State money to hit bank accounts
Last updated 5/21/2022 at 11:39am
SANTA FE — New Mexico Gov. Michelle Lujan Grisham announced Wednesday that $200 million is on its way to over 550,000 New Mexico taxpayers.
In a news release Lujan Grisham wrote taxpayers who receive funds through direct deposit are scheduled to receive at least $250 as the week ended.
Paper checks for another 200,000 taxpayers will begin going out in the following days and will continue over the next few weeks.
Lujan Grisham said throughout the summer, the state will be putting nearly half a billion dollars back into the pockets of New Mexicans.
The rebates issued this week were approved by the governor and legislature in a special legislative session this spring to help New Mexico households cope with the nationally rising prices of groceries, gasoline and other expenses.
Taxpayers who file individual returns will receive another $250 rebate in August in addition to the funds disbursed this week. Those who file joint returns with a spouse or as heads of household will receive $500 rebates beginning this week and another $500 in August.
The same legislation that authorized the rebates also set aside $20 million for economic relief payments to New Mexicans who do not file state income taxes because of their income levels. Only non-filers may apply for the one-time relief payments of either $500 or $1,000 depending on family size. Applications are open at the Human Services Department website until May 31 or as long as funding allows.