicants receive their payment in October, provided they are approved.
