Americans can claim one-time payment between $150 to $300 from $2.8billion surplus
: 11:06 ET,
Jun 9 2023
MAKING ends meet has been hard for millions of Americans amid elevated inflation and rising interest rates, but relief could soon be in sight.
For those qualifying for a direct payment in one state, cash amounts of up to $300 will begin going out this fall to help with costly bills and expenses.
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Some Alabama residents may soon receive one-time payments of up to $300 thanks to a budget surplus in the state
Credit: Getty
Alabama has passed a bill that delivers a reprieve to in-state residents.
The bill was approved by Governor Kay Ivey on June 1.
At the end of May, Alabama legislators passed the bill that will benefit residents.
However, it did not pass easily – the rebate check amounts were changed twice by state lawmakers before the one-time payments of up to $300 were decided.
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WHO IS NOT ELIGIBLE
If you did not file a personal Alabama income tax return for tax year 2021, you are automatically disqualified for the 2023 rebate check.
Estates and trusts are also ineligible for the one-off payments that will begin being disbursed in November.
Additionally, you will not receive a rebate payment if you were claimed as a dependent on a 2021 federal or Alabama state income tax return.
WHEN AND HOW REBATE CHECKS GO OUT
The Alabama Department of Revenue will begin to issue the rebates on November 30.
Recipients of this rebate will receive it as a direct deposit into the same bank account they included on their state income tax return last year.
If the Alabama Department of Revenue doesn’t have bank account information for a taxpayer, a paper check will be mailed instead.
The funding for the rebate program will cost about $393million and is made possible because of a $2.8billion surplus in Alabama’s Education Trust Fund.
When signing the legislation into law, Ivey
stated
in a press release she was proud to put her signature on a bill that would return ”the working people of Alabamas money back to them through tax rebates.”
“Alabamas record-setting $3billion General Fund is generational money which makes possible greater investments in vital public services, while also significantly paying down debt to reduce the impact of future economic downturns,” the governor said.
She called the budget that allowed for the relief checks “historic” for the state.
OTHER STATES ISSUING REBATES
As The U.S. sun previously reported several other states that are also issuing rebate checks later this year.
These states include: