Italian basic income amounts, terms

Including ISEE, residency, stay permit, and vehicle ownership

(ANSA) - Rome, March 6 - The Italian government's new universal basic income, which is available to both Italian citizens as well as foreigners who have been legally residing in the country for at least 10 years, has several eligibility requirements that applicants must meet.
    The universal basic income is intended to function as a supplement to family income and can be as much as 500 euros per month (6,000 euros per year) for a single person with no income.
    For a family with three children, two of whom are minors, the basic income payment could be as much as 1,050 euros per month if income is zero, with an additional 280 euros if the family is renting.
    In terms of financial limits for eligibility, the applicant's ISEE declaration must show earnings of less than 9,360 euros for a single person, family income of less than 6,000 euros, real estate holdings other than place of residence of no more than 30,000 euros, and an investment portfolio of no more than 6,000 euros.
    There are also limits on vehicle and motorcycle ownership as well as a residency requirement.
    In addition to the financial subsidy, the basic income programme includes a component for entry into the job market, starting with a declaration of immediate availability to work by all eligible members of the family (excluding minors, pensioners, the disabled, or those already engaged in a work or education activity). The economic requirements for eligibility are tied to an equivalence scale that assigns a value of one to the first family member, 0.4 for every other adult family member, and 0.2 for every minor, with a maximum limit of 2.1.
    Therefore, for a family with two adults and three children, two of whom are minors, the equivalence scale would still be 2.1 and the family income must not be more than 1,050 euros per month (12,600 euros per year).
    If the family members are older than 67, the basic income becomes a basic retirement.
    The subsidy is disbursed for 18 months and can be renewed after a one-month suspension.
    Beneficiaries are required to communicate within 15 days any change in income status that renders them ineligible.
   

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