The Alaskan Citizens will get the benefit from the $1,200 Stimulus Checks to improve their living standards. Citizens who have already applied for the stimulus checks will receive their checks in less than two weeks with amounts up to $1,314.
The government of Alaska has launched this program to provide financial funds, which are collected as the earnings of oils generated in 2024. This program, also known as the 2024 Permanent Fund Dividend, is very important and helpful for the citizens.
$1,200 Stimulus Checks
The Permanent Fund Dividends are payments that are given as immediate relief to the affected citizens. They started paying stimulus checks to the citizens in October 2023 and made the payments in May 2024; there were different changes made in the plan for 2024 citizens.
$1200 Stimulus checks will give stable income and safety to the citizens. It is expected that the eligible citizens can receive the benefits starting from the 16th of May, 2024. However, there has been no confirmation about the payment dates from the officials.
Permanent Fund Dividend (PFD) stimulus check Details
| Country | United States of America |
| Artilce | $1200 Stimulus Checks |
| Stimulus Payment | $1200 |
| Date | May 2024 |
| Category | Government Aid |
$1,200 Stimulus Checks 2024 Program Details
The Alaskan government has decided to give financial support to their citizens using funds generated from oil trades. The Alaskan Permanent Fund is a sovereign wealth fund (SWF) that the Alaskan Permanent Fund Corporation manages for the safety and security of the state’s wealth.
They invest all these funds into real estate, the stock market, pirate equity, and US bonds, which will result in better outcomes. Future generations will also receive the benefits of these $1,200 Stimulus Checks. The Alaskan government enacted this amendment for the benefit of its citizens in 1976; under this, earnings from natural resources and deposits are the main sources of financial funds for the citizens.
How does the PFD $1,200 Stimulus Checks work?
As we know, Alaska will have to establish permanent funds with a reserve equal to 25% of all minerals lease rentals, royalties, sale proceeds, and federal mineral revenue sharing payments. This will result in states receiving a big share of earnings generated by natural oils and other resources.
The Department of Permanent Fund Dividends has approved applications for more than 8,000 claims this year, which contributes nearly $1 billion to the state’s GDP. In 2023, the $75.28 billion permanent fund dividend has taken more than 36% of public equities and 20% of fixed income. The remaining 17% is invested in stocks, real estate, private equities, and infrastructure for future outcomes.
PFD $1,200 Stimulus checks 2024 Payment Dates
Eligible citizens who meet the eligibility criteria during the application process will definitely receive the $1,200 Stimulus Checks benefits directly in their bank accounts.
Now, the citizens whose status is “eligible-not-paid” will receive the upcoming payment of stimulus checks on 16th May 2024. You can also check the official website of the Permanent Fund Dividend to know about the payment and application status.
Eligibility Criteria for $1,200 Stimulus Checks
The citizens who are living in Alaska and want to receive the benefits of permanent fund dividends need to know about the eligibility requirements of the authorities. The aim of setting these eligibility requirements is to ensure that only affected citizens and Alaskan citizens can benefit from the government funds and the $1,200 Stimulus Checks.
Here are some major eligible requirements which need to be strictly followed by the citizens are as follows:
- Alaskan residency is one of the main factors that citizens should consider.
- Citizens who are looking for benefits must have lived in Alaska since 2023 and planned to settle there permanently.
- Before December 2022, residents didn’t have claimed residency in any other state or country.
- Stay in Alaska for 180 days if you want to receive benefits.
- Physically present in Alaska for more than 72 hours between 2022 and 2023.
How do you apply for the $1200 Stimulus checks of PFD?
The citizens of Alaska who are interested in receiving the $1,200 Stimulus check benefits need to ensure that they are living in Alaska and read all the instructions about eligibility requirements. Interested citizens can apply online or by sending mail to the department.
Citizens who want to make paper applications can visit the Permanent Fund Dividend offices in their nearest area and apply for the program there. To apply online, you must be able to use the official website, https://pfd.alaska.gov/, on your laptop or computer.
Alaskan citizens need to ensure that they have all the required documents for verification by the department. They can share all these documents with application form details using the e-mail addresses of the authorities they have given.
Haley Jena is the finance content writer at RLPS. She graduated with a Double Degree in Finance and Business Administration, complemented with a Master in Business Administration (MBA).