Minnesota Proposes $500 Stimulus Check To Taxpayers

stimulus check
stimulus check

With federal relief payments having run their course, states have got into the act and have come up with their own to support residents. The latest to join the list is Minnesota, which has proposed giving a stimulus check of $500 to its residents. The payment is subject to certain eligibility criteria.

The proposal was introduced on Tuesday by Dan Wolgamott, a state representative along with Governor Wolz. The proposal has been termed HF 4625.

Under HF 4625,  all single tax filers would be eligible for a stimulus check worth $500 from the state of Minnesota. A couple would get double that. The budget surplus enjoyed by the state will be used to fund the state relief check.

Budget Surplus Of $9.25b To Be Used To Fund Minnesota Stimulus Check

Representative Wolgamott said that the $9.25 budget surplus with the state of Minnesota can both be used for direct stimulus check payments for its residents and also invested in direct critical expenses of the state.

He said that he was proud to cooperate with Walz to send the stimulus checks to residents of Minnesota even as residents face an unprecedented rise in prices and multiple economic challenges post the pandemic.

If the Minnesota stimulus check proposal is accepted, residents could start receiving their stimulus checks by the end of summer. To be eligible for the check, people should be residents of Minnesota in at least 2020 and should have filed their tax returns for that year by October 15, 2021. They should also have claimed refunds for property tax in 2021. This tax will be paid towards rent in 2020.

Individual residents with an income of $164,400 and above will not receive the relief check from Minnesota. The figure is $273.470 for married couples.

Additionally, household heads with taxable income exceeding $218,540 and couples who file returns separately and earn over $136,735 individually will not receive the state stimulus check.

Previous articleMeta To Go For Digital Currency Services And Tokens In Apps:
Next articleHope Of New Stimulus Check As Lawmakers Back A $850 Single Payment