DENVER (KDVR) — Gov. Jared Polis announced Wednesday afternoon plans for a stimulus package.
Polis said 435,000 Coloradans will qualify for the money. It will go to unemployed people who were previously making less than $52,000 annually.
The money will go to those who qualified for unemployment at least once since March 15.
Multiple people in the same household can receive a check.
The one-time payments will be issued in early December.
While the federal government sent $1,200 to most Americans earlier this year, efforts to send a second round of checks have stalled.
“I’ve taken this action because many Coloradans can’t afford to wait while Washington D.C. continues to negotiate a relief package. This will provide additional direct cash support for hardworking Coloradans to further stimulate the economy,” Polis said.
The stimulus will cost the state $168 million. According to the governor, the funding will come from the following sources:
“$148.9 million in anticipated reversions to the General Fund from the Medical Services Premium line due to lower than estimated growth in Medicaid enrollment and an extension of federal matching funds; $13.8 million in existing funds in the Disaster Emergency Fund; $5.3 million from the Controlled Maintenance Trust Fund. After these transfers, the State Emergency Reserve will have a remaining designated balance of approximately $150M.”