California Republic flag.Photo byHåkan Dahlström / Flickr, Creative Commons

This month, California residents are set to receive significant financial aid through $12,000 in stimulus checks. The aim of this initiative is to provide critical support for families and individuals across the state.

The California Franchise Tax Board (FTB) will oversee the distribution of these one-time payments. Although the exact dates for disbursement are yet to be confirmed, the FTB has assured that this information will be made available soon, allowing beneficiaries to know when to expect their financial assistance.

Eligibility Criteria

To qualify for these stimulus checks, residents must meet specific criteria:

• Possession of a valid Social Security number or taxpayer identification number
• Annual income below $30,950
• Having dependent children under the age of six
• California residency for over six months during the tax year
• Being over 18 years old and not claimed as a dependent by another taxpayer

Additionally, households earning less than $63,398 in 2023 may be eligible for this financial aid. Applicants must also qualify for the Federal Tax Credit to benefit from various layers of economic support.

Eligible residents must have submitted their tax returns by April 15, 2024, to qualify for the financial aid. For those who e-filed their tax returns, refunds are typically processed within 21 days, while those who submitted paper returns may experience a longer processing time of up to three months.

The $12,000 is not a single payment but a combination of different tax credits and rebates. Residents can maximize their financial support by claiming the following when filing their 2023 tax returns:

• California Earned Income Tax Credit (CalEITC)
• Young Child Tax Credit (YCTC)
• Federal Earned Income Tax Credit (EITC)

The Young Child Tax Credit (YCTC) offers up to $1,117 per child under the age of six for households earning less than $31,000 in the previous tax year.

At present, this stimulus initiative is exclusive to California. While other states, such as Pennsylvania, Vermont, and Alabama, have introduced their own rebate and tax credit programs, California’s $12,000 relief plan stands apart in its scope and approach to addressing the state's economic challenges.