Alaska’s Permanent Fund Dividend (PFD) program provides annual payments to eligible residents, distributing a portion of the state’s oil and mineral revenues. In 2024, the PFD amount is set at $1,702 per person, which includes a one-time energy relief payment. This article details the distribution schedule, eligibility criteria, and essential information regarding the 2024 PFD.
Distribution Schedule for the 2024 PFD
The Alaska Department of Revenue has outlined the following payment schedule for the 2024 PFD:
| Application Status Date | Payment Disbursement Date |
|---|---|
| September 20, 2024 | October 3, 2024 |
| October 18, 2024 | October 26, 2024 |
| November 13, 2024 | November 21, 2024 |
| December 11, 2024 | December 19, 2024 |
| January 8, 2025 | January 16, 2025 |
Note: Applicants must have their applications in “Eligible-Not Paid” status by the specified Application Status Date to receive payment on the corresponding Disbursement Date.
Eligibility Criteria for the 2024 PFD
To qualify for the 2024 PFD, applicants must meet the following requirements:
- Residency: Must have been an Alaska resident for the entire calendar year 2023 and intend to remain an Alaska resident indefinitely.
- Absence: If absent from Alaska for more than 180 days, the absence must fall under allowable categories as defined by the PFD program.
- Physical Presence: Must have been physically present in Alaska for at least 72 consecutive hours during 2022 or 2023.
- Legal Compliance: Must not have been sentenced or incarcerated as a result of a felony conviction during 2023, nor incarcerated for certain misdemeanors as specified by the program.
Application Process
The application period for the 2024 PFD was open from January 1 to March 31, 2024. Applicants could apply online or via paper applications available at designated distribution centers statewide. Each family member, including children, must have a separate application submitted. Parents or guardians are responsible for submitting applications on behalf of their minor children.
Purpose of the PFD and Energy Relief Payment
The PFD program was established to share the state’s oil and mineral revenues with residents, providing financial support to offset Alaska’s high cost of living and harsh winters. In 2024, the total PFD amount is $1,702, which includes:
- Permanent Fund Dividend: $1,403.83
- One-Time Energy Relief Payment: $298.17
This additional energy relief payment aims to assist residents with rising energy costs.
Economic Impact
The 2024 PFD distribution injects over $914 million into Alaska’s economy, benefiting more than 600,000 eligible residents. This infusion supports local businesses and provides financial relief to families, especially during the costly winter months.
The 2024 Permanent Fund Dividend, totaling $1,702 per eligible resident, plays a crucial role in supporting Alaskans by distributing a share of the state’s natural resource revenues. Understanding the eligibility criteria, application process, and payment schedule is essential for residents to fully benefit from this program. The inclusion of a one-time energy relief payment underscores the state’s commitment to assisting residents with rising living costs, particularly energy expenses.
FAQs
What is the amount of the 2024 Permanent Fund Dividend?
The total amount is $1,702, which includes a $1,403.83 dividend and a $298.17 one-time energy relief payment.
When will I receive my PFD payment?
Payments are disbursed on scheduled dates from October 3, 2024, to January 16, 2025, depending on when your application reaches “Eligible-Not Paid” status.
How can I check the status of my PFD application?
You can check your application status by visiting the Alaska Department of Revenue’s PFD website and accessing the “myPFD” portal.
