Millions of Californians could still be sitting on unclaimed cash from the state.
But the clock is ticking to use it.
Residents who received California’s Middle Class Tax Refund on a debit card have until April 30 to spend or transfer any remaining funds, according to theFranchise Tax Board.
The one-time payments were approved by state lawmakers in 2022 — though eligibility and payment amounts were based on residents’ 2020 tax filings — as gas prices surged following the US ban on Russian oil imports.
In total about $9.2 billion was distributed to roughly 32 million Californian, with payouts ranging from $200 to $1,050 depending on income and filing status.
While millions of Californians got their payments via direct deposit, nearly 10 million others were sent debit cards in the mail — leaving a massive pool of funds that may still be sitting untouched.
State data shows about 57% of activated cards still carry a balance, totaling nearly $3 billion.
The cards were mailed between late 2022 and early 2023 and all expire at the end of the April. After that, any unused funds with be returned to California general fund,LAist reported.
Cardholders can check their balance through Money Network, which administers the program — though anyone who lost their card can no longer request a replacement.
Source: California Post – Breaking California News, Photos & Videos
