The Administration will begin issuing EITC checks based on the court settlement within two weeks.

Governor Felix P. Camacho received the judgment on the settlement on May 23, 2008.  The Governor’s fiscal team has been meeting to determine the processing and release of checks at the earliest possible time.  The Department of Revenue and Taxation has begun processing the EITC claims, which will be turned over to the Department of Administration for the printing and release of checks.

“This is welcome news for Guam’s families, especially during this time when prices are rising and the cost of living is becoming less affordable,” Governor Camacho said.

Governor Camacho has set aside more than $16 million in anticipation of the final judgment.  The amount will pay for the remaining 1997 and 1998 EITC claims, 1995 claims, 1996 claims and almost all of the 1999 claims.  The Administration paid a portion of the 1997 and 1998 EITC claims last year.  The remaining balance from the total $90 million settlement to EITC claimants will be paid from a 15 percent set aside of monthly refunds paid out.