Every Alaska Resident Will Collect $556
- Share via
ANCHORAGE — Every man, woman and child in Alaska will receive a check for $556.26 just for living there, thanks to the state’s annual share-the-wealth program, it was announced Friday.
Nearly $296 million will be distributed to Alaska’s permanent residents, the state Revenue Department said. The first checks will be printed Monday and staggered mailings will start next week.
Alaska’s oil-fueled economy has been hard hit by the world oil slump and the state budget has been cut, but this has not affected Alaska’s cash giveaway program.
A percentage of all the state’s oil revenues is placed in the Permanent Fund, which holds $7 billion. It was created to make Alaska solvent when the oil runs dry.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
