TWO out of three California residents will receive a $600 relief payment in Gov Gavin Newsom’s bill.
The cash payments will be deposited into bank accounts as a result of a newly signed $100billion California Comeback Plan.
The cash payments will be deposited into bank accounts as a result of a newly signed $100billion California Comeback PlanCredit: Getty
Gov Newsom signed the bill on MondayCredit: Getty Images – Getty
The bill — Golden State Stimulus II — was signed by Newsom on Monday and will push relief money out to millions of residents across The Golden State.
Newsom’s office revealed the information on immediate relief for California’s families and small businesses in a Monday news release.
The notice read: “The Plan creates the biggest state tax rebate in American history, expanding direct payments to middle class families for a total of $12 billion in stimulus payments that will go directly to middle class Californians and families.
“Nearly two thirds of Californians will now qualify for a stimulus check of $600.
“Qualified families with kids will receive an additional $500.”
Eligible taxpayers who earn a yearly salary of $30,000 to $75,000 will get a stimulus check worth $600, SFGate reported.
Additionally, undocumented families are also able to receive the relief money.
In order to qualify for the Golden State Stimulus II, the State of California’s Franchise Tax Board (FTB) says you must have filed your 2020 taxes and have a California Adjusted Gross Income (CA AGI) of $1 to $75,000.
Read our Stimulus Check live blog for the latest news and updates...
You must also “be a California resident for more than half of the 2020 tax year, be a California resident on the date payment is issued, and cannot be claimed as a dependent by another taxpayer.”
According to Newsom, the California Comeback Plan will help the state recovery by: “Providing immediate relief to Californians hit hardest by the pandemic, confronting homelessness and the housing affordability crisis…
“Transforming public schools into gateways of opportunity, bolstering wildfire resilience and tackling climate change, and building the infrastructure of the next century.”
Payments are expected to start going out in September 2021, however, the FTB suggests checking back on their website for updates.
Meanwhile, Americans could be in line for a new stimulus check this week.
Families will receive an additional stimulus payment from July 15 under Joe Biden’s child tax credit expansion plans.
Around 39million homeowners will get up to $300 a month for every child under the age of six as part of the American Families Plan.
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