On February 23, 2021 Governor Gavin Newsom signed into law a package of legislative actions that includes the Golden State Stimulus (GSS) plan to provide financial support due to economic impacts caused by the COVID-19 pandemic.
This is a one-time $600 or $1200 payment - payments will be distributed via direct deposit using the bank account information on your 2020 tax filing.
Alternately, a check may be mailed using the mailing address on your 2020 tax filing, qualification requirements apply.
Please refer to CA.gov for additional details including qualification requirements, and when payment will be disbursed.
California Franchise Tax Board Information Center
The Calfornia Franchise Tax Board has created a "Golden State Stimulus" page with the most up-to-day answers to many of your questions, including:
Enacted as part of the same legislation that included the Golden State Stimulus Program (GSS), the State of California will be offering the Golden State Grant Program (GSG).
The GSG is in addition to the GSS stimulus payments – individuals may qualify for both payments.
Payments will be $600.
To learn more about the Golden State Grant program (GSG) please visit California Department of Social Services.
California Department of Social Services
The California Department of Social Services provides additional information on the Golden State Grant Program (GSG) and the most up-to-date answers to many of your questions, including:
Stimulus and Grant Payments: How we are changing our overdraft process
We made the decision to amend our overdraft processes to provide you access to stimulus payments in their entirety for clients who deposit their Golden State Stimulus (GSS) and/or Golden State Grant payment (GSG) into a Union Bank deposit account via a check or direct deposit.
If at the time your stimulus/grant payment is deposited (via Direct Deposit or Check) your account has a negative balance, we may apply a Temporary Credit to cover the negative balances in your account so that you may have full access to your stimulus payment. Clients who cash their check are not eligible to receive a Temporary Credit. The Temporary Credit will remain in your account for 90 days, after which it will be reversed, and the amount will become due.
Important information about your temporary credit:
If you do not wish to participate in this service, we can reverse the temporary credit when you contact a branch. Please visit unionbank.com/locations to find your local branch.
If you deposited your Golden State Stimulus (GSS) and/or your Golden State Grant payment (GSG) into a Union Bank deposit account and did not receive a Temporary Credit and you would like to receive a Temporary Credit please contact a branch or call us at 1 (800) 238-4486 Monday – Friday 7:00 a.m. to 5:00 p.m. PST, Saturday 8:00 a.m. to 5:00 p.m. PST.
These examples are for illustrative purposes only. The actual balances, amount and timing of Temporary Credit issuance may vary based on the method of deposit of your Covid-19 relief payment(s).
Example #1: Account Balance is Negative at the time the Golden State Stimulus Payment (GSS) and / or Golden State Grant Payment (GSG) is Deposited
Let’s say the balance in your account at the time a $600 stimulus / grant payment is deposited is negative $250. To ensure you have full access to your stimulus / grant payment, we will temporarily credit the amount overdrawn into your account. Here is an example:
Temporary Credit Reversed
After 90 days, regardless of your account balance, we will reverse the Temporary Credit.
Let’s say that 90 days later, the balance in your account is $300. The previously applied Temporary Credit of $250 will be reversed, bringing your account balance to $50. Here is an example:
Example #2: Continuous Overdraft Closure
If your account remains or becomes overdrawn for 45 consecutive days, your account will be closed, even if it’s before the 90-day period ends.
Example #3: Reversal of a Temporary Credit from a prior stimulus payment and current Golden State Stimulus (GSS) and / or the Golden State Grant Payment (GSG)
If you received a Temporary Credit from a prior stimulus payment, it will be reversed at the end of that initial 90-day period as previously communicated.
Temporary Credit from current Golden State Stimulus (GSS) and / or Golden State Grant (GSG) Reversed
After 90 days, regardless of your account balance, we will reverse the Temporary Credit applied to your Golden State Stimulus (GSS) and / or Golden State Grant (GSG).
Let’s say at the time the current Temporary Credit is scheduled to be reversed, the balance in your account is $300. The previously applied Temporary Credit of $250 will be reversed, bringing your account balance to $50. Here is an example:
If my account is closed and the California Franchise Tax Board tries to deposit into it, what will happen?
We will attempt to redirect your stimulus payment to an alternate Union Bank account with the same account ownership. If we are unable to do so, the GSS will be returned to the California Franchise Tax Board. Please refer to CA.gov for more information.
Will I receive a 1099 for this amount? Will it be taxable?
Union Bank will not be sending a 1099 for the GSS or the GSG. We ask that you please contact your tax advisor for information on how this impacts you.
Tools to help track your payments