So back in April, I got a surprise check from the State of California for $600. I did not expect that since I didn’t know that it was proposed at all. Back in May, Governor Gavin Newsom proposed a second stimulus check for Californians and it was recently approved.
Golden State Stimulus II
In May, Gov. Newsom proposed a second round of $600 checks to Californians as part of a proposed $100 billion budget plan. By doing so, the state will expand economic relief from low-income residents to also include middle-class families.
This $100 billion budget was just signed and is labeled as the California Comeback Plan. The plan focuses on giving relief to those hit hardest by the pandemic and major investments that address the challenges that plague California.
(read) “The Plan provides immediate cash relief to middle class families and businesses hit hardest by the pandemic, creating the biggest state tax rebate in American history and the largest small business relief package in the nation,” according to the announcement.
This plan was made possible because of the swelling in budget from a significant windfall of tax revenues. California had a surplus of around $76 billion, on top of the $27 billion that the state is going to receive from Biden’s American Rescue Plan. California certainly has a lot of money to give out.
What You’re Getting From It
In this plan, qualifying individuals will receive a one-time $600 payment, which is similar to GSS I, or Golden State Stimulus I. If you have already received a cash payment from the previous round, you can still get a stimulus but for a reduced amount, which is subject to eligibility. This means that under GSS II, you can get anything from $500 to as high as $1,100.
Adults who have received GSS I and have kids can receive $500.
Adults who haven’t received GSS I and do not have kids can receive $600.
Adults who haven’t received GSS I and have kids can receive $1,100.
Adults who have received GSS I and do not have kids do not qualify for this.
How Do I qualify?
In order to qualify for the Golden State Stimulus II, you must:
- Have filed your 2020 taxes
- Have a California Adjusted Gross Income (CA AGI) of $1 to $75,000
- Have wages $75,000 or less
- Be a California resident for more than half of the 2020 tax year
- Be a California resident on the date payment is issued
- Not be claimed as a dependent by another taxpayer
If you want to receive your payment, you need to make sure that you have filed your 2020 taxes before October 15, 2021.
When Will I Receive the Stimulus?
When it comes to stimulus checks, time is of importance. While there isn’t a solid date as to when the checks will be received by Californians, the Franchise Tax Board’s website states that you can expect payments to begin this September 2021.
For more information about the Golden State Stimulus II, visit the California Franchise Tax Board’s website.