Here are five things to know about the payment:
- Every full-time Colorado resident and taxpayer who files by May 31, 2022, is eligible
- Individuals will receive $400, and joint filers will get $800
- The check will come in the mail in either August or September
- The governor said this money will be a tax refund that residents get by Sept. 15 instead of spring 2023
- About 3.1 million residents will receive the payment
“People are paying more for everyday items like gas, groceries, and rent through no fault of their own. Instead of the government sitting on money that Coloradans earned, we want to give everyone cashback as quickly and easily as possible to provide immediate relief and empower people to do what they want to with their money,” said Polis.
The announcement comes as inflation continues to rise, along with the cost of living in our state.