Alaska's Permanent Fund Dividend will send payments to some eligible residents in the Last Frontier in two days.
The state's Department of Revenue said it would be sending the first mass disbursement of the $1,312 payments on Oct. 5, followed by an additional disbursement later in the month to residents who do not receive their payment during the first round.
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“The 2023 PFD marks the 42nd year Alaskans have received their share of the state’s natural resource wealth. I would like to thank our Permanent Fund Dividend Division for their tireless work year-round in administering the program and processing the applications,” Alaska Department of Revenue Commissioner Adam Crum said in a statement.
“This year, we processed over 8,000 more applications than in 2022. The 2023 PFD will inject nearly $1 billion into the state’s economy and directly into the hands of Alaskans," he continued.
Eligible Alaskans who filed electronically, requested direct deposit, and had the "eligible not paid" status as of Sept. 21, per the state, will receive their payment this week. Residents who have yet to be paid his or her 2022 or earlier year dividends and are "determined eligible during this time" will also be paid by the state program on Thursday.
Mineral revenues for the state that year determine how much the Permanent Fund Dividend amount is, and the state said the program is meant "to benefit current and future generations" of Alaska residents.
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From Jan. 1 to March 31 of each year, residents in the state can apply for the program. There are exceptions for some people to apply at different times outside of the regular three-month period, per the state.
To qualify for the program, an applicant must be an Alaska resident who intends to remain a state resident indefinitely when filling out the application. The resident applying must also not be a convicted felon and not be claiming residency in another state during that year.