Stimulus Payment 2025: How to Qualify for the $1,702 Check This February?

The well-known oil and gas revenue distribution program in Alaska has confirmed that the Permanent Fund Dividend (PFD) stimulus check payment has been issued.

For 2025, eligible residents will receive $1,702, which is an increase from the $1,312 payment in 2024. This increase reflects the state’s economic growth and commitment to sharing its resources with the people.

How the Payment Amount Was Determined?

The Permanent Fund Dividend is a state program that distributes Alaska’s natural resource revenues to its residents. The 2025 payment was based on the earnings reserve account, which totaled $914,315,845 this year.

By dividing this amount among eligible applicants, a basic dividend of $1,403.83 was determined. Additional factors contributed to the final approved amount of $1,702.

Total Allocation for the 2025 Payment

The Alaska Department of Revenue has confirmed that the 2024 Permanent Fund Dividend and Energy assistance check will total $1,702.

The Alaska Legislature allocated more than $914 million for this year’s check. State revenue officials reported that more than 600,000 Alaskans are eligible for this payment, which is over $400 more than the PFD distributed in 2024.

Who Is Eligible to Receive the Check in February 2025?

To qualify for the $1,702 stimulus payment, residents must meet the following criteria:

• Alaska Residency: You must have lived in Alaska for the entire calendar year before applying for the dividend and intend to stay permanently.
• Registered Resident: You must be a legally registered resident of Alaska.
• Continuous Stay Requirement: You must have lived in Alaska for at least 12 continuous months and must not have applied to live in another state or country.
• No Plans to Leave: You should not have any immediate plans to move out of Alaska.
• Physical Presence Requirement: You must have spent at least 72 continuous hours in Alaska in the past 24 months.
• Criminal Record Restrictions: Applicants must not have served a felony sentence in the last 12 months. Also, they must not have been imprisoned for a misdemeanor if convicted of one or two misdemeanors since January 1, 1997.

Read More:

• 2021 Stimulus Check: IRS Confirms Who Can Still Receive Payment in 2025?
• Parents Beware: Don’t Waste Your Stimulus Check on College Tuition!

Legislative Decisions on the PFD Amount

Following a legal formula that was expected to result in a $1 billion deficit, Governor Mike Dunleavy initially suggested a $3,500 dividend in December.

In April, the state House approved a check of about $2,300, which would have left the state with a $270 million deficit.

However, lawmakers ultimately adopted the Senate’s preferred 75-25 formula. This formula allocates one-quarter of the Permanent Fund’s annual earnings to dividends and the remaining three-quarters to state services.

Why the 2025 PFD Increase?

The 2025 stimulus payment was slightly increased by about $300 due to unexpected oil revenue gains. This additional funding was approved by the Legislature to benefit Alaska residents.

Eligible Alaskans should expect to receive their payments by February 2025, provided they meet all the residency and application requirements.

Reference

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