Permanent Fund Dividend Update for Alaskans
Hundreds of thousands of Alaskans will soon receive $1,200 in Permanent Fund dividends and energy relief payments. The Alaska Department of Revenue announced that eligible residents, totaling nearly 600,000, will start receiving their payments on October 1, with a second round expected on October 22.
The estimated breakdown includes a $1,000 dividend for eligible Alaskans plus a one-time $200 energy relief payment, based on the approved state budget in May.
Governor Mike Dunleavy advocated for a much higher payout of $3,650 per person but ultimately signed the budget in June, which did not follow his proposed spending plan and would have incurred a $1.8 billion deficit from state savings.
Since 2016, the Legislature has diverted from the statutory formula for calculating dividends and increasingly relied on Permanent Fund revenue to cover state services in light of decreasing oil revenues. This annual payment, drawn from Alaska’s nearly $88 billion Permanent Fund, has become a point of contention regarding the distribution between Alaskans and funding for government services.
Eligibility Requirements
To qualify for the dividend, applicants must:
- Have resided in Alaska throughout the previous calendar year.
- Have no felony convictions or incarceration related to a felony.
- Not have been outside Alaska for more than 180 days, barring specific exceptions.
Residents can check the status of their PFD application online at the official PFD website.
