Alaska’s Permanent Fund Dividend program will distribute $1300 stimulus checks starting August 15, with funds from oil revenues.
Alaska’s Permanent Fund Dividend Program to Distribute $1300 Stimulus Checks
Alaska is set to help its residents with $1300 stimulus checks starting August 15. This money comes from the state’s Permanent Fund Dividend (PFD) program which gives back money from Alaska’s oil revenues. The payment includes $300 upfront and another $1000 later. The PFD, started in 1976, is different from other temporary federal aid because it regularly shares oil profits directly with Alaskans, according to the report of Marca.
(photo: MIRA)
To Get the $1300 Check, Alaska Residents Must Meet These Conditions
To get the $1300 check residents need to have lived in Alaska all last year and applied by March 31. The program, run by the Alaska Permanent Fund Corporation, works like a steady income supporting local businesses and helping low-income families. It provides a regular financial boost to Alaskans unlike one-time federal payments.
The PFD makes a big difference by adding around one billion dollars to Alaska’s economy each year and helping reduce poverty. It is especially helpful in rural areas where jobs are scarce. As residents look forward to their payments and the PFD shows how sharing state resources can be a successful way to support people and inspire other places to consider similar programs.
