A state in the US is going to be handing out nearly $1 billion worth of free cash to hundreds of thousands of citizens.
According to a press release, the amount that will be doled out to more than 600,000 Alaskans who have been deemed eligible as a part of the state’s Permanent Dividend Fund (PFD) program.
“The amount of the 2024 PFD was calculated by utilizing the amount available for distribution from the Permanent Fund earnings account and dividing it by the number of eligible applicants. For the 2024 PFD, the Legislature allocated a total of $914,315,845 for distribution.
The $1,702.00 amount includes the permanent fund dividend in the sum amount of $1,403.83, and a one-time energy relief payment of $298.17 added by the Legislature in 2023. Over 600,000 Alaskans have already been determined eligible for this year’s distribution.”
On its website, the government of Alaska says that eligible residents should be receiving payments on August 21st, September 11th, October 2nd and October 23rd.
In a statement, Alaska Governor Mike Dunleavy says that the PFD is designed to enrich future generations rather than burden them.
“As Alaska’s Governor, I believe the historic PFD program represents a share of our natural resource wealth. It allows every Alaskan to share in our natural resource wealth, which ultimately belongs to the people, and ensures that government is accountable to the people.
The PFD is just, equitable and sustainable. It is just because, rather than burden future generations, the program enriches them. The PFD delivers a resource efficiently to the people, bypassing government agencies, and allowing each of us to decide how best to spend it.”
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