State leaders have announced a plan to provide financial relief for residents and small business owners.

On Feb. 17, Gov. Newsom, Senate President pro Tempore Toni G. Atkins and Assembly Speaker Anthony Rendon said that they have reached an agreement on a package of immediate actions that will speed needed relief to individuals, families and businesses suffering the most significant economic hardship from the COVID-19 recession.

Here are a few of the key provisions:

• Direct relief to individuals and families: The agreement incorporates the governor’s Golden State Stimulus plan to assist California households that have borne the disproportionate economic burden of the downturn caused by COVID-19 – those with incomes below $30,000, as well as those excluded from previous federal stimulus payments. The agreement broadens this initial plan and now provides direct relief to more lower-income Californians through a $600 one-time grant to households enrolled in the CalWORKS program and recipients of SSI/SSP and Cash Assistance Program for Immigrants (CAPI).

• Immediate relief for small businesses quadrupled: The agreement reflects a four-fold increase -- from $500 million to more than $2 billion -- for grants up to $25,000 for small businesses impacted by the pandemic, and also allocates $50 million for cultural institutions.

• Fee waivers for most impacted licensees: The agreement provides for two years of fee relief for roughly 59,000 restaurants and bars licensed through the state’s Department of Alcoholic Beverage Control that can range annually from $455 to $1,235. The agreement also reflects fee relief for more than 600,000 barbering and cosmetology individuals and businesses licensed through the Department of Consumer Affairs.

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