(The Center Square) – The Alaska Department of Revenue will mail out the third round of permanent fund dividends this week.
The $1,312 payments approved by lawmakers in a one-day special session earlier this year are derived from the state’s mineral revenues.
Last year, Alaskans received $3,284. Budget challenges led lawmakers to approve a smaller payment for 2023. The lower PFD contributed to lawmakers not drawing on the state’s reserves to meet its $6.2 billion budget.
A drop in oil prices was blamed for the shortfall. The state relies on oil sales and investments to fund its budget.
The DOR determined that more than 600,000 Alaskans are eligible for the payments, according to the agency.
“This year, we processed over 8,000 more applications than in 2022,” DOR Commissioner Adam Crum said in a statement issued before the first payments were sent in October. “The 2023 PFD will inject nearly $1 billion into the state’s economy and directly into the hands of Alaskans.”
Alaskans have collected the payments since 1976.
This week’s payments are for residents deemed eligible on Dec. 6 but have not received them. PFDs were also distributed in October and November. The last distribution date for the 2023 payments is Jan. 18, 2024, according to the DOR.
