SACRAMENTO, Calif.–California’s credit unions are preparing for a new inflow of deposits, this time courtesy of stimulus payments from the state.
Californian residents earning between $30,000 to $75,000 will see $600 payments this coming September under a budget deal signed by Gov. Gavin Newsom.
As the California/Nevada leagues explained, the state stimulus checks are an extension of the state’s Golden State Stimulus Program (GSSP) that already provided one-time $600 payments to low-income Californians earning less than $30,000 a year.
Residents who already received the first round of checks will not be eligible to receive another $600. Additionally, certain families can qualify to receive a $500 check if they have dependent children regardless of their immigration status, the league noted.
About two-thirds of Californians are expected to receive a stimulus check from the state.
The California payments are in addition to the Advance Child Tax Credit payments that the federal government has begun sending to many U.S. households.