(NEXSTAR) – California is sending out a new round of direct payments to an estimated 23 million state residents, Gov. Gavin Newsom and legislative leaders announced this week.
The direct payments, as large as $1,050, are part of an “inflation relief package” in California’s budget agreement. The budget was finalized and signed by the governor Monday, but don’t expect money to hit your bank account just yet.
The payments are set to start in late October, reports Nexstar’s California Capitol Bureau. All payments should be issued by early next year.
Nexstar reached out to California’s Franchise Tax Bureau for more information on who can expect to receive payments first and did not hear back by publication time.
Like the Golden State Stimulus checks of 2021, many Californians will be receiving the money via direct deposit. However, some people will receive the direct payments on a debit card.
According to the California Department of Finance, people who received a tax refund by direct deposit after filing state taxes in the 2020 tax year can also expect to receive their inflation relief payment via direct deposit.
If that bank account information is no longer valid for any reason (like if you closed your bank account), the finance department said you should expect to receive a debit card.
Nexstar reached out to the Franchise Tax Bureau for more information on how Californians in other tax situations can expect to receive their payments later this year and we’ll update this story when we hear back.
The amount you’ll receive depends on your income and number of dependents. We break it down here.