As part of the stimulus check program, Alaska will soon be sending out checks to residents for up to $3,200.
The stimulus payment for Alaska is actually an annual dividend that the state consistently pays out (often known as an “oil-wealth check”). The payment was authorized by Governor Mike Dunleavy at the beginning of the year, and this month, qualified people will start receiving it. In May, the state legislature and Governor Mike Dunleavy approved the yearly budget. According to the budget, eligible residents will get a $3,200 dividend before the year is out.
Stimulus Check For Alaska: What Is It?
The state of Alaska gives its residents this stimulus check once a year as a means to share the prosperity of its oil industry. The dividend will be paid by the government out of the Alaska Permanent Fund, which was established in 1982.
This budget is more than just a spending plan; it represents a roadmap for Alaska’s future. According to Governor Dunleavy, budgets should reflect the objectives and principles of the population for which they are created. This statute does that, in his opinion.
The state Senate initially proposed disbursing $5,500 to qualified residents from the oil windfall. However, according to Alaska Public Media, later conversations resulted in the amount being lowered to $3,200. The payment is still the second-largest in state history after taking inflation into account.
One thing to bear in mind is that this year’s Stimulus Check payout is actually two checks: the usual $2,550 dividend check and the $650 energy assistance payment. Eligible residents may expect to see the oil windfall checks arrive in their bank accounts on September 20. Residents who select paper checks must wait until October to receive their payout.
The state of Alaska generally distributes Stimulus Checks in October, but lawmakers decided to advance the payment this year to help families who are struggling with the high cost of gasoline and energy. The payment was also accelerated in 2020 as a result of the COVID-19 epidemic.