Second local stimulus OK’d

Gov. Ralph DLG Torres approved Thursday last week the implementation of the second Local Economic Impact Payment that will give $500 to each eligible filer and dependent in the CNMI, according to Finance Secretary David DLG Atalig yesterday.

Atalig said the second local stimulus will be released via debit cards that will be issued within the next three to four weeks, or by mid-June.

He said Torres, along with then-acting Finance secretary Margaret C. Torres and Division of Revenue and Tax director Tracy Norita, executed the implementation of the second stimulus.

Last April, Atalig told Saipan Tribune that the administration cannot afford to give CNMI resident $1,000 each in the second local stimulus because that would translate to $50 million to $53 million and that amount would be too much because of the expenses the CNMI incurred due to a spike in COVID-19 cases.

The first time the CNMI government issued a local stimulus, it amounted to $500 each and totaled $26 million that went into the community to help households. The money for both local stimulus is sourced from American Rescue Plan Act funding.

With respect to the second stimulus, payment is based on the 2021 1040CM-Individual Income Tax return and follows the same eligibility guidelines as the first stimulus program.

Finance urges taxpayers who have not filed a 2021 income tax return to file in order to receive a payment.

The Division of Revenue and Tax will continue to process the stimulus cards through Dec. 31, 2022.

Finance said funds deposited into local stimulus cards will expire by Jan. 31, 2023, and will no longer be available after that date, despite the stated expiration date on the card. Finance encourages taxpayers to spend these funds within the allowable time frame.

Cards will be mailed to the address on the 2021 1040CM-Individual Income Tax return.

In order to update mailing information, taxpayers must file Form 8822 with DRT. They are also encouraged to notify the postal service of address change should cards already be mailed to the address on file.

Atalig said the purpose of the issued stimulus is for funds to be spent within the CNMI and that Finance is not liable for any unauthorized use of the card provided.

Finance encourages taxpayers experiencing issues with their card or for balance information to call the number on the back of their card.

For lost or stolen cards, taxpayers must visit DRT in person with proper identification to be issued a replacement card.

For more information, call the DRT Call Center at 664-1040.