translated from Spanish: Middle Class Bonus and Solidarity Loan: Know the requirements and beneficiaries posed by the project entered into Congress

The government entered this day the bill establishing a new bonus for the middle class, in addition to a solidarity loan and a voucher for passenger transport.
According to the Financial Report of the Budget Directorate (Dipres), the fiscal impact of both initiatives is estimated to be $1.8 billion and considers beneficiary universes of 1.9 million people and 2.3 million people for the middle-class bond and solidarity loan, respectively.
On the detail of how the benefits are and who can access them, in general, the project says that the requirements are an average monthly income of 2019 that is equal to or greater than the 2019 monthly minimum income, and in the case of the middle class bonus, that the average monthly income of 2019 does not exceed $2 million.
For the middle-class bond, meanwhile, revenue is required to experience a decrease of at least 20% of its average monthly income from December 2020 and January 2021, determined by the percentage change from the average monthly income in December 2019 and January 2020. In the case of solidarity lending, a 10% decrease in the same income is required.
In the case of the middle-class bonus, individuals whose variation in their income is equal to or greater than the minimum monthly income, and less than or equal to $408,125, will be entitled to the benefit without further requirements.
In both cases, at the time of publication of the law there are no outstanding amounts of restitution for improperly obtaining the tax contribution or benefit.
Payment for both benefits will be made within 10 business days of the request being made.
Middle class bonus
The middle class bonus may be applied for only once, starting on the eighth day of the first month from the date the law takes effect, and will deliver up to $500,000, according to a revenue scale that will be determined by the average monthly income received in 2019.
The amount will be increased if the beneficiary’s household is made up of people with disabilities, adults over the age of 65, or girls, boys and adolescents, in a range from $125,000 to $250,000. Thus, the maximum bonus can be $750 thousand.
Solidarity loan
The solidarity loan, meanwhile, will be a monthly money that can be requested a maximum of 3 times in continuous or discontínuous months, and its amount will be a maximum of 100% of the result of the difference between the average monthly income of December 2020 and January 2021 and the average monthly income of December 2019 and January 2020, without exceeding $650 thousand.
The money will be refunded in 4 annual and successive installments, with real interest rate 0% and with a grace period in the first year. The first installment will be 10% and the remaining three will be 30%.
In addition, its return will be contingent on earning income and the maximum quota will be 5% of the revenue that has been obtained. If the entire loan is not repaid for the application of that fee, the outstanding balance will be waived.
A withholding or payment obligation of 3% of monthly income is established for the refund as of September 2022 either by discount by form, withholding fees or provisional monthly payments.

Original source in Spanish