More than 3,000 families to get monthly payments of $500 for two years

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THOUSANDS of needy families are set to get direct payments for a total of 24 months.

On Wednesday, Cook County, Illinois board President Toni Preckwinkle announced the launch of the $42million program. 

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The new UBI program is being called the largest in the country

Cook County, which is calling it the largest universal basic income initiative in the country, is collaborating with Economic Security for Illinois. 

The program will be giving qualifying individuals $500 payments each month for two years. 

Who is eligible?

To be eligible, you must be a Cook County resident. 

Other eligibility requirements are as follows: 

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  • Be aged 18 or older 
  • Most not be participating in another guaranteed income program
  • Household income must be at or below 250% of the federal poverty level

“Research shows that low- and moderate-income people spend unrestricted money wisely” Xochitl Flores, Chief of the Bureau of Economic Development said in a statement. 

“Long-term, the Cook County Promise Guaranteed Income Pilot will provide support which will lead to more financial stability as well as improved physical, emotional and social outcomes for our residents.”

When can I apply?

While there isn’t a definitive date yet, applications are set to open up in the fall. 

You can sign up to be the first to know about updates including information on how to apply. 

While the country expects more details on how to apply to be revealed over the summer, you’ll need to provide documents to verify personal information including household income. 

Those who are eligible that apply will be entered into a random lottery drawing. 

The payments are expected to start rolling out in the winter. 

What other areas in the country are offering UBI 

The move by Cook County follows another big program in the state in Chicago. 

The Chicago Resilient Communities Pilot $31million initiative is giving 5,000 low-income households $500 per month for a year. 

However, applications closed last week. 

Meanwhile, another program was just approved in Alameda, California

Thanks to the green-light from the City Council, 150 low-income households will be getting $1,000 in monthly payments for two years. 

For more on deadlines, you should also be aware of one that will affect millions. 

This will pertain to a one-time tax rebate payment in Colorado worth up to $800.

To qualify you file your 2021 tax return by May 31.

Eligible taxpayers can expect to receive their money in the mail in August or September, according to the state. 

They are estimated to go out to 3.1million residents. 

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See the 24 states that are offering UBI.

Plus, workers are set to get up to $1,000 in Covid bonus checks.

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