ANNAPOLIS, Md. (WDVM) — Maryland Governor Larry Hogan signed the RELIEF Act into law on Monday.
The Act, which drew nearly unanimous support from both the Maryland House and the Maryland Senate, will provide over $1 billion in relief to needy families and small businesses. Some provisions in the Act include cancellation of state and local income tax on unemployment benefits and direct stimulus payments to individuals and families who qualify for and filed for the earned Income Tax Credit.
Qualifying residents will receive $500 (for families) or $300 (for individuals), followed by a second-round stimulus which will provide an additional $250 for families and $150 for individuals. No application is necessary to receive the checks.
Marylanders would qualify for these payments who annually earn:
- $50,954 ($56,844 married filing jointly) with three or more qualifying children
- $47,440 ($53,330 married filing jointly) with two qualifying children
- $41,756 ($47,646 married filing jointly) with one qualifying child
- $15,820 ($21,710 married filing jointly) with no qualifying children
About 400,000 Marylanders qualify for the direct payments.
“The RELIEF Act offers a real lifeline to those hardest hit people who are struggling to get by and small businesses desperately trying to stay afloat,” said Hogan.
About 55,000 small businesses will also benefit from the RELIEF Act. For more information about the RELIEF Act and who qualifies, visit here.