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FL S1570
Bill
AI Summary
- Creates the Working Floridians Tax Rebate Program within the Department of Revenue, funded by annual taxes from the nonresident entertainer and professional athlete tax under s. 220.923, beginning in the 2024-2025 fiscal year
- Provides eligible low- and moderate-income Florida residents a rebate of up to 20% of their federal Earned Income Tax Credit amount, intended as relief for sales taxes, fuel taxes, property taxes, and other state taxes and fees
- Requires applicants to have received the federal Earned Income Tax Credit, maintain a Florida residence, apply by June 30 of the year the credit was received, and provide verification documentation; rebates are distributed on a first-come, first-served basis until funds are exhausted
- Requires the Department of Revenue to submit a report by December 31, 2026, to the Governor, Cabinet, and legislative leaders on the feasibility of automating the program using IRS or other federal data to eliminate the annual application requirement
- Prohibits counting the rebate as income for purposes of determining eligibility for Medicaid, Florida KidCare, cash assistance, or the Supplemental Nutrition Assistance Program (SNAP); applies to federal Earned Income Tax Credits granted on or after January 1, 2025
Legislative Description
Working Floridians Tax Rebate Program
Last Action
Died in Commerce and Tourism
3/8/2024
Full Bill Text
No bill text available