$1,702 October checks: Which state is giving it out and who qualifies?
Some United States residents will receive a check worth $1,702 in October. Find out which state is giving it out and who qualifies for the payment.
The United States provides diverse forms of economic assistance, both at the federal and state levels. For example, in Alaska, some residents will benefit from a one-time payment of $1,702 in October thanks to the Permanent Fund dividend, provided they meet certain eligibility criteria.
According to official information, the Permanent Fund dividend is a program whose main objective is to encourage state residents to continue living in the area and avoid migration to another region of the country. The financing of the fund is possible thanks to the income from investments coming from oil, so the amount varies each year according to the earnings of the industry.
The amount is $1,702 for the year 2024, according to Adam Crum, Commissioner of the Alaska Department of Revenue. This year’s payment is approximately $400 more than the money sent out last year.
“This is the 43rd year that Alaskans have received their share of the state’s natural resources and investment earnings,” Crum said. “The 2024 PFD will create economic opportunity throughout our local communities.”
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Who qualifies for checks of up to $1,702 in Alaska? Requirements and how to apply
The call for applications for payments corresponding to 2024 has already closed. However, payments will begin to be issued in October. To be eligible, residents must have met the following eligibility requirements:
- Be a resident of Alaska
- Intend to stay in the state permanently
- Not have been outside of Alaska for more than 180 days during the qualifying period
- Not have claimed residency in another state or country
- Not have been convicted of a felony or misdemeanor
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When are the deposit dates for Alaska’s Permanent Fund dividend?
According to the program’s website, payments will be issued in two parts: Oct. 3 for applicants who applied online and chose direct deposit as their payment, and Oct. 24 for those who submitted their application on paper or chose a paper check as their payment method.
To check the status of your application, visit the Alaska Department of Revenue website or visit a PFD office in person.