Atlanta is launching a program that will provide additional income to 300 people, AP News reports.

The Income Mobility Program for Atlanta Community Transformation (IMPACT) is an initiative that will provide residents a guaranteed amount of $500 monthly for a full year.

To be eligible for the program's assistance, applicants must be at least 18 and live below 200% of the federal poverty line. The criteria includes residents who bring in up to $53,000 for a four-member household, $44,000 for a three-family home, roughly $35,000 for a two-person home and about $26,000 for those who live alone.

Black and Latina women who reside in Georgia are more likely to live in poverty compared to white women. Black women also receive less pay in comparison to white men, averaging 63 cents on the dollar, according to the Georgia Budget & Policy Institute.

“Our community members are incredibly resilient and resourceful, but many are grappling with deep and long-standing inequities that leave families with thin financial buffers. Black women are among the most likely groups to experience cash shortfalls that make covering basic needs difficult,” Hope Wollensack, executive director of the GRO Fund, said in a press release.

“This isn’t the result of poor choices; it’s the result of pervasive economic insecurity that has the sharpest impacts on women and communities of color and the people who live at the intersection of the two,” she continued.

Those interested in receiving more information are encouraged to visit, and they can also receive alerts about when to register.

Mayor Keisha Lance Bottoms spoke on how the initiative correlates with Martin Luther King Jr.'s legacy.

“Dr. King said, ‘The curse of poverty has no justification in our age.’ In the spirit of Dr. King’s vision for the beloved community, the launch of the I.M.P.A.C.T. program takes us another step closer to creating One Atlanta — an affordable, resilient and equitable Atlanta,” she said, according to AP News.