Please be advised that the State of California Franchise Tax Board will be processing Golden State Stimulus Payments (GSSP), authorized by Section 8150 of the Welfare and Institutions Code, as added by Senate Bill 88 (Stats. 2021, Ch. 8) and amended by Assembly Bill 88 (Stats. 2021, Ch. 12), using a new company entry description for ACH payments. GSSP will use the company discretionary data field description “XX FTB GSSTIMULUS XX”, as described below. The ACH transaction amount will be either $600 or $1200.
Effective immediately, financial institutions should be prepared to begin receiving GSSP with the new company entry descriptions. This notice is being provided to allow financial institutions to make any processing or system preparations necessary to receive these payments.
In accordance with the National Association of Automated Clearing House Association (“NACHA”) operating rules, State of California Franchise Tax Board payments will be issued with the following descriptors:
The “XX” indicator in positions 21-22 & 39-40 of the “Company Discretionary Data” field identifies GSSP as exempt from all garnishments except garnishments for child support enforcement. The following table maps certain field values found in the ACH Company/Batch Header (“5”) record of GSSP processed by the State Controller’s Office.
