The proposed bill establishes the Working Floridians Tax Rebate Program, aimed at providing financial relief to low-income and moderate-income residents in Florida by offsetting sales taxes, fuel taxes, property taxes, and other fees. The program is designed for individuals or households that qualify for and have received the federal Earned Income Tax Credit (EITC) in a specified tax year. Eligible applicants must maintain a Florida residence, apply by June 30 of the year they received the EITC, and provide documentation of their EITC amount. The Department of Revenue is tasked with issuing rebate payments within 30 days of receiving a completed application, with the rebate amount capped at 20% of the EITC received. The rebates will be allocated on a first-come, first-served basis until funds are exhausted.

Additionally, the bill mandates the Department of Revenue to prepare a report by December 31, 2027, assessing the feasibility of creating an automatic rebate program that would allow eligible individuals to receive funds without the need for annual applications. The report will outline barriers to implementation and provide recommendations if an automatic program is deemed unfeasible. Importantly, the receipt of these rebates will not affect eligibility for programs such as Medicaid or the Supplemental Nutrition Assistance Program. The bill also stipulates that revenue from annual taxes generated under chapter 220 will be allocated to the rebate program starting in the 2025-2026 fiscal year, with the act set to take effect on July 1, 2025.