TAIPEI (Taiwan News) — The Legislative Yuan on Friday passed a special budget that will provide an NT$10,000 (US$325) cash handout to all Taiwan residents.

The budget was approved in its third reading and includes funding for the payouts, per CNA. Finance Minister Chuang Tsui-yun (莊翠雲) on Thursday said the government will announce the distribution schedule on the day the president promulgates the budget, with payments expected to start in early November.

The Cabinet approved the special budget on Sept. 11, totaling NT$550 billion in expenditures, including NT$236 billion for the cash handouts and NT$20 billion set aside for future allocations, mainly to support industries. Legislative committees, including the Finance Committee, recently reviewed the budget before sending it to party negotiations.

Legislative Speaker Han Kuo-yu (韓國瑜) convened cross-party talks on Wednesday, resulting in eight retained proposals. These include reducing NT$200 million from national defense spending, freezing NT$2 billion in labor and health insurance fund allocations, and cutting media publicity expenses.

According to the finance ministry’s plan, there will be five ways to collect the handouts. These include online registration for bank transfer, ATM withdrawal, post office withdrawal, direct deposit for designated groups, and roster-based distribution for those unable to use the other methods.

The NT$10,000 distribution will follow the same principles as the NT$6,000 cash handout in 2023. Eligible recipients include citizens with household registration and nationals without household registration but with residency permits.

Overseas officials and their dependents will qualify. Foreigners with permanent residency and spouses of Taiwanese nationals who hold residency permits are also eligible.

Chuang said the first round of payments will go to direct deposit recipients, with the remaining handouts distributed with other methods.