$4,750,000 Guaranteed Income Program To Distribute Cash to Citizens Across One US State – Crypto News

A multi-million dollar guaranteed income pilot program is preparing for launch after a US state’s executive and legislative branches gave the green light.

The new initiative is designed to help citizens living in the low-income bracket in California.

The program, tentatively known as “Guaranteed Income Older Adults,” will target individuals who are 60 years of age or older residing in the state, and who are either eligible for or receiving a means-tested benefit of some kind from the government.

The California Department of Social Services (CDSS) says the total funding for the pilot program, which is catered for in California’s budget for the 2024/2025 fiscal year, will be $4.75 million.

Amid plans to roll out the guaranteed income pilot program, the CDSS says it held community listening sessions last year.

Some of the recommendations received include setting a minimum payment of $500 per month for at least half a year.

The CDSS says the minimum number of participants recommended for the pilot program was 200. A recommendation was also made to give the participants liberty to decide whether they want recurring payments, in a lump sum or a combination of both.

Ahead of the rollout of the Guaranteed Income Older Adults pilot program, the CDSS is now seeking a public or private nonprofit organization to run the project for three and a half years.

Those applications must be submitted by April 9th and the chosen application will be announced on June 25th.

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