Just from now, hundreds of participants in Minneapolis’s Guaranteed Basic Income Pilot program will receive their next monthly Stimulus Chek payment of $500. Set for distribution on June 20, this cash boost marks another cycle in the initiative that launched in June 2022, and is designed to provide a monthly stipend until June 2024.
The program’s payments are processed reliably on the 20th of each month, ensuring that all participants receive a steady income of $500 monthly. Here are the facts you should know about this type of Stimulus Check. The eligibility criteria for the program are quite specific. We review all of these criteria and the options for qualifying for this assistance.
How to qualify for this stimulus check
To qualify, applicants had to be at least 18 years old by January 1, 2022, live within certain Minneapolis ZIP codes, and have an annual income at or below half of the city’s median income. Additionally, they needed to have been adversely affected by the COVID-19 pandemic, whether through job loss, increased health expenses, or a lack of childcare.
The Federal Reserve Bank of Minneapolis is overseeing an evaluation of the program, as confirmed by the project manager.
Selected from the pool of applicants, 200 households now benefit from the program’s monthly payments, which they are free to use however they wish, as stated on the city’s website.
Program particularly significant for Minneapolis’s diverse population
The program is particularly significant for Minneapolis’s diverse population, with a majority of the recipients being black, indigenous, or people of color, representing 80.5% of the total. White or non-Hispanic recipients make up the remaining 19.5%. Moreover, women make up 69% of the program’s beneficiaries, and 42.5% of all recipients fall into the age range of 30 to 39.
Interesting to note, around one-third of the households receiving this financial support are single-person households. This program is not just about numbers, but about real people and real lives being positively impacted.