AB 2589 would use California's unprecedented $68-billion budget surplus. The one-time $2,000 payment per child would be given to families that earn $30,000 or less per year, according to a press release.
The bill would also increase the minimum California Earned Income Tax Credit from $1 to $255, benefiting low-income tax filers without dependents, the press release said.
Assemblymember Miguel Santiago, who represents the district covering parts of downtown Los Angeles and Boyle Heights, announced the bill Monday morning.
"I am hopeful that the Appropriations Committee will pass AB 2589 and will move California closer to supporting our lowest income families as we recover from the pandemic," Santiago, the lead author of the bill, said in a statement.
The bill is waiting to be heard by the Assembly appropriations committee on Thursday.