Maryland Gov. Larry Hogan has proposed an economic relief package including direct payments of as much as $750 for low-income to moderate-income families and individuals, he announced at a press conference Monday.
"This stimulus and tax relief package will provide $267 million in direct payments to Marylanders in need," Hogan said. "Families who file for the Earned Income Tax Credit will receive an additional $750. Individuals will receive $450."
Those who filed for the Earned Income Tax Credit will qualify for the proposed direct deposits in Maryland. You can use this tool to see if you're eligible for the Earned Income Tax Credit.
The direct deposits would be separate from the stimulus checks sent out by the federal government.
The proposal first needs to be passed by the legislature on Wednesday before it can be implemented.
About 400,000 Marylanders in need would qualify and no applications would be necessary to receive the funding.
The checks will begin going out to Marylanders "immediately," as soon as the relief act is passed by the legislature and after the governor signs it into law, Hogan said.
"Every day that goes by without passing stimulus and tax relief packages means more jobs that will be lost, more families who will lose their homes and more businesses who will go out of business, and more people that suffer," the governor said.
The relief act proposal would provide more than $1 billion in immediate and targeted financial relief and tax cuts for Maryland working families, unemployed Marylanders and small businesses that are suffering financially due to the COVID-19 pandemic.
Of the total, $180 million would be directed to Marylanders who have lost jobs and $300 million in immediate tax relief would go to 55,000 Maryland restaurants and small businesses.
Much of the funding for the proposed relief act is coming from budget actions that the state took earlier in the year at the Board of Public Works. Some of the funding would come from the state's Rainy Day Fund and from the state's reserve fund, "which is doing better than we anticipated because of recovery," Hogan said.